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Unibet Q1 Earning Results
Online gambling group Unibet plc has reported a promising first quarter for 2009 that includes a 15 percent increase in gross winnings to GBP 36.1 million (Q1 2008: GBP 31.3 million) and a 270 percent increase in pre-tax profit to GBP 10.7 million (Q1 2008: GBP 2.9 million)
Highlights from the report, which will be discussed later today (Monday) by Unibet’s CEO Petter Nylander and CFO Henrik Tjärnström, include:
* Gross winnings revenue GBP 36.1 million for the first quarter of 2009.
* Profit from operations up at GBP 10.9 (Q1 2008: GBP 10.3 million.)
* Profit before tax for the first quarter well up at GBP 10.7 (Q1 2008: GBP 2.9 million.)
* Profit after tax rose to GBP 10.0 (Q1 2008: GBP 2.2 million.)
* Operating cash flow before movements in working capital amounted to GBP 13.5 million (Q1 2008: GBP 13.2 million)
* Number of active customers at the end of the quarter was 314 977, up 8 percent from the same period a year ago.
Petter Nylander, CEO of Unibet, said: “Our strong business model and the well balanced product portfolio have resulted in another strong quarter in terms of gross winnings and operating cash flow.
"During the quarter the number of active customers increased by almost 8 percent and we have continued our successful geographic expansion.
“The experience and structure capital that we have gained in our own sports book gives us a competitive advantage in many areas and are fundamental in the strength of our brand and our customers user experience."
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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