Strong Q4/2010 results from 888 Holdings

Online gaming provider, 888 Holdings PLC has released its fourth quarter 2010 and twelve months ending 31 December 2010 results this week.
The company confirmed that discussions were still ongoing with Ladbrokes, contrary to media speculation that talks had stalled .
888 also announced that an innovative PokerCam product release is imminent which will allow players real-time video streams in real-money poker games.
Furthermore, the trading performance of the Wink Bingo business, acquired in December 2009, has been strong and has exceeded the Board’s expectations.
Fiscal Results Include:
Q4/2010 Key Performance Indicators (Compared to Q3/2010):
–     An 18 percent increase in group total operating Income to $ 71 million :
–     A B2C total operating income of $60 million which reflects a 17 percent increase.  The result attributed to a boost in growth in Casino, Poker and Bingo.
–           Casino $31 million, 17 percent increase
–           Bingo $14 million, 13 percent increase
–           Poker $11 million, 28 percent increase
–           Emerging Offering at $4 million, 12 percent
–           B2B reflects a 21 percent increase of $11 million.
–           Number of active customers B2C Casino and Poker at 283,000, a 71 percent increase driven by product improvement and successful marketing
–           Casino at 124,000 up 69 percent
–           Poker at 201,000 up 74 percent
2010 Year On Year Key Performance Indicators (compared to 2009) include:
–     A 6 percent increase in group total operating income in 2010 to $262 million
(2009: $247 million):
–  Total Operating Income B2C in 2010 at $222 million (2009: $195 million) reflecting a 13 percent increase
–           Casino at $117 million (2009: $119 million) down 1 percent
–           Poker at $38 million (2009: $52 million) down 26 percent
–           Bingo at $50 million (2009: $11 million) indicates a 370 percent increase
–           Total Operating Income B2C Emerging Offering at US$16 million
(2009: US$15 million) reflects a 12 percent increase
–  Total Operating Income B2B in 2010 at $40 million, reflecting a decline of 21 percent
–  As at 31 December 2010, 888 reports a 23 percent increase in Casino, Poker and Sport real money registered customer accounts to 8.7 million.
Gigi Levy, Chief Executive Officer, 888 Holdings Plc said:
“We are very pleased with the results delivered during the last quarter of 2010 – especially the record 18 percent quarterly sequential growth. Our marketing activities have driven record numbers of players to our sites, and growth was achieved across our business lines. We are particularly encouraged by our Poker business, which showed 28 percent sequential growth.
2011 has started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year.”

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