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Poker helps 888 to record revenues, Stephen Carter at Casino Choice

Poker helps 888 to record revenues, Stephen Carter at Casino Choice | Poker & eGaming News | Scoop.it

Online operator 888 has posted record half-year revenues of $186.4m on the back of a stellar performance from poker and solid growth from its core casino component. Earnings were up 81% to $36m in the six months to the end of June, albeit from a low base of $20m a year earlier, with the company announcing it had reinstated its dividend at 2.5c per share.

 

888Poker revenue was up 72% year-on-year to $41.3m in the six months to the end of June, with second quarter performance also holding up well in the historical seasonal slowdown leading into summer. Active poker customer numbers were up 63% in Q2, on top of the 90% rise recorded in the prior year.

 

In Spain, where the operator made a backdated tax payment of US$11.1m to Spanish authorities ahead of launching in the regulated market in early June, 888 doubled its poker revenue from Spain compared to the period immediately prior to regulation. 888poker.es is now No 2 behind PokerStars in the segregated player pool, with a 24% market share, according to the company’s statement today.

 

Other sources:

http://www.igamingbusiness.com/content/record-first-half-revenues-888-holdings

http://www.gamblingcompliance.com/node/49871

 

http://www.cardplayer.com/poker-news/13967-poker-revenue-jumps-72-percent-at-888

Online poker revenue has seen a significant surge at 888 growing 72 percent in the first half of 2012 to US$41.3 million from US$24 million in the same period of 2011.

 

http://www.gamingintelligence.com/premium-news-and-archive/17349-888-posts-record-revenues-poker-up-72-per-cent

H1 2012 Financial Summary (US$m)
H1 2011 H1 2012 % Change
Revenues
-Poker 24.0 41.3 72%
-Casino 69.0 83.1 20%
-Bingo 27.6 26.9 -2%
-Emerging Offering 10.2 12.3 20%
Total B2C 130.8 163.6 25%
B2B 23.1 22.8 -1%
Total Revenues 153.8 186.4 21%

Operating Expenses (1,2)
54.6 56.8 4%
Gaming Taxes & Duties (3)
1.4 5.5 292%
Research & Development Expenses 12.9 13.9 8%
Selling & Marketing Expenses 49.9 61.7 24%
Administrative Expenses (2,4,5)
15.1 12.5 -17%

EBITDA 20.0 36.0 81%

 

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Caesars boosts online revenues but grows losses, Tom Victor EGR Magazine

Caesars boosts online revenues but grows losses, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

The rise helped group net revenues reach $2.27bn, a 4.3% increase on the corresponding period in 2011, although group losses nearly doubled year-on-year to $280.6m. Online and social revenues now count for 2.8% of its overall revenues.


The operator’s egaming arm Caesars Interactive Entertainment (CIE) acquired a 51% stake in social games developer Playtika last May before making it a fully-owned subsidiary by securing the remaining 49% in Q4 2011. However in an analyst call last night CEO Gary Loveman described the social investment as "A lot of effort, not a lot of results."


Earlier this year CIE extended its agreements with Dragonfish and Barrière ahead of potential US regulation, while last month, at the start of the operator’s second quarter, Caesars received a $60.8m investment in CIE from Ohio-based casino group Rock Gaming.

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