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Record first-half revenues at 888 Holdings

Online gambling operator has revealed earnings before interest, tax, depreciation and amortisation of $36 million for the first six months of 2012.

Thursday 30th August 2012

Online gambling operator 888 Holdings has released its financial results for the first six months of 2012 showing that it experienced a 21 percent year-on-year increase in total revenues to $186.4 million. Gibraltar-based 888 revealed that revenues from its business-to-consumer casino business rose 20 percent year-on-year to $83.1 million while its poker operations experienced a 72 percent bump when compared with the same period in 2011 to $41.3 million. The operator’s total results were further helped by a 25 percent year-on-year rise in revenues from its emerging offering business to $12.3 million with its total earnings before interest, tax, depreciation and amortisation for the six month period finishing higher by 81 percent at $36 million when compared with last year’s results. Revenues from 888’s business-to-consumer bingo offering fell by two percent year-on-year to $26.9 million while earnings from its business-to-business operation decreased by one percent in comparison with the initial six months of 2011 to $22.8 million. “This has been an excellent first half of the year,” said Brian Mattingley, Chief Executive Officer for 888. “The tremendous increase in customer numbers caused by the improvements in our product offering has led to these record results with the highest revenues in the history of 888. “On the back of this performance, the board has decided to reinstate the interim dividend while we retain the cash necessary to continue growing the company. “The second half of the year will see increased investment in Spain, where we will attempt to build on our impressive market share, and also in the United States, where we are preparing for regulatory changes. We will also continue to invest in our technological platform, the cornerstone of our offer, and make improvements to our mobile channel.”

Source: OnlineCasinoNews

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