Business
Final Results - Part 2
Final Results - Part 2.
About this update from Evoke Plc
[{"type":"text","content":"\n 888 Holdings plc\n08 April 2008\n\n\nPart 2\n\n\n\nNotes to the Consolidated Financial Statements\n\n\n\n1 General information\n\nCompany description and activities\n\n\n\n888 Holdings Public Limited Company (the 'Company') and its subsidiaries\n(together the 'Group') was founded in 1997 and originally operated as a holding\ncompany domiciled in the British Virgin Islands. On 12 January 2000, the\nCompany was continued in Antigua and Barbuda as a corporation under the\nInternational Business Corporation Act 1982 with registered number 12512. On 17\nDecember 2003, the Company redomiciled in Gibraltar with the Company number\n90099. On 4 October 2005, the Company listed on the London Stock Exchange.\n\nThe Group has developed and is the owner of innovative proprietary software\napplications solutions for virtual Casinos, for Poker rooms, e-commerce,\ncredit-card clearing services and online advertising methodologies. The Group\nalso offers Sports betting, Bingo games and Backgammon to end users as well as\nbusiness partners.\n\nCassava Enterprises (Gibraltar) Limited and Brigend Limited (both subsidiaries)\ncarried out the operations of the Group during the year, principally under the\nname www.888.com under the terms of a gaming license issued in Gibraltar.\n\nDefinitions\n\nIn these financial statements:\n\n\nThe Company 888 Holdings Public Limited Company.\nThe Group 888 Holdings Public Limited Company and its subsidiaries.\nSubsidiaries Companies over which the Company has control (as defined in International Accounting Standard\n 27 'Consolidated and Separate Financial Statements' and whose accounts are consolidated with\n those of the Company.)\nRelated parties As defined in International Accounting Standard 24 - 'Related Party Disclosures'.\n\nEmerging Comprises of the group's offering of Bingo games to end users and business partners,\nOfferings Backgammon and betting exchange.\n\n\n\n2 Significant accounting policies\n\nThe significant accounting policies applied in the preparation of the financial\nstatements are as follows:\n\nBasis of preparation\n\nThe consolidated financial statements of the Group have been prepared in\naccordance with International Financial Reporting Standards, including\nInternational Accounting Standards ('IAS') and Interpretations, adopted by the\nInternational Accounting Standards Board ('IA...