Unibet Reports Strong Growth in Live Betting
Unibet, the Swedish online gambling firm, has reported its earnings for the second quarter of 2009.
Gross Winnings Revenue amounted to GBP 30.0 (27.9) million for the second quarter of 2009 and GBP 66.2 (59.2) million for the first half year 2009.
Profit from operations for the second quarter of 2009 amounted to GBP 1.9 (6.1) million. Profit from operations for the first half year 2009 amounted to GBP 12.8 (16.4) million.
Profit before tax for the second quarter of 2009 amounted to GBP 5.9 (4.0) million. Profit before tax for the first half year 2009 amounted to GBP 16.6 (6.9) million.
Profit after tax for the second quarter of 2009 amounted to GBP 5.4 (3.5) million. Profit after tax for the first half year 2009 amounted to GBP 15.3 (5.7) million.
Earnings per share for the second quarter of 2009 were GBP 0.192 (0.127) and GBP 0.548 (0.205) for the first half year 2009.
Operating cash flow before movements in working capital amounted to GBP 4.6 (8.4) million for the second quarter 2009 and GBP 18.1 (21.6) for the first half year 2009.
Number of active customers at the end of the quarter was 309,099 (316,780).
"Strong growth in live betting"
"The EBITDA for the second quarter includes a foreign exchange loss of GBP 3.0 million mainly on cash balances retranslated into GBP and the finance net includes a retranslation gain on the Bond of GBP 5.3 million. The following table gives an explanation of the impact on Profit from operations of the GBP 3.0 million retranslation loss:
"Continued strong development for live betting combined with a weak quarterly margin on traditional Sportsbetting made live betting account for 37.3 per cent (23.2 per cent) of gross winnings from sports betting."
"We have been very active with marketing and thereby investing for the future in establishing Unibet in our emerging markets with attractive terms given the current economic climate".
"Unibet continues to be on the forefront driving the convergence between on line gambling and broadcasting with more than 1,800 streamed sports events during the second quarter and the Launch of Live Dealer Casino for our customers," says Petter Nylander CEO Unibet.
