RNS Number : 7258W
888 Holdings plc
03 August 2009
3 August 2009
888 Holdings Public Limited Company ('888')
Interim Management Statement
Q2 2009 Key Performance Indicators and Trading Update*
888, one of the world's most popular online gaming entertainment companies is pleased to provide the following trading update for the second quarter of 2009 and cumulative results for the six months ended 30 June 2009.
Highlights
Commenting on today's announcement, Gigi Levy, Chief Executive Officer, said:
'We are extremely pleased to report very good sequential quarter on quarter progress in Q2 2009 both in our B2C and B2B lines of business. Trading was stronger in Casino and Emerging Offering with Poker remaining softer, in line with wider industry trends. We are particularly encouraged with increased active customer levels in both B2C Casino and Poker. We enter the seasonally quieter summer period with delivery of our strategy on track and we remain committed to investing in the business in spite of the macro-economic environment. We are confident of delivering further growth during 2009 based on additional planned B2C activities and a set of newly launched B2B partnerships which we expect to start generating revenues in the coming months.'
* All percentages in this release are calculated without rounding.
Set out below are 888's results for Q2 and cumulative results for the first six months of the year.
Key Performance Indicators
Second quarter 2009:
Group
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As at 30 June 2009, 888 had 6.4 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 25% since 30 June 2008
B2C
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Quarterly Total Operating Income B2C per active Poker customer was US$88, a 32% decrease compared to Q2 2008 and 15% decrease compared to Q1 2009, based on an extensive campaign late in the quarter which brought many customers toward the end of the quarter who did not have sufficient playing time to materially contribute to revenues
B2B
Six months ended 30 June 2009
B2C
B2B
Current Trading
Following encouraging growth achieved in both business segments during the second quarter of the year, trading during July has followed the historic seasonal pattern of softer trading during this time of year, which is anticipated to last until September: During the first 28 days of July average daily revenue was approximately 2 per cent higher than during the first half of the year and approximately 0.5 per cent lower than Q2.
We have a healthy B2B pipeline and are in various stages of negotiating a number of new B2B deals which are expected to have a positive impact on revenues in coming months. We expect further progress during the second half of the year especially during the fourth quarter. Given current trading, the progress of the strategic deals and the launching of new games, we expect to grow the business further during the year.
Analyst and Investor Conference Call
Gigi Levy, Chief Executive Officer and Aviad Kobrine, Chief Financial Officer, will be hosting an analyst and investor conference call at 9.30am (BST) today.
Dial-in number: +44 (0) 207138 0845
Passcode: 7577874
Replay number: +44 (0) 207806 1970
Replay passcode: 7577874#
Contacts and enquiries
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888
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Gigi Levi, Chief Executive Officer
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+350 200 49800
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Aviad Kobrine, Chief Financial Officer
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+350 200 49800
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Bell Pottinger Corporate & Financial
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Ann-marie Wilkinson / Nick Lambert / Andrew Benbow
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+44 (0)20 7861 3232
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This announcement includes statements that are, or may be deemed to be, 'forward-looking statements'. These statements contain the words 'anticipate', 'believe', 'intend', 'estimate', 'expect' and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Forward-looking statements may and often do differ materially from actual results. All statements, other than statements of historical facts included in this announcement, including, without limitation, those regarding 888's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to 888's products and services) are forward-looking statements that are based on current expectations. Such forward-looking statements are based on numerous assumptions regarding 888's operating performance, present and future business strategies, and the environment in which 888 will operate in the future. Any forward-looking statements in this announcement reflect 888'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 888 expressly disclaims any obligation or undertaking, to disseminate any updates or revisions to any forward-looking statements, contained herein to reflect any change in its expectations, with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Past performance cannot be relied upon as a guide to future performance.
Appendix
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US$m*
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2008
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2009
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Q1
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Q2
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Q3
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Q4
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Q1
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Q2
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B2C TOI
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Casino
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35.8
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36.3
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34.8
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29.6
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26.7
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29.2
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Poker
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21.9
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19.7
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17.4
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14.5
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13.7
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12.5
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Emerging Offering
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1.0
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3.6
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4.4
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4.8
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4.8
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6.7
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Total Operating Income B2C
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58.7
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59.6
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56.7
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49.0
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45.1
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48.4
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B2C KPI
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TOI Casino US$m
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35.8
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36.3
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34.8
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29.6
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26.7
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29.2
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Active Players Casino (000)
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74.3
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74.0
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72.5
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66.9
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62.1
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66.5
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TOI Casino per active player US$
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$ 482
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$ 491
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$ 480
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$ 443
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$ 429
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$ 439
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TOI Poker US$m
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21.9
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19.7
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17.4
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14.5
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13.7
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12.5
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Active Players Poker (000)
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158.4
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153.0
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149.3
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136.7
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133.1
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142.4
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TOI Poker per active player US$
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$ 138
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$ 129
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$ 117
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$ 106
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$ 103
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$ 88
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TOI Casino & Poker US$m
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57.7
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56.0
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52.3
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44.2
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40.4
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41.8
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Active Players Casino & Poker (000)
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199.1
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195.9
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193.7
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176.5
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167.7
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179.7
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TOI Casino & Poker per active player US$
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$ 290
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$ 286
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$ 270
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$ 250
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$ 241
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$ 232
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B2B TOI
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Total B2B Operating Income
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7.4
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9.7
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11.0
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10.5
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11.9
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12.4
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Total Operating Income
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66.1
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69.2
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67.7
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59.5
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57.0
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60.9
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*Rounded
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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