888 Holdings Public Limited Company
("888")
Q4 2007 Key Performance Indicators and Trading Update
888, one of the world's most popular online gaming companies, today provides the
following trading update for the fourth quarter of 2007 and cumulative results
for the twelve months ended 31 December 2007.
Highlights*:
• Net Gaming Revenue for the 12 months ended 31 December 2007 - Up 36% at
US$213 million (2006: US$157 million)
• Net Gaming Revenue from Casino for the 12 months ended 31 December 2007 -
Up 33% to US$118 million (2006: US$89 million)
• Net Gaming Revenue from Poker for the 12 months ended 31 December 2007 -
Up 18% to US$81 million (2006: US$68 million)
• Net Gaming Revenue in Q4 2007 from Casino up 60% to US$35 million (Q4 2006:
US$22 million)
• Net Gaming Revenue in Q4 2007 from Poker up 17% to US$21 million (Q4 2006:
US$18 million)
• Strong Q4 2007 trading with 22% Casino NGR growth and 15% Poker NGR growth
above Q3 2007
• 30% increase in real money registered accounts to 4.7 million as at 31
December 2007 from 31 December 2006
• "888ladies", a new bingo offering launched and already showing hundreds of
new customers recruited daily
• Launch of the World Poker Crown - the largest** online guaranteed prize
poker tournament of its kind with $3 million guaranteed prizes
• 888 returned to the FTSE250 index
Commenting on today's announcement, Gigi Levy, Chief Executive Officer, said:
"We are delighted with our results released today, our first full year of
trading without any business in the US. Our NGR in 2007 grew strongly by 36
percent compared to 2006 with very strong fourth quarter showing 22% NGR growth
in Casino and 15% in Poker compared to Q3 2007. In addition our bingo business
performed extremely well with US$14 million revenue since we acquired the
business in May 2007. We have continued last year's positive momentum into Q1
with the launch of our own new bingo brand 888 Ladies which is already showing
hundreds of new customers recruited daily since launch in early February and the
World Poker Crown, a US$3 million guaranteed poker tournament."
Set out below are 888's results for Q4 and cumulative results for the 12 months
of the year.
Key Performance Indicators*
Fourth quarter 2007
• Group Net Gaming Revenue up 55% to US$63 million (Q4 2006: US$40 million)
• Net Gaming Revenue from Casino and Poker up 40% to US$57 million (Q4 2006:
US$40 million)
• Net Gaming Revenue from Casino up 60% to US$35 million (Q4 2006: US$22
million)
• Net Gaming Revenue from Poker up 17% to US$21 million (Q4 2006: US$18
million)
• Number of active customers in Casino and Poker reached 209,918, an increase
of 11% compared to 2006
• Quarterly Net Gaming Revenue per active group member in Casino and Poker
was US$270, an increase of 26% compared to 2006
• Continued growth from Emerging Offering*** with Net Gaming Revenue at
US$6.2 million (Q4 2006: Nil)
• As at 31 December 2007, 888 had 4.7 million real money registered
customer accounts, representing an increase of 30% since 31 December 2006
12 months ended 31 December 2007
• Net Gaming Revenue up 36% to US$213 million (12 months to 31 December 2006:
US$157 million)
• Net Gaming Revenue from Casino and Poker up 27% to US$199 million (12
months to 31 December 2006: US$157 million)
• Net Gaming Revenue from Casino up 33% to US$118 million (12 months to 31
December 2006: US$89 million)
• Net Gaming Revenue from Poker up 18% to US$81 million (12 months to 31
December 2006: US$68 million)
• Net Gaming Revenue from Emerging Offering was US$14 million (12 months to
31 December 2006: Nil)
Trading Update and Current Trading
888's excellence was further acknowledged by being recently awarded "Best
Betting and Gaming Company" at the Leisure Report Awards 2007, "Casino of the
Year" and "Best Land - Links Partnership" at the eGaming Awards 2007 as well as
"Casino of the Year" at the Gambling Online Awards 2007.
"888ladies", a new Bingo offering launched with new community and chat tools,
best-in-class bingo tutorials and soft games coupled with a new TV advertising
campaign in the UK already showing hundreds of new customers recruited daily
since launch.
Recent launches include Live Casino offering and handicapped sport betting for
certain Asian markets, white Label "Lucky Ace" for poker and casino in English,
Italian and Spanish and a new third party Bingo Network - "winkbingo".
Adventure in Orbit - our 15th Video Slot launched with the highest number of
payout lines ever (25 lines) in addition to Rough Rugby Video Slot and our first
branded Video Slot: Blond Legend (Marilyn Monroe by Shaw).
New Poker version 4.5 (2D and 3D) launched with an option for users to choose a
classic "race track" 2D view, or 3D view with or without Avatars.
Launched first prototype of a new Games Integration Platform with several third
party companies testing their games with 888's soon-to-be-published standard
API.
Trading in Q1 2008 has started strongly. During the first 37 days of the quarter
average daily Casino and Poker First Time Depositors was 17% higher than for Q4
2007, Casino and Poker deposits up 6%, Casino bets up 8%, Poker rake plus fees
up 5% and Casino and Poker NGR up 3%.
* All Figures refer to the group's business excluding the US. Rounded figures.
** The largest ever guaranteed prize pool from a non-US facing online operator
*** Emerging Offering refers primarily to bingo and Backgammon
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 10.30am (GMT) on 12
February 2008.
In order to ensure access to the call, attendees should please confirm their
attendance in advance by emailing Andrew Benbow: abenbow@bell-pottinger.co.uk.
Dial-in number: +44 (0)1296 311 650
Passcode: 984 886#
Replay number: +44 (0)20 7136 9233 (available for 1 week)
Replay passcode: 36761098
Contacts and enquiries
888
Gigi Levy, Chief Executive Officer +350 49800
Aviad Kobrine, Chief Financial Officer +350 49800
Bell Pottinger Corporate & Financial
Ann-Marie Wilkinson / Nick Lambert / Andrew Benbow +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 Q4 07
Casino & Poker
NGR US$m $ 39.4 $ 38.9 $ 38.3 $ 40.5 $ 46.9 $ 47.8 $ 47.6 $ 56.7
Active players 188,763 170,512 179,439 189,112 205,907 208,876 209,811 209,918
NGR per active player $208 $228 $214 $214 $228 $229 $227 $270
Casino
NGR US$m $ 21.5 $ 22.5 $ 22.6 $ 22.1 $ 26.0 $ 27.9 $ 29.0 $ 35.3
Active players 54,053 48,425 46,444 41,307 70,769 72,362 72,847 73,737
NGR per active player $398 $465 $488 $535 $367 $386 $398 $478
Poker
NGR US$m $ 17.9 $ 16.3 $ 15.7 $ 18.4 $ 20.9 $ 19.9 $ 18.6 $ 21.4
Active players 134,710 122,087 132,995 147,805 168,066 166,772 168,105 170,401
NGR per active player $133 $134 $118 $124 $124 $119 $111 $126
Emerging Offering **
NGR US$m 2.5 5.8 6.2
Group NGR US$m 39.4 38.9 38.3 40.5 46.9 50.3 53.4 62.8
* Rounded
**Reclassified
This information is provided by RNS
The company news service from the London Stock Exchange
source of this articles: UK Reuters
