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888.com Poker Leads The Way

888.com Poker Leads The Way 0001

In a trading statement to the London Stock Exchange, the publicly-listed company, 888.com, gave a brief trading update and announced its latest quarterly and half-yearly financial figures for its online gaming and poker operations.

On the trading front, 888.com & 888Sport stated that it “…continues its established long term strategy of geographic diversification and expanded product offering. Overall trading for the first six months of the year has been in line with Board expectations with an encouraging first half despite the seasonally quieter second quarter which was additionally influenced this year by the World Cup. The Directors remain confident about continued progress in the second half of the year…”

Turning to its detailed financial performance in the six months to 30th June 2006, 888.com provided the following details, clearly demonstrating the exceptional contribution being made from its online poker operation, Pacific Poker:

For the three months ended 30 June 2006, the following numbers (in US dollars) were returned:

- Net Gaming Revenue was $80 million, an increase of 23% above the second quarter of 2005. Of this, the NGR from casino was $45 million, an increase of 9% above the second quarter of 2005; while the NGR from poker was $35 million, an increase of 48% above the second quarter of 2005.

For the six months ended 30 June 2006, the following numbers (in US dollars) were returned:

- Net Gaming Revenue was $164 million, an increase of 32% above the first half of 2005. Of this, the NGR from casino was $90 million, an increase of 12% above the first half of 2005, while the NGR from poker was $74 million, an increase of 69% above the first half of 2005.

- During the first half of 2006, non-US deposits represented 48% of total group deposits, while 67% of new real money sign-ups were recruited from outside of United States of America.

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In the second quarter of 2006, quarterly Net Gaming Revenue per active casino member increased 13% compared to the first quarter of 2006. In poker, quarterly Net Gaming Revenue per active member increased 3% compared to the first quarter of 2006.

Key Performance Indicators were as follows:

Net Gaming Revenue and the number of active members was lower in the second quarter of 2006 than the first quarter, due to expected historical seasonal patterns but also allowing for the effect of the World Cup. Despite this, Net Gaming Revenue per active member increased “…highlighting the high value and stability of our core member base and product innovation strategy…”

- Net Gaming Revenue in the second quarter of 2006 was 4% lower than in the first quarter;

- The number of active members in the second quarter of 2006 was 281,402, 9% lower than the second quarter of 2005;

- Casino active members in the second quarter of 2006 was 71,242, 19% lower than the second quarter of 2005;

- Poker active members in the second quarter of 2006 was 210,160, 5% lower than the second quarter of 2005;

- In the second quarter of 2006, quarterly Net Gaming Revenue per active casino member was $628 compared to $554 in the first quarter. In poker, quarterly Net Gaming Revenue per active member was $167 compared to $162 in the first quarter.

- As at 30 June 2006, 888.com had 25.4 million registered member accounts out of which 6.3 million were real money registered member accounts, representing an increase in real money member accounts of 36% since 30 June 2005.

888.com has its headquarters, and is licensed, in Gibraltar, with offices in Tel Aviv,

Antigua and London.

It also offers a betting exchange (for non-US members only), other skill games such as checkers, backgammon and arcade games (888.tv) plus a free poker school and other casino games through 888.info.

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