Q3 KPI & Trading Update
888 Holdings plc
30 October 2007
30 October 2007
888 Holdings Public Limited Company ('888')
Q3 2007 Key Performance Indicators and Trading Update
888, one of the world's most popular online gaming entertainment companies,
today provides the following trading update for the third quarter of 2007 and
cumulative results for the nine months ended 30 September 2007.
Highlights*:
•Group Net Gaming Revenue up 37% to US$52.5 million (Q3 2006: US$38.3
million)
•Net Gaming Revenue from Emerging Offering** reached US$4.9 million (Q3
2006: Nil)
•First Sportsbetting offering launched in Italy
•Further product localisation with the release of the latest versions of
888's client software in 14 Languages, including localized cashiers
optimized to maximize approval deposit rates
•Access to over 40 Casino games from the Poker client in all 14 languages
•New TV advertising campaign Playful Minds launched in the UK
•Strong current trading
'* All Figures refer to the group's business from non-US countries
'** Emerging Offering refers primarily to Bingo and Backgammon
Commenting on today's announcement, Gigi Levi Chief Executive Officer, said:
'We are very pleased with our results released today, which were achieved in
what is typically the slowest quarter of the year. NGR in Q3 climbed 5 percent
higher than Q2 with September being our best month since we withdrew from the
US. This record month has been exceeded in October with growing momentum
following the launch of our new 'Playful Minds' TV advertising campaign in the
UK and other targeted markets. Following the pioneering launch of our white
label offering in Latin America with Tower Torneos, our new licensed sports
offering in Italy 888.it went live in October.
Given the continued roll-out of innovative product offering and our expansion in
new geographic markets using innovative marketing we are confident about our
performance in 2007 and beyond.'
Set out below are 888's results for Q3 and cumulative results for the first nine
months of the year.
Key performance Indicators
Third quarter 2007
•Group Net Gaming Revenue up 37% to US$52.5 million (Q3 2006: US$38.3
million)
•Net Gaming Revenue from Casino and Poker up 24% to US$47.6 million (Q3
2006: US$38.3 million)
•Number of active customers in Casino and Poker reached 209,811, an
increase of 17% compared to 2006
•Quarterly Net Gaming Revenue per active group member in Casino and Poker
was US$227, an increase of 6% compared to 2006
•Continued strong growth from Emerging Offering with Net Gaming Revenue at
US$4.9 million
•As at 30 September 2007, 888 had 4.4 million real money registered member
accounts in Casino and Poker representing an increase of 32% since 30
September 2006
Nine months ended 30 September 2007
•Group Net Gaming Revenue up 28% to US$149.3 million (Nine months to 30
September 2006: US$116.5 million)
•Net Gaming Revenue from Casino and Poker up 22% to US$142.2 million (Nine
months to 30 September 2006: US$116.5 million)
•Net Gaming Revenue from emerging offering reached US$7.0 million (Nine
months to 30 September 2006: Nil)
Trading Update
Trading in Q4 has started strongly: During the first 26 days of October average
daily revenue in each of Casino and Poker was approximately 11% higher than the
daily average for Q3. We are therefore confident of achieving our goals for
the remainder of the year.
Analyst and Investor Conference Call
Gigi Levy, Chief Executive Officer and Aviad Kobrine, Chief Financial Officer,
will be hosting an analyst and investor conference call at 10.30 am (GMT) today.
In order to ensure access to the call, attendees should please confirm their
attendance in advance by emailing Chris Hamilton:
chamilton@bell-pottinger.co.uk.
Dial-in number: +44 (0)20 8974 7950
Passcode: 303 596#
Replay number: +44 (0)20 7136 9233available for one week)
Replay passcode: 65046101
Contacts and enquiries
888
Gigi Levi Chief Executive Officer +350 49800
Aviad Kobrine Chief Financial Officer +350 49800
Bell Pottinger Corporate & Financial
Nick Lambert / Christopher Hamilton +44 (0)20 7861 3232
This announcement includes statements that are, or may be deemed to be,
'forward-looking statements'. By their nature, forward-looking statements
involve risk and uncertainty since they relate to future events and
circumstances. Forward-looking statements may and often do differ materially
from actual results. Any forward-looking statements in this announcement reflect
888's view with respect to future events as at the date of this announcement.
Save as required by law or by the Listing Rules of the UK Listing Authority, 888
undertakes no obligation publicly to release the results of any revisions to any
forward-looking statements in this announcement that may occur due to any change
in its expectations or to reflect events or circumstances after the date of this
announcement.
Appendix - KPI
KPI adopted since Q1 2007 as a result of introduction of Casino in Poker
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|KPI* |Q1 06 |Q2 06 |Q3 06 |Q4 06 |Q1 07 |Q2 07 |Q3 07 |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Casino & Poker |$39.4 |$38.9 |$38.3 |$40.5 |$46.9 |£47.8 |$47.6 |
|NGR US$m | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Active Players |188,763|170,512|179,439|189,112|205,907|208,876|209,811|
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|NGR per active |$208 |$228 |$214 |$214 |$228 |$229 |$227 |
|player | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
| | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Casino | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|NGR US$m |$21.5 |$22.5 |$22.6 |$22.1 |$26.0 |$27.9 |$29.0 |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Active Players |54,153 |48,425 |46,444 |41,307 |70,769 |72,362 |72,847 |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|NGR per active |$398 |$465 |$488 |$535 |$367 |$386 |$398 |
|player | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
| | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Poker | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|NGR US$m |$17.9 |$16.3 |$15.7 |$18.4 |$20.9 |$19.9 |$18.6 |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Active Players |134,710|122,087|132,995|147,805|168,066|166,772|168,105|
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|NGR per active |$133 |$134 |$118 |$124 |$124 |$119 |$111 |
|player | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
| | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Emerging Offering | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|NGR US$m | | | | | |$2.2 |$4.9 |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
| | | | | | | | |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
|Group NGR US$m |$39.4 |$38.9 |$38.3 |$40.5 |$46.9 |$49.9 |$52.5 |
+-------------------+-------+-------+-------+-------+-------+-------+-------+
* Rounded
This information is provided by RNS
The company news service from the London Stock Exchange