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888 Publishes Promising Q1 Financials


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The Q1 revenues of 888 Holdings have risen by a notable 25 per cent to
$94 million compared to the same period last year, according to the leading
online gambling firm’s recently published trading update for the first quarter
of 2012.

Based in the online gambling-friendly jurisdiction of Gibraltar, 888 is one of
the most successful internet gaming firms on the planet, after reporting total
revenues for the last financial year of $331.1 million, a 26 per cent rise 
year-on-year.

The respected gaming firm attributed its 2011 financial results to a marked
growth in its business-to-business and business-to-consumer sectors. Now, it
appears to be on track to chalk up another bumper financial year if 888’s 2012
Q1 results are anything to go by.

2012 Q1 Revenues 4% Better than 2011 Q4 Revenues

The results showed that 888’s total Q1 revenues were four percent better than
the fourth quarter of last year, while its business-to-consumer bottom line grew
year-on-year by 29 per cent. Its quarter-on-quarter earnings grew five per cent
to $83 million, which has been attributed to 888’s highly successful online
poker and casino offerings.

Thanks to a successful ongoing marketing and player recruitment programme, 888
reported an increase in its active players to 566,000 in Q1, an 87 per cent
increase year-on-year, and even more proof that the gaming firm is on track to
break all of its previous financial records again this year.

Said newly appointed 888 CEO, Brian Mattingley, ‘Our focused strategy has led to
another excellent quarter with ongoing strength in poker driving March to the
highest ever monthly revenues in the history of 888. Poker has continued its
robust performance in the early stages of the second quarter with our other
product areas seeing an expected return to seasonal patterns.’

888 Has Identified Several Key Growth Opportunities

Mattingley also pointed out that 888 has identified several key growth
opportunities going forward, particularly with regard to the legalisation and
regulation of new online gambling markets, which will require some investment on
the firm’s part. ‘We will continue to invest throughout 2012 in order to build
market share,’ he said.

With 888’s first quarter results of 2012 neatly
squared away, the firm admitted that the first three weeks of its Q2 have also
been very strong so far, with daily revenues an average of one per cent higher
than those recorded in Q1, with an overall year-on-year growth of 26 per cent.

Read a statement from 888 Holdings: ‘Although we expect to see a return to
the historic seasonal pattern as we move through the quarter, given the strength
of the business and our continued strategic focus we are confident of further
progress during the year.’

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