BUSINESS

888 Holdings releases mixed Q3 results

TAGs: 888 Holdings, 888.com, Dragonfish, results

888-holdings-mixed-results888 Holdings today released their third quarter figures and were happy with what they saw despite it historically being a slow period for the industry. As one of the world’s most popular online gaming entertainment companies the figures don’t jump out at you but they’re far from unimpressive. Operating Income for the entire group stayed stable compared with the previous quarter at $61million. It was their B2C operating income, meanwhile, where the largest improvements were seen.

Compared with the same period last year, total B2C income was up 14% for the first nine months of year to $162m. They hit the jackpot in their increasingly successful bingo division though. B2C operating profit here was up 356% for the nine months to September 2009 to $36m.

Dragonfish’s total B2B operating income, however, was down 27% Q3 2009 and stood at $9million, but as CEO Gigi Levy explained there is no reason to be overly worried.

“We are pleased with the results achieved during the third quarter. Our business showed resilience during the historical seasonally weak summer period, with growth in Poker. The fourth quarter has started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year.”

These results, combined with the fact that as of September they had 8.2m Casino, Poker, and Sport real money accounts registered, an increase of 21% on September 2009, leave plenty of reasons to be optimistic.

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