RE: Buyback details4 Jun 2019 14:47
Yes looking forward to the next trading update. One of XLMedia's major customers has just published a very good trading update which has reflected favourably on other gambling groups sp such as GVC. Bit surprising therefore to see XLM sp reacting neagtively today.
888 Holdings Public Limited Company
Trading Update
888, one of the world's most popular online gaming entertainment and solutions providers, is pleased to announce a trading update covering the period from 1 January 2019 to 18 May 2019 (the "Period").
During the Period, Group revenue increased by 6% on a like for like basis* (2% increase on a reported basis). This performance has been underpinned by increased marketing investment and the release of the Group's Orbit Casino platform, which together have driven new customer acquisition up by 20% year on year. The Group's strong momentum has continued across a number of the Group's global regulated markets driven by Sport (29% increase*) and Casino (13% increase*) partly offset by Bingo (flat*) and challenging Poker (28% decline*).
Further to the announcement of 888's 2018 Financial Results in March 2019, the Group has continued to achieve encouraging growth during the Period in the UK market with revenue increasing by 18% on a like-for-like basis* (8% increase on a reported basis). In line with the Group's UK customer focus, the vast majority of UK revenue has been generated by recreational customers.
Underpinned by this encouraging start to the financial year, the Board remains confident that the outcome for the full year will be in line with its expectations.
Itai Pazner, CEO of 888, commented:
"888 has enjoyed a solid start to the year with strong momentum in Casino and Sport across a number of the Group's major regulated markets. Whilst Poker has remained challenging, we were pleased to see an improving revenue trend in Q1 2019 against Q4 2018. In addition, we are very encouraged by a 20% increase in first time depositors across the Group's B2C business in the Period; this reflects 888's outstanding marketing capabilities and is a key indicator of our growth prospects.
As a diversified operator that owns its own technology, the Board continues to believe that 888 has a unique platform to deliver continued growth in the dynamic global online gaming industry."