Italy and Spain fuel 888 revenue growth

Online casino and online poker firm 888 reported a seven per cent increase in fourth quarter revenue, on the back of increased demand on mobile devices in Spain and Italy.

Online casino and online poker firm 888 reported a seven per cent increase in fourth quarter revenue, on the back of increased demand on mobile devices in Spain and Italy.

Fourth quarter revenue increased 7% year on year to US$97m while revenue for 2012 climbed 13% to $376m.

Chief Executive Officer Brian Mattingley commented: "Our success in Spain and Italy shows that we have the right product and technology led marketing to make significant inroads into new markets, and we will look to repeat that success in other regulating territories."

As at December 31st 2012, 888 had 13.1m Casino, Poker and Sport real money registered customer accounts, up 23% since December 31st 2011.

Mattingley added that the first quarter of its new financial year had started well.

"The high performance is driven primarily by Poker and newly regulated markets and is leveraged by our recent successful targeted marketing campaigns, ongoing focus on customer retention and increased investment in our mobile offering."

At January 31st 2013 the 888 had $88m of cash and cash equivalents and $48m liabilities to customers.

CJ

Recommended

Persimmon yields 12.3%, but can you trust the company to deliver?
Share tips

Persimmon yields 12.3%, but can you trust the company to deliver?

With a dividend yield of 12.3%, Persimmon looks like a highly attractive prospect for income investors. But that sort of yield can also indicate compa…
1 Jul 2022
Don’t try to time the bottom – start buying good companies now
Investment strategy

Don’t try to time the bottom – start buying good companies now

Markets are having a rough time, so you may be tempted to wait to try to call the bottom and pick up some bargains. But that would be a mistake, says …
1 Jul 2022
Share tips of the week – 1 July
Share tips

Share tips of the week – 1 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
1 Jul 2022
Bunzl: boring is good for business
Share tips

Bunzl: boring is good for business

Food-service distribution company Bunzl is not a terribly exciting business, but it looks cheap and could be a great investment, says Rupert Hargreave…
30 Jun 2022

Most Popular

UK house prices are definitely cooling off – but are they heading for a fall?
House prices

UK house prices are definitely cooling off – but are they heading for a fall?

UK house prices hit a fresh high in June, but as interest rates start to rise, the market is cooling John Stepek assesses just how much of an effect h…
30 Jun 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
22 Jun 2022
The ten highest dividend yields on Aim
Income investing

The ten highest dividend yields on Aim

Rupert Hargreaves picks the highest-paying dividend stocks on Aim, London’s junior market for small and medium-sized growth companies.
29 Jun 2022