7th May 2008 07:01
888 Holdings plc07 May 2008 888 Holdings Public Limited Company ("888") Interim Management Statement Q1 2008 Key Performance Indicators and Trading Update 888, one of the world's most popular online gaming entertainment companies, ispleased to provide the following trading update for the first quarter of 2008. Highlights • Net Gaming Revenue ("NGR") up 38% to US$64 million (Q1 2007: US$47 million) • Total Operating Income up 41% to US$66 million (Q1 2007: US$47 million) • NGR from casino up 35% to US$35 million (Q1 2007: US$26 million) • NGR from poker up 5% to US$22 million (Q1 2007: US$21 million) • 27% increase in real money registered customer accounts to 4.9 million as at 31 March 2008 • Further growth at start of Q2 driven primarily by casino and bingo Key performance Indicators Q1 2008 • NGR up 38% to US$64 million (Q1 2007: US$47 million) and 3% above the previous quarter • Total Operating Income up 41% to US$66 million (Q1 2007: US$47 million), a 2% increase above previous quarter • Net Gaming Revenue from casino up 35% to US$35 million (Q1 2007: US$26 million), in line with the previous quarter given the exceptionally high Casino performance in Q4 2007 • Net Gaming Revenue from poker up 5% to US$22 million (Q1 2007: US$21 million) and 2% increase above previous quarter • Net Gaming Revenue from Emerging Offering reached US$8 million (Q1 2007: nil) and 23% increase above previous quarter • Number of active customers in casino and poker reached 213,115 an increase of 3.5% compared to Q1 2007 and 2% above previous quarter • Number of Casino active customers reached 77,370 an increase of 9% compared to Q1 2007 and 5% above previous quarter • Number of Poker active customers reached 170,988 an increase of 2% compared to Q1 2007 and 0.3% increase above previous quarter • Quarterly NGR per active Casino and Poker customer reached US$267, an increase of 17% compared to Q1 2007 a 1% decline from previous quarter as a result of slightly faster increase in active players than NGR increase during the period • Casino quarterly NGR per active customer reached US$453, an increase of 23% compared to Q1 2007 and a 5% decline from previous quarter as a result of the exceptionally high Q4 2007 • Poker quarterly NGR per active customer reached US$128, an increase of 3% compared to Q1 2007 and 2% above previous quarter • As at 31 March 2008, 888 had 4.9 million real money registered customer accounts, representing an increase of 27% in real money customer accounts since 31 March 2007 Current Trading The first quarter of 2008 started well with 38% NGR growth year-on-year and anadditional 2.6% NGR growth quarter-on-quarter following the exceptionally highQ4 2007. Growth has continued into Q2 2008, particularly in Casino and Bingo. During thefirst 32 days of the second quarter daily average group NGR increased 7%,combined Casino and Poker NGR increased 2% and first time depositors increased19%, in each case, compared to the daily average in Q1 2008. Given the positive start to 2008, the successful launch of 888ladies, 888sportand Live Dealer, our strategic partnership deals, current trading and our clearbusiness strategy and focus, we are confident of delivering future growth during2008. Material Events, Transactions and Financial Position There have been no material events, transactions or changes in the financialposition of 888 since the year end other than as set out above. Commenting on today's announcement, Gigi Levy, Chief Executive Officer, said: "We are delighted with our Q1 2008 results especially given that we achievedfurther growth in the quarter well and above the unusually high Q4 2007. Ourgrowth has continued into Q2, driven particularly by Casino and Bingo and so farwe have not experienced any impact of the historically quieter seasonal period.Our various business initiatives are progressing well and we are thereforeconfident in delivering future growth during 2008." - ends - Contacts and enquiries 888Gigi Levy Chief Executive Officer +350 49800Aviad Kobrine Chief Financial Officer +350 49800 Bell Pottinger Corporate & FinancialAnn-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 statementsinvolve risk and uncertainty since they relate to future events andcircumstances. Forward-looking statements may and often do differ materiallyfrom actual results. Any forward-looking statements in this announcement reflect888'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, 888undertakes no obligation publicly to release the results of any revisions to anyforward-looking statements in this announcement that may occur due to any changein its expectations or to reflect events or circumstances after the date of thisannouncement. Appendix - KPI KPI* Q1 07 Q2 07 Q3 07 Q4 07 Q1 08 Casino & PokerNGR US$m $ 46.9 $ 47.8 $ 47.6 $ 56.7 $ 56.9Active players 205,907 208,876 209,811 209,918 213,115NGR per active player $228 $229 $227 $270 $267 CasinoNGR US$m $ 26.0 $ 27.9 $ 29.0 $ 35.3 $ 35.0Active players 70,769 72,362 72,847 73,737 77,370NGR per active player $367 $386 $398 $478 $453 PokerNGR US$m $ 20.9 $ 19.9 $ 18.6 $ 21.4 $ 21.9Active players 168,066 166,772 168,105 170,401 170,988NGR per active player $124 $119 $111 $126 $128 Emerging Offering **NGR US$m 2.5 5.8 6.2 7.57 Group NGR US$m $ 46.9 $ 50.3 $ 53.4 $ 62.8 $ 64.5 Other operating income $ 0.0 $ 0.7 $ 1.1 $ 1.7 $ 1.6 Total Operating Income $ 46.9 $ 51.0 $ 54.5 $ 64.5 $ 66.1*Rounded** Reclassified This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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