888 Reports Strong Third Quarter

30 October 2007

Online operator 888 released Q3 KPIs this morning highlighting a 37 percent jump in net gaming revenue (NGR) to $52.5 million versus Q3 '06.

888 Chief Executive Gigi Levy said he was pleased with the results, adding that NGR for the quarter rose 5 percent higher than the previous three-month period.

Levy called September "our best month since we withdrew from the United States," and said that October's figures, fueled by the launch of the group's U.K.-targeted "Playful Minds" televised ad campaign and Italian sportsbook, had already exceeded September's.

NGR for what it termed "emerging offerings"--bingo and backgammon--totaled $4.9 million (no figures were reported last year).

The company said NGR for poker and casino was up 24 percent to $47.6 million against $38.3 million during Q3 '06, with active customers up 17 percent to 209,811 against 2006.

Real-money sign-ups were also up 32 percent to 4.4 million versus last year.

888 said that trading for the fourth quarter has "started strongly," and that during the first 26 days of October, daily revenue in casino and poker was up approximately 11 percent against the previous quarter.

Levy maintained that the company is confident about its performance "in 2007 and beyond."

Shares in the London-listed firm were down 0.50p to 120.00.

Chris Krafcik is the editor of IGamingNews. He lives in St. Louis, Mo.