888 Revenue Up 7% To $92m In Q3 2012

888 Revenue Up 7% To $92m In Q3 2012Gambling websites operator 888 Holdings has released its financial results for Q3 2012, revealing a 7% increase in revenue to $92 million compared to $86 million for the same period last year. Overall, group revenue has now reached $278 million for the first three quarters of 2012, an increase of 16% over the equivalent period in 2011 of $240 million.
Helping to improve the company’s impressive results was an increase in its customer base which now totals 12.5 million, an upsurge of 24% over last year’s total. Breaking Q3 figures down further, 888’s revenue B2C was up 8% to $80 million; B2C Casino was up 2% to $38 million; and B2C Emerging Offering was up 27% to $7 million.
In addition, B2C Poker was up 21% to $22 million compared to $18 million for the same period last year, with the number of active poker customers increasing by 14% to 349,000. For the first nine months of 2012, poker revenue is now up by 50% to $63 million compared to $42 million for the same period in 2011.
Looking ahead, the first two weeks of Q4 have also started well for 888 Holdings, with chief executive Brian Mattingley commenting: “The final quarter has started positively with average daily revenues more than 7 percent ahead of the strong fourth quarter in 2011. A disciplined approach to our costs, and our analytics driven marketing spend proving highly efficient, means we now expect our earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the full year to be significantly ahead of current market expectations.”
Following announcement of the results, 888 shares are currently up by 13.28% and trading at 104.75, giving the company a market capitalization of £366.90 million. Over the past 52 weeks, 888 shares hit a low of 31 but are now near their peak of 105.50.

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