Announcing the appointment of its new CEO, 888 plans to capatalise on the opportunities that lie ahead in the US.
The online gaming entertainment and solutions provider posted a 26 per cent increase in revenue to US$331.1m for the year ended December 31, as well as announcing the appointment of Brian Mattingley as its new chief executive officer with immediate effect.
Mattingley has been deputy chairman of 888 since March 2006 and was appointed to the board in August 2005. Richard Kilsby, chairman of the board of 888, commented: "The exceptional results reported today are a testament to Brian and his team and the renewed focus on core competencies that he has instilled throughout the business. 888 is in an excellent position and, as the industry moves towards a greater emphasis on regulation, notably in the US, his experience will enable 888 to capitalise on the opportunities ahead."
Mattingley cited the success of the company’s Poker 6 platform as one of the reasons for “exceptional growth” across all key metrics, as well as refocusing on core product offering in 2011. “We are more than ready to take advantage of liberalisation in the industry We have a unique position in the US allowing the launch of a real money offering immediately as either federal or state-based regulation is finalised and upon licensing by gaming authorities.
“The promising start of 2012 demonstrates healthy growth over and above the strong Q4 2011 and underpins our strategy and expectations for 2012,” said Mattingley.
The group reported that average daily revenue in the first quarter of the year was up more than two per cent on Q4 2011, with average daily new customer recruitment more than 15 per cent above the previous quarter.
With the opening of several newly regulated markets across Europe and the US potential, the group intends to invest in these markets in order to establish and build market share. Kilsby commented: “While the impacts of regulatory changes are difficult to predict, we believe that we have now created a great platform for the future and are confident about the group’s full-year prospects.”
