25th Jul 2006 07:01
888 Holdings plc25 July 2006 25 July 2006 888 Holdings Public Limited Company ("888" or the "Company") Trading Update and Q2 2006 KPIs 888, one of the world's most popular online gaming companies, today provides thefollowing trading update for the second quarter of 2006 and cumulative results for the six months ended 30 June 2006. Highlights: * Net Gaming Revenue in Q2 2006 - US$80 million, an increase of 23% above Q2 2005 * During H1 2006, 67% of new real money sign ups were recruited from outside the US * Net Gaming Revenue from casino in Q2 2006 - US$45 million, an increase of 9% above Q2 2005 * Net Gaming Revenue from poker in Q2 2006 - US$35 million, an increase of 48% (1) above Q2 2005 * Net Gaming Revenue during H1 2006 rose to US$164 million, an increase of 32% above H1 2005 * In Q2 2006, quarterly Net Gaming Revenue per active casino member increased 13% compared to Q1 2006. In poker quarterly Net Gaming Revenue per active member increased 3% compared to Q1 2006. Key KPIs: As expected given the effect of the World Cup and the historical seasonalpattern Net Gaming Revenue and the number of active members was lower in Q2 2006compared to Q1 2006. However, Net Gaming Revenue per active member increasedhighlighting the high value and stability of our core member base and productinnovation strategy. * Net Gaming Revenue in Q2 2006 was 4%(1) lower than Q1 2006 * Number of active(2) members in Q2 2006 was 281,402, 9% lower than Q2 2005 * Casino active members in Q2 2006 was 71,242, 19% lower than Q2 2005 * Poker active members in Q2 2006 was 210,160, 5% lower than Q2 2005 * In Q2 2006, quarterly Net Gaming Revenue per active casino member was US$628 compared to US$554 in Q1 2006. In poker quarterly Net Gaming Revenue per active member was US$167 compared to US$162 in Q1 2006. * As at 30 June 2006, 888 had 25.4 million registered member accounts out of which 6.3 million were real money registered member accounts, representing an increase in real money member accounts of 36% since 30 June 2005. Key cumulative financials for the six months ended 30 June 2006: * Net Gaming Revenue during H1 2006 rose to US$164 million, an increase 32% above H1 2005 * Net Gaming Revenue from casino during H1 2006 rose to US$90 million, an increase of 12% above H1 2005 * Net Gaming Revenue from poker during H1 2006 rose to US$74 million, an increase of 69% above H1 2005 * During H1 2006, non-US deposits represented 48% of total group deposits Trading Update 888 continues its established long term strategy of geographic diversification and expanded product offering. Overall trading for the first six months of the year has been in line with Board expectations with an encouraging first half despite the seasonally quieter second quarter which was additionally influenced this year by the World Cup. The Directors remain confident about continued progress in the second half of the year. The Company will announce interim results for the six months period ended 30June 2006 on 14th September 2006. Contacts and enquiries 888John Anderson Chief Executive Officer +350 49800Aviad Kobrine Chief Financial Officer +350 49800 Bell Pottinger Corporate & FinancialNick Lambert/Christopher Hamilton +44 (0)20 7861 3232 Notes to Editors 888.com is headquartered and licensed in Gibraltar with offices in Tel Aviv,Antigua and London. It has over 25 million registered member accounts in over177 countries worldwide and play and customer support is available in up to 11languages - 24 hours a day, seven days a week. In October 2005 888's shares were admitted to the main market of the LondonStock Exchange. 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. Other offerings include a betting exchange (for non US members only), otherskill games such as checkers, backgammon and arcade games (888.tv) as well asfree poker school and other casino games through 888.info The Group has its own R&D arm that is based in Tel Aviv 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 have been at the forefront of moves to ensure that the industry is subjectto a high level of regulation. It was instrumental in the foundation of theeCommerce and Online Gaming Regulation and Assurance (eCOGRA) initiative. eCOGRAhas 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. --------------------------(1) Rounded(2) An active member refers to an individual member who had made a game-relatedbalance movement in a real money account in the relevant quarter. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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