888 Holdings plc
14 September 2006

888 Holdings Public Limited Company

('888' or the 'Company')


Interim Results for the six months ended 30 June 2006





888, one of the world's most popular online gaming entertainment companies,
announces its interim results for the six months ended 30 June 2006.


Financial Highlights


Profit before tax* up 88% to $48.0m (H1 2005: $25.6m)
Net Gaming Revenues ('NGR') up 32% to $163.5m (H1 2005: $123.7m)
Profit before tax* margin up to 29% (H1 2005: 21%)
Operating expenses % of NGR down to 25.6% (H1 2005: 28.0%)
Cost per acquisition** of US$165 (H1 2005: US$200)
Net cash generated from operating activities up 109% to $56.1m (H1 2005:
$26.8m)
Basic EPS* up 89% to 13.8c (H1 2005: 7.3c)
Interim dividend of 4.5c per share
Special dividend of 4.0c per share


* 2006 - excluding share benefit charges


** Excluding customers recruited on a revenue share basis.


Operational Highlights


Geographical expansion outside US - 48% of NGR from non-US territories
and 67% of new real money sign ups from non-US territories


Rapid growth in NGR in the UK up 61% and Continental Europe up 16%


Increased yields per member from Casino and Poker divisions


Continued technological innovation


Continued investment in the 888 brand through sports sponsorships
including two new football sponsorships with Sevilla FC and Toulouse FC in
addition to the World Snooker Championship and a third year with
Middlesbrough FC


Commenting, John Anderson, CEO of 888 said:


'These are excellent results and represent a record performance of profitable
growth. We have delivered on all our flotation goals.


Trading during the first 10 weeks of Q3 is in line with management expectations
and we are on track to achieve a satisfactory outcome for the full year.

As of 31 December 2006, I shall step down as CEO and take the role of
non-executive Director. The current COO, Gigi Levy will succeed me as CEO.
Gigi is an excellent, experienced individual who is more than capable of taking
on this challenge.

I am proud to have led 888, since 2000, through its formative years into the
success it is today. Over the past six years, 888 has been a pioneer in the
online gaming industry.'



An audio replay of the presentation to analysts will be available from the
investor relations section of 888's website (
http://www.888holdingsplc.com

"..a talkative type in a Savile Row suit.." so probably a guy working for an arbitrage company trying to talk it up???

lol hc - maybe??

this may be mentioned soon, bit of recyclyled city news:-

888 is rumoured to have held further discussions with potential rival bidders, including Sportingbet and private equity-owned US gambling giant Harrah's, in addition to other overseas based gaming interests & apparently - not from me but apparently "it could be likely this will flush other bidders out of the woodwork" said one industry source. "They've been looking to do something for a while." Its not just Ladbrokes in the loop - hence the rumour of the 80p from Ladbrokes - I may get me self some more very early Monday morn. gl
& lol Ladbrokes sees massive advantages to a deal with 888, given that it would pep up the company's online offering and enhance its position in the casino and poker businesses. It also offers a business to business service, providing games for others and, crucially, a business to Government offering. The latter is important as countries ease regulation on gaming as they seek to generate tax revenues.

15/1/11 - '
Gibraltar-based PartyGaming, which merged with Austrian gaming firm bwin to become the world's largest gaming group, fell to 207p and ended 3.3p off at 211.40p. 888 Holdings, which is still expected to be soon be swallowed by Ladbrokes (0.8p easier at 128.1p), ended 7.25p or 11.6% down at 55p. '

http://www.thisismoney.co.uk/markets/article.html?in_article_id=521260&in_page_id=3

something will happen for sure in my view and it might not just be ladbrokes - william hill in addition to the others said to be interested, and from ladbrokes & 888's own mouths:

'Full review of the business

The talks with 888 are one of the first major moves by Ladbrokes' recently appointed chief executive Richard Glynn, who is carrying out a full review of the business including how to improve its online offer.

Mr Glynn joined in April from betting firm Sporting Index with a 12 million incentive to double the share price of the group, which traces its history back to 1886, has more than 2,700 betting shops and is a market leader in the UK, Ireland, Belgium, Italy and Spain.

888 has made no secret of its intention to join with a rival, following in the footsteps of industry peers PartyGaming and Bwin, which announced they would merge in July.

888 chief executive Gigi Levy said in August: "We look at consolidation as one of the possible routes to realising our full value and feel that longer term this is the direction the industry will take.'

i would not want to be outta 888 right now!! lol

i would be very nervous if i held and would be keeping a close eye on where sp heads next .... further south and sharply looks favourite

Or a big bounce off the 50 DMA?

lets hope for the bounce - he who dares & all that!!


Current Ladbrokes Takeover Offer Nearly Half 2006 Offer
The talks that took place in 2006 were for a similar take over but the value of 888 in 2006 was put at 470 million, while now the deal is reported aiming at the 240 million - maybe higher for Ladbrokes competitor. This clearly shows a major shift over the past 4 four years in the value of 888 Holdings, which has actually began showing strong signs of improvement late in 2010. The poker side of 888 has steadily grown in strength and traffic after a dramatic marketing and promotional shift in the Autumn of 2010. In the last two months 888's poker traffic has improved by nearly 40%.

The takeover talks are no big surprise to those within 888 as company CEO, Gigi Levy, discussed the possibility of a merger with eGR Magazine back in August 2010 saying it was "highly likely". This came after confirmed news that bwin and PartyGaming were merging in early 2011. The news of major mergers have continuously rocked the online poker community, but at the same time have been expected after the market was flooded with poker rooms during the boom years from 2003-2006.

