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888 – 38% Net Revenue Increase


May 8th, 2008

888 Holdings has reported net gaming revenues of $64 million for the first quarter of 2008, up 38% versus the same period last year, buoyed by a 35% increase in casino net gaming revenues to $35 million.
 
Poker net gaming revenues increased 5% compared to Q1 2007 and 2% against the previous quarter to $22 million, while emerging offerings also showed good growth with net gaming revenues amounting to $8 million, a quarter-on-quarter increase of 23%.

Total operating income increased 41% on the period last year, and 2% on Q4 2007 to $66 million. The number of active casino and poker customers increased 2% versus the previous quarter to 213,115 from a total real money registered customer base of 4.9 million.

Commenting on today's announcement, Gigi Levy, 888's Chief Executive Officer, said: "We are delighted with our Q1 2008 results, especially given that we achieved further growth in the quarter well and above the unusually high Q4 2007. Our growth has continued into Q2, driven particularly by Casino and Bingo and so far we have not experienced any impact of the historically quieter seasonal period. Our various business initiatives are progressing well and we are therefore confident in delivering future growth during 2008."


 

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