February 04, 2013

888 posts double digit increases

888 Holdings oversaw a double-digit rise in revenue in 2012 as the business continues to enjoy success in a number of different jurisdictions. Revenue was up 13 percent to US$376million for the full year with the company’s B2C operations enjoying an excellent year. B2C poker increased revenue by 44 percent to $88million with B2C casino revenue enjoying a similarly lucrative year as revenue rose 12 percent to $US165m. B2C bingo had a slightly disappointing year as revenue dropped 4 percent to $52m. The company’s B2C revenue from their “Emerging Offering” more than made up for it with a rise of 16 percent to US$25m. Part of this were two markets in Souther Europe that were alluded to in comments from CEO Brian Mattingley.

“Our success in Spain and Italy shows that we have the right product and technology led marketing to make significant inroads into new markets, and we will look to repeat that success in other regulating territories,” said Mattingley. “In addition we are experiencing a significant increase in customer recruitment and revenue from mobile platforms and, given our focus and commitment to investment in mobile, see this is as just the beginning of an increasing trend. 2013 has started strongly and we therefore remain confident of future growth.”

The company also released figures for the final quarter of the year that showed group revenue rising by 7 percent to US$97m. B2C revenue rose 9 percent to US$86m with poker increasing by 31 percent to $24m as a part of that and casino revenue increasing by 6 percent to $44m.

One disappointing part of the company was their B2B brand, Dragonfish, which saw a decline in revenue of 2 percent for both the full year and fourth quarter. Apart from that the results were a very good set with Mattingley and pals likely to be very happy with them. The only thing that might make them happier is the US online poker market opening up – and it won’t just be them that are smiling ear-to-ear should that take place in 2013.

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