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888 Poker Revenue Grows 21 Percent In Q3 2012

Online Poker Giant Continues To Buck Trend With Another Revenue Leap

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888, the online gaming company, has seen its poker revenue continue to buck global downward trends with a jump of 29 percent to $22 million in the third quarter 2012 compared to $18 million in the same period a year earlier.

However the revenue growth has slowed somewhat from last quarter and companies such as bwin.party and Playtech continue to struggle in the online poker sector.

The number of active poker customers grew 14 percent to 349,000 compared to the third quarter of 2011.

Quarterly revenue in poker, per customer, was $63 up six percent compared to a year earlier.

In the first nine months of 2012 poker revenue expanded 50 percent to $63 million compared to $42 million in the first nine months of 2011.

Brian Mattingley, chief executive officer, said, “Our core business has continued to perform well during the quarter, with our targeted marketing campaigns contributing towards our ongoing success and Spain outperforming our expectations.

“The final quarter has started positively with average daily revenues more than seven percent ahead of the strong Q4 2011.

“A disciplined approach to our costs, and our analytics driven marketing spend proving highly efficient, means we now expect our EBITDA for the full year to be significantly ahead of current market expectations."

888 Holdings shares were up almost 10 percent to 101.75 pence at the time of writing.

Overall the company, which also offers casino, bingo and sports book, saw group revenue up seven percent in the first nine months of the year to day to $92 million from $86 million last year.