888 powers on in H1-2014 results

888 Holdings plc has posted its Q2-2014 and H1-2014 results, showcasing another strong performance and a record-breaking half year that has included:

* Q2-2014 Group revenue up 15 percent to US$111 million (Q2 2013: US$97 million);

* Q2-2014 revenue B2C up 11 percent to US$95 million (Q2 2013: US$85 million);

* Q2-2014 revenue B2C Casino up 15 percent to US$53 million (Q2 2013: US$47 million);

* Q2-2014 revenue B2C Poker modestly up 2 percent at US$23 million (Q2 2013: US$22 million);

* Q2-2014 revenue B2C Bingo up 17 percent at US$12 million (Q2 2013: US$10 million), a marked recovery;

* Q2-2014 revenue B2C Emerging Offering rose 15 percent to US$7 million (Q2 2013: US$6 million);

* Q2-2014 revenue B2B up 37 percent to US$16 million (Q2 2013: US$12 million), driven by US operations and Bingo;

* Another record Group performance in H1-2014, where revenue increased 13 percent to US$225 million (H1 2013: US$200 million);

* As at 30 June 2014, 888 Group had 16.8 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 17 percent from 30 June 2013;

Brian Mattingley, 888’s group CEO, said:

“I am pleased to report that 888 has delivered another strong performance in the second quarter which, in combination with our very good start to the year, has once again resulted in record-breaking revenue for H1.

“This outcome has been driven by strong performances across both our B2C and B2B lines of business and is testament to our exceptional brands, technology, marketing and CRM systems. Whilst the outcome for the full year will be dependent on trading in the second half, we continue to look forward with confidence as we further develop the business.”

Active customer split in the second quarter was as follows:

* Active customers B2C Casino and Poker at 579,000 (Q2 2013: 535,000), an increase of 8 percent;

* Active customers B2C Casino at 200,000 (Q2 2013: 186,000), an increase of 8 percent;

* Active customers B2C Poker at 459,000 (Q2 2013: 410,000), an increase of 12 percent;

* Quarterly revenue B2C per active Casino and Poker customer was US$131 (Q2 2013: US$129), a 2 percent rise;

* Quarterly revenue B2C per active Casino customer was US$267 (Q2 2013: US$250), a 6 percent rise;

* Quarterly revenue B2C per active Poker customer was US$50 (Q2 2013: US$55), a 9 percent decline;

888’s half year KPIs include:

* Group revenue up 13 percent to US$225 million (H1 2013: US$200 million);

* Group B2C revenue up 9 percent at US$193 million (H1 2013: US$177 million);

* Revenue B2C Casino up 14 percent at US$108 million (H1 2013: US$94 million);

* Revenue B2C Poker up just 3 percent at US$48 million (H1 2013: US$47 million);

* Revenue B2C Bingo up 9 percent at US$24 million (H1 2013: US$22 million);

* Revenue B2C Emerging Offering up 6 percent at US$13 million (H1 2013: US$14 million);

* Dragonfish B2B revenue was up 40 percent to US$32 million (H1 2013: US$23 million);

CEO Mattingley reported that current trading entering the third quarter has continued strongly, with revenue during July 2014 more than 15 percent higher than July 2013.

As at 1 August 2014, the Group had US$118 million of cash and cash equivalents and US$56 million liabilities to customers.