Increased revenue of 888 even after US ban !!

June 29, 2008

I was searching for the 2007 business results of 888 holdings plc and found the following data :

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888, one of the world’s most popular online gaming companies, provided the following cumulative results for the twelve months ended 31 December 2007.

Highlights:

• Net Gaming Revenue for the 12 months ended 31 December 2007 - Up 36% at US$213 million (2006: US$157 million)

• Net Gaming Revenue from Casino for the 12 months ended 31 December 2007 - Up 33% to US$118 million (2006: US$89 million)

• Net Gaming Revenue from Poker for the 12 months ended 31 December 2007 - Up 18% to US$81 million (2006: US$68 million)

• Net Gaming Revenue in Q4 2007 from Casino up 60% to US$35 million (Q4 2006: US$22 million)

• Net Gaming Revenue in Q4 2007 from Poker up 17% to US$21 million (Q4 2006: US$18 million)

• Strong Q4 2007 trading with 22% Casino NGR growth and 15% Poker NGR growth above Q3 2007

• 30% increase in real money registered accounts to 4.7 million as at 31 December 2007 from 31 December 2006

• “888ladies”, a new Bingo offering launched and already showing hundreds of new customers recruited daily

• Launch of the World Poker Crown - the largest** online guaranteed prize poker tournament of its kind with $3 million guaranteed prizes

• 888 returned to the FTSE250 index

Gigi Levy, Chief Executive Officer, said at the time press release:

“We are delighted with our results released today, our first full year of trading without any business in the US. Our NGR in 2007 grew strongly by 36 percent compared to 2006 with very strong fourth quarter showing 22% NGR growth in Casino and 15% in Poker compared to Q3 2007. In addition our bingo business performed extremely well with US$14 million revenue since we acquired the business in May 2007. We have continued last year’s positive momentum into Q1 with the launch of our own new Bingo brand 888Ladies which is already showing hundreds of new customers recruited daily since launch in early February and the World Poker Crown, a US$3 million guaranteed poker tournament.”

12 months ended 31 December 2007

• Net Gaming Revenue up 36% to US$213 million (12 months to 31 December 2006: US$157 million)

• Net Gaming Revenue from Casino and Poker up 27% to US$199 million (12 months to 31 December 2006: US$157 million)

• Net Gaming Revenue from Casino up 33% to US$118 million (12 months to 31 December 2006: US$89 million)

• Net Gaming Revenue from Poker up 18% to US$81 million (12 months to 31 December 2006: US$68 million)

• Net Gaming Revenue from Emerging Offering was US$14 million (12 months to 31 December 2006: Nil)

Trading Update and Current Trading

888’s excellence was further acknowledged by being recently awarded “Best Betting and Gaming Company” at the Leisure Report Awards 2007, “Casino of the Year” and “Best Land - Links Partnership” at the eGaming Awards 2007 as well as “Casino of the Year” at the Gambling Online Awards 2007.

“888ladies”, a new Bingo offering launched with new community and chat tools, best-in-class bingo tutorials and soft games coupled with a new TV advertising campaign in the UK already showing hundreds of new customers recruited daily since launch.

Recent launches include Live Casino offering and handicapped sport betting for certain Asian markets, white Label “Lucky Ace” for poker and casino in English, Italian and Spanish and a new third party Bingo Network - “winkbingo”.

Adventure in Orbit - our 15th Video Slot launched with the highest number of payout lines ever (25 lines) in addition to Rough Rugby Video Slot and our first branded Video Slot: Blond Legend (Marilyn Monroe by Shaw).

New Poker version 4.5 (2D and 3D) launched with an option for users to choose a classic “race track” 2D view, or 3D view with or without Avatars.

Launched first prototype of a new Games Integration Platform with several third party companies testing their games with 888’s soon-to-be-published standard API.

Trading in Q1 2008 has started strongly. During the first 37 days of the quarter average daily Casino and Poker First Time Depositors was 17% higher than for Q4 2007, Casino and Poker deposits up 6%, Casino bets up 8%, Poker rake plus fees
up 5% and Casino and Poker NGR up 3%.

* All Figures refer to the group’s business excluding the US. Rounded figures.
** The largest ever guaranteed prize pool from a non-US facing online operator
*** Emerging Offering refers primarily to Bingo and Backgammon

This information is provided by RNS : The company news service from the London Stock Exchange

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I think those are some fascinating data even after the ban of gambling in US.. Congrats.