The third quarter was not the best one for 888.coms B2B subsidiary, Dragonfish who saw a 10 percent drop in income compared to last year.
The financial highlights are as follows: * Total Operating Income $61million during the historical seasonally quiet summer period * Total Operating Income B2B (Dragonfish) at US$13 million * Total Operating Income B2C at US$48 million, mainly from online casino performance.
Operational Highlights included:
* Pioneering GBP 8,888,888 Pirates Millionaire free spin slot machine launched in UK, coupled with TV campaign (see previous InfoPowa report) * Dragonfish B2B deal with Harrah's announced in September, progressing on track to launch the WSOP and Caesars online casino and poker brands by next week * Dragonfish launched poker and casino in the Balkans and signed an agreement with Tsogo Sun Gaming Group in South Africa * Moon Bingo launched as a new standalone bingo network following the success of the skin on the Dragonfish network The CEO of 888.com Gigi Levy said: "We are pleased with the results achieved during the third quarter. Our B2C business showed resilience during the historical seasonally weak summer period and Dragonfish has continued its impressive growth. With Harrah's set to launch in coming days and a strong pipeline, we remain confident of reaching our targets. "We are particularly pleased with the 99 percent growth achieved in our B2C emerging segment during the first three quarters of the year. Whilst Poker remains challenging the B2C business showed resilience during the third quarter. The fourth quarter started well and given that our various business initiatives are progressing as planned we expect to grow the business further during the year." The group has around US$105 million cash equivalents (of which approximately US$35 million represent liabilities to customers) and has no registered debt.
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