10th May 2006 07:01
888 Holdings plc10 May 2006 10 May 2006 888 Holdings Public Limited Company ("888" or the "Company") Q1 2006 KPIs and Trading Update At the AGM to be held today the Chairman of 888 Holdings Public Limited Company, one of the world's most popular online gaming companies, will make the following statement: 888 today provides the following trading update for the first quarter of 2006. Key financials for the three months ended 31 March 2006: • Net Gaming Revenue rose to US$84 million, an increase of 42% above Q1 2005 • Net Gaming Revenue from casino increased to US$45 million, an increase of 15% above Q1 2005 • Net Gaming Revenue from poker rose to US$39 million, an increase of 95% above Q1 2005 Key KPIs: • Number of active* members - 319,374, up 23% on Q1 2005 - Casino active members - 80,947, marginally up on Q1 2005 - Poker active members - 238,427, a 33% increase on Q1 2005 • Monthly poker rake (rake from ring games plus tournament fees) in March 2006 was 66% higher than March 2005 • In Q1 2006, quarterly net gaming revenue per active casino member was $554 compared to $419 in Q4 2005 and Poker quarterly net gaming revenue per active member was $162 compared to $156 in Q4 2005 * An active member refers to an individual member who had made a game-relatedbalance movement in a real money account in the relevant quarter Trading Outlook 888 had a positive start to the current year with an improvement in net margins.The first quarter was seasonally strong and we anticipate the historicalseasonal pattern to continue into the second and third quarter with margins moreakin to historical levels. Growth in the US continues yet we are growing fasterout of the US, gradually reducing our dependence on the territory in line withthe company's long term strategy. In April the group released a new Poker product introducing a new multi-handfeature which is expected to drive Poker growth. The new Casino Product,introduced in January, was well received and is performing well. In May thegroup expanded its platform offerings with the release of the Casino product tomobile phones. In April the Group received increased media exposure driven bythe 17 day 888.com World Snooker Championship and the progress of MiddlesboroughFC to the UEFA Cup final. We continue to drive our business for long term sustainable profit and overallwe remain confident of making good progress in the current year. As announced last week, the Company has appointed Gigi Levy as COO with effectfrom 18 June 2006. Contacts and enquiries 888John Anderson Chief Executive Officer +350 49800Aviad Kobrine Chief Financial Officer +350 49800 Bell Pottinger Corporate & FinancialNick Lambert +44 (0)20 7861 3232 Notes to Editors 888.com is the most popular online casino and poker operator. It is headquartered and licensed in Gibraltar with further offices in Tel Aviv, Antigua and London. It has over 23 million registered member accounts in over 177 countries worldwide and customer support is available in 11 languages - 24 hours a day, seven days a week. In October 2005 888's shares were admitted to the main market of the LondonStock Exchange with an initial market capitalisation of £590 million.888.com offers traditional casino products such as blackjack, roulette, craps,baccarat, keno, slot machines, video, and a variety of poker games. Its mainpoker offering is provided through the Pacific Poker brand which offers ringgames and tournaments. The Group has its own R&D arm that is based in Israel and develops proprietarysoftware for exclusive use by 888.com. This enables the Group to continuallyevolve and develop the software and systems to give customers a state of the artgaming experience. It also provides a full back office management system that isowned and controlled directly by 888. This ensures the company is not reliant onthird parties for its software. 888 has been at the forefront of moves to ensure that the industry is subject toa high level of regulation. It was instrumental in the foundation of theeCommerce and Online Gaming Regulation and Assurance (eCOGRA) initiative. Thishas established a set of best practice regulations and enforces them through acombination of independent monitoring and inspection. Through the establishmentof eCOGRA, 888 has helped to create a regulatory framework that delivers safe,honest and player-sensitive online gambling. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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