888 incomes prove success that can be reached in the Spanish market

(Spain).- Income obtained and the growth that 888 Holdings has experimented in Spain say that economic problems of the country do not have such an impact in the recreational gaming industry as expected.

2012-11-06

Spain

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(Spain).- Income obtained and the growth that 888 Holdings has experimented in Spain say that economic problems of the country do not have such an impact in the recreational gaming industry as expected.

These news would relieve those operators that are starting their operations in the regulated Spanish market. Some of them, such as PokerStar.es and bwin.party, who have recently launched www.binguez.es, Spanish bingo website. During the three months previous to September 30th, the incomes of the gaming company have grown a 7%, reaching us$ 92 million.

Nick Batram, Peel Hunt analyst, pointed that such success had to do with the adaptation capacity of the company to the new restrictions imposed to operators in Spain: "The most remarkable for me is that 888 has managed to enter to the recently regulated Spanish market and make it work almost immediately.”

"This year, Spanish company 888 will probably disrupt with the loss expectations, and next year, the benefits should consolidate the brand in the market,” said Batram.

Brian Mattingley, Executive Director of 888 Holdings, thinks that the success in the Spanish market is just part of the explanation on how have incomes grow in the financial year. Mattingley believes that tactic promotion and economic awareness have helped on the same way to this grow: "A disciplined approach of our costs and our expense in analytical guidelines of marketing prove our high efficiency,” it means, we expect that the profits of the year will be significantly superior to the current market expectations, once EBITDA was deducted".

The greatest growth of 888 has been attributed to poker products, which grew a 21% up to us$ 22 million. The number of registered customers in the sportsbooks pages, casino and poker was also incremented a 24% since the same period last year.

Nowadays, 888 Holding customer base has 12.5 million members. 888 bingo games has incomes of around us$ 13 million. Despite important organizations, such as PokerStars and Sky Bingo, must learn something with the success of 888 Holdings in terms of strategical marketing in Spain; new Internet pages such as Bovada.Iv and Binguez.es have to learn how to take advantage from the market with this example.