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Betfair Posts first quarterly report for fiscal year 2015
Wednesday August 26,2015 : BETFAIR POSTS ENCOURAGING RESULTS
For first quarter 2016 fiscal period.
In its first quarterly report for fiscal year 2056, Betfair posted a 15 percent rise in group revenue along with impressive mobile results.
Key performance indicators for the three month period ending July 31, 2015 include:
- Group Revenue up 15 percent to GBP 135.4 million despite the comparative period containing the World Cup
- Revenue from sustainable markets up 24 percent to GBP 116.3 million (Q1/2015: GBP 93.7 million). These markets represent 86 percent of the group revenue.
- Sustainable revenue mix up to 86 percent (from 80 percent)
- Mobile revenues up 57 percent, with three quarters of UK customers now using mobile
- EBITDA up 19 percent to GBP 41.0 million, notwithstanding GBP 12.8 million of additional UK POC tax
In terms of business segments, key performance indicators for the period include:
- revenues increased 8 percent to GBP 89.9 million (Q1/2015: GBP 83 million)
- volumes up 89 percent, including a 142 percent increase in in-play betting
- revenue up 27 percent from GBP 19.8 million to GBP 25.1 million.
- Mobile used by the majority of gaming customers, contributing to an 89 percent increase in revenue from mobile.
- revenues amounted to GBP 20.1 million, up 42 percent compared to Q1/2015.
“These results represent another strong performance,” commented Breon Corcoran, chief executive officer of Betfair. “Double-digit revenue growth against the period containing the World Cup last year is particularly encouraging and was ahead of our expectations.
“Betfair’s current momentum is strong and the business remains well placed to execute against our strategy and to continue to deliver profitable growth”.
On the proposed merger with Paddy Power , Corcoran said: “The proposed merger with Paddy Power is hugely exciting. It would create a truly global sports betting group with unmatched products and talent, and significantly enhanced scale. The combined business would be one of the world’s largest online sports betting operators, with revenues totalling more than £1 billion.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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