888 Holdings plc Trading Update and Capital Markets Event (0066B)
June 04 2019 - 2:00AM
UK Regulatory
TIDM888
RNS Number : 0066B
888 Holdings plc
04 June 2019
4 June 2019
888 Holdings Public Limited Company
('888', the 'Company')
Trading Update and Capital Markets Event
Trading Update
888, one of the world's most popular online gaming entertainment
and solutions providers, is pleased to announce a trading update
covering the period from 1 January 2019 to 18 May 2019 (the
"Period").
During the Period, Group revenue increased by 6% on a like for
like basis* (2% increase on a reported basis). This performance has
been underpinned by increased marketing investment and the release
of the Group's Orbit Casino platform, which together have driven
new customer acquisition up by 20% year on year. The Group's strong
momentum has continued across a number of the Group's global
regulated markets driven by Sport (29% increase*) and Casino (13%
increase*) partly offset by Bingo (flat*) and challenging Poker
(28% decline*).
Further to the announcement of 888's 2018 Financial Results in
March 2019, the Group has continued to achieve encouraging growth
during the Period in the UK market with revenue increasing by 18%
on a like-for-like basis* (8% increase on a reported basis). In
line with the Group's UK customer focus, the vast majority of UK
revenue has been generated by recreational customers.
Underpinned by this encouraging start to the financial year, the
Board remains confident that the outcome for the full year will be
in line with its expectations.
Itai Pazner, CEO of 888, commented:
"888 has enjoyed a solid start to the year with strong momentum
in Casino and Sport across a number of the Group's major regulated
markets. Whilst Poker has remained challenging, we were pleased to
see an improving revenue trend in Q1 2019 against Q4 2018. In
addition, we are very encouraged by a 20% increase in first time
depositors across the Group's B2C business in the Period; this
reflects 888's outstanding marketing capabilities and is a key
indicator of our growth prospects.
As a diversified operator that owns its own technology, the
Board continues to believe that 888 has a unique platform to
deliver continued growth in the dynamic global online gaming
industry."
* At constant currency, adjusted for the migration of Cashcade
Bingo and the acquisition of Costa bingo and AAPN.
Capital Markets Event
Later this afternoon the Company will host a Capital Markets
Event for investors and sell-side analysts in London. At the event,
888's senior management team will provide a series of presentations
on the Group's growth strategy, technology leadership, and focus on
safe gambling. No additional material information will be provided
during the event. The presentation materials and a webcast of the
event will be available on the Company's corporate website later
today.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION (EU) NO 596 /2014.
The person responsible for making this announcement is Itai
Pazner, Chief Executive Officer of the Group
Contacts and enquiries:
888 +350 200 49800
Brian Mattingley, Chairman
Itai Pazner, Chief Executive
Officer
Aviad Kobrine, Chief Financial
Officer
Hudson Sandler (Financial 888@hudsonsandler.com or +44(0)
PR) 207 796 4133
Alex Brennan / Bertie Berger
/ Hattie O'Reilly
Notes to Editors:
888 Holdings plc (and together with its subsidiaries, "888" or
the "Group") is one of the world's most popular online gaming
entertainment and solutions providers. 888's mission is to supply
its customers with innovative and market-leading online gaming
products, above all in a safe and secure environment.
888 has been at the forefront of the online gaming industry
since foundation in 1997, providing to players and B2B partners an
always innovative and world-class online gaming experience. At the
heart of 888's business is its proprietary gaming technology and
associated platforms.
The Group is structured into two lines of business: B2C, under
the 888 brands, and B2B, conducted through Dragonfish, which
provides partners a leading platform through which to establish an
online gaming presence and monetise their own brands.
888's consumer facing websites offer more than just online
gaming. They are entertainment destinations: places where people
can enjoy a truly interactive experience and be part of an online
community that shares common interests. 888's strong and trusted
brands are all accessible through www.888.com.
Find out more about 888 at http://corporate.888.com/.
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements". By their nature,
forward-looking statements involve risk and uncertainty since they
relate to future events and circumstances. Forward-looking
statements may and often do differ materially from actual results.
Any forward-looking statements in this announcement reflect 888's
view with respect to future events as at the date of this
announcement. Save as required by law or by the Listing Rules or
the Disclosure Guidance and Transparency Rules of the UK Listing
Authority, 888 undertakes no obligation publicly to release the
results of any revisions to any forward-looking statements in this
announcement that may occur due to any change in its expectations
or to reflect events or circumstances after the date of this
announcement.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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