How IPOs Play into the Ladbrokes and 888 Merge Discussion
One of the largest trends in online gaming has been the launching of IPOs and becoming publicly traded on Europe's various stock exchanges.With bwin and PartyGaming, the two largest publicly traded gaming companies in the world, merging in 2011, it is important for competitors to stay with them. Both 888 and Ladbrokes are traded on the London Stock Exchange meaning that their merger would be complex and also pool considerable resources.

Falling stock prices might also be what is pushing the two companies together. As mentioned before 888 has seen a change in traffic recently, however in May of this year they posted a profit warning and their stock began tumbling. This downturn in stock price and overall company liquidity more than likely is what is pushing them to merge. Ladbrokes would also be a perfect suitor if and when the takeover is finalized. Ladbrokes is hoping to make a stronger break into the poker market and 888 needs a strong partner and source of cash to keep the company running.

Ladbrokes is pushing at serious performance increases across the board over the next few years and major mergers like this possible one with 888 is most definitely a way to diversify with another major poker company.

sort of exactly so .... if i was a holder, i would stay put until/unless sp crashes through what ought to be good support or rebounds sharply from it, as you suggest

interesting - newspaper chatter............

'talks with ladbrokes have hit a stumbling block over the price.An offer was made last month but was rejected by 888.......................' 'ladbrokes quoted as likely to pull out of bid & only 50/50 chance of go ahead'

results are due tomorrow - good for trading here tomorrow perhaps i expcet?

i'm sure there are worse looking charts, but this looks a stinker

StockMarketWire.com
Nevada's Gaming Control Board has given the green light to a long-term agreement between online gaming group 888's Dragonfish B2B division and Caesars Interactive Entertainment.

Under the agreement, Dragonfish will provide services to support the UK launch and roll-out of CIE's World Series of Poker and Caesars Casino brands.

CIE is a subsidiary of Caesars Entertainment Corporation which is which is registered with the Nevada Gaming Commission.

The application relates to state law that covers Nevada gaming companies conducting gaming outside the state.

The Nevada Gaming Commission will now consider the application on 24 March.

888 Holdings
FTSE Smallcap
Consumer,
Cyclical
Sell
Target 18
Current Price 44.75
Difference -59.8%
Investec

http://www.igmarkets.co.uk/cfd/uk-ratings.html

StockMarketWire.com
Online gaming group 888 has reached an agreement to reschedule the earn out payment on Wink Bingo which was due in May.

888 said Wink Bingo had been an extremely successful acquisition, performing significantly above expectations and the earn out payment is expected to be at the upper end of the earn out range.

888 says the earn out period ends on 31 March and the final amount payable will not be known until May.

Under the revised payment terms 888 will make an immediate payment of 9.26m and further payments of 9.26m on 21 May and 6.173m on 31 August.

The balance will be payable on 21 May 2012.

Payments due after 21 May 2011 will bear interest.

Nevada Gaming Commission approves Dragonfish
Following the announcement of 10 March 2011 888 can confirm that, on 24 March 2011, the Nevada Gaming Commission considered and approved the application for a finding of suitability concerning Caesars Interactive Entertainment, Inc.'s supplier relationship with Dragonfish.

The application relates to state law in Nevada that covers Nevada gaming companies conducting gaming outside the state of Nevada.

Gigi Levy, Chief Executive Officer of the Company, stated "We are pleased with the successful outcome of this review by the Nevada Gaming Control Board and Nevada Gaming Commission. We look forward to our continued relationship with Caesars."

888 earnings slump


Online gaming group 888 Holdings reported revenue up 6% to $262.1m in the year to end-December 2010 (2009: $246.7m), with EBITDA of $28.6m, down from $45.6m.

B2C revenue was up 13.5% to $221.7m (2009: $195.4m).

B2B Revenue was down 21.2% to $40.4m (2009: $51.3m), but up 4% on a pro-forma basis.

EBITDA was $28.6m (2009: $45.6m), impacted by increased marketing spend, the World Cup and a poker industry decline in H1.

As at 31st December 2010, 888 had 8.7 million Casino, Poker and Sport real money registered customer accounts, representing an increase of 23% since 31st December 2009.

Agreement has been reached with Wink Bingo vendors on payment of earn-out.

888 said the first quarter of 2011 has begun strongly with average daily revenues increasing by approximately 7% compared to a record performance in Q4 2010. Continuing the very positive trends of the previous quarter new customer acquisition has also increased 7% over the same period.

Discussions with Ladbrokes are ongoing. A further announcement will be made as and when appropriate.

Gigi Levy, CEO, commented: 'Following a challenging start to the year 888 finished 2010 strongly. Due to steps taken throughout the year we ended the year with record 18% quarterly sequential growth in Q4, and Revenue grew 6% compared with 2009.

'888 has begun the year with strong current trading and continues to make good progress across all segments of the business. We have an exciting base on which to build in 2011, with a high proportion of sustainable locally regulated earnings and a well diversified business, product line and geographic revenue stream. We expect that soon to come further improvements in our product offering will lead to increased success in driving players to our sites and retaining them going forward. This, alongside our expanding licensee base within Dragonfish, puts us in a strong position for the future.'

Up 18% this morning

StockMarketWire.com
Online gaming group 888's revenues rose to $75m in the three months to the end of March - 9% up on last year and 6% higher than a strong fourth quarter.

888 had 9.2 million casino, poker and sport real money registered customer accounts at the end of the first quarter - 21% up on last year.

The group said trading at the start of Q2 had continued to be strong but it was now entering the historically weaker summer period.

Whats happening..?

Further to the announcement made by 888 on 20 December 2010 concerning discussions with Ladbrokes plc regarding a possible transaction, the Board of 888 announces that the parties have agreed to discontinue talks.

interesting buy in price currently - i wonder if more of a drop tomorrow or bounce this afternoon