Financial Highlights
Revenue increased 7% to US$200.1m (H1 2012: US$186.4m)
B2C Revenue increased 8% to US$177.0m (H1 2012: US$163.6m)
Adjusted EBITDAincreased 7% to US$38.6m (H1 2012: US$36.0m)
Adjusted EBITDA margin maintained at 19.3% (H1 2012: 19.3%)
PAT increased 205% to US$32.1m (H1 2012: US$15.7m)
Adjusted EPS increased 37% to 9.9 cents per share (H1 2012: 7.2 cents)
Interim dividend of 3.0 cents per ordinary share (H1 2012: 2.5 cents)
Operational Highlights
Strong performance driven by Casino and Poker:
o Poker up to number four in global PokerScout rankings
o Excellent Casino performance driven by CRM activity
Agreement with Kambi Sports Solutions to develop 888sport
Mobile now fastest growing channel across all products representing 17% of UK revenue
Excellent success in Spain and Italy with further growth opportunities
JV agreement signed in March with Avenue Capital Group creating the All American Poker Network (AAPN) to launch comprehensive B2C gaming offering in US market upon regulation
Approval as Interactive Gaming Service provider by the Nevada Gaming Commission
Recent Developments
Agreement signed in August with Caesars Interactive Entertainment (CIE) through the Group's All American Poker Network (AAPN) joint venture with Avenue Capital allowing 888 to offer own-branded Poker and Casino products in New Jersey, subject to required regulatory approvals
Brian Mattingley, CEO of 888, commented:
"I am delighted to report another set of excellent results. Record revenue for the first half has been driven by the continued strength of our core Casino and Poker products and our ability to maximize revenue through our exceptional platforms and best-in-class marketing systems.
We are making good progress in new markets with tremendous success in Spain and Italy where we see further opportunities for growth. These experiences have given us further confidence in our ability to capitalize on the exciting US opportunity which continues to develop and we believe our strategy and partnerships ensure that we are well positioned to maximize market share as that market becomes regulated."
