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MODERATE THIRD QUARTER FROM UNIBET
Third Quarter revenues decline but YTD still Healthy
Online gambling group, Unibet has released its third quarter results together with a summary of Year-to-date operations as follows:
Third Quarter 2010
- Gross Winnings Revenue amounted to GBP 31.0 million (Q3/2009: GBP 30.1 million).
- Profit from operations GBP 5.6 million (Q3/2009: GBP 8.9 million). Was negatively impacted by foreign exchange loss on operating items of GBP 1.5 million (positive impact of GBP 4.4 million).
- Profit before tax GBP 4.3 million (Q3/2009: GBP 3.5 million). In addition to the exchange loss on operating items referred to above, profit before tax for the third quarter of 2010 was negatively impacted by unrealised exchange losses on the loan of GBP 1.0 million (unrealised exchange loss of GBP 4.0 million on the bond).
- Profit after tax amounted to GBP 3.7 million (Q3/2009: 3.0 million).
- Operating cash flow before movements in working capital amounted to GBP 8.6 million (Q3/2009: 11.2 million).
- Number of active customers at the end of the quarter was 320,573 (Q3/2009: 329,721).
YTD - January to September 2010:
- Gross Winnings Revenue amounted to GBP 112.0 million (2009: GBP 96.3 million).
- Profit from operations amounted to GBP 24.6 million (2009: GBP 21.7 million).
- Profit before tax amounted to GBP 24.6 million (2009: GBP 20.1 million).
- Profit after tax for the period amounted to GBP 22.4 million (2009: GBP 18.3 million).
- Operating cash flow before movements in working capital amounted to GBP 32.5 million (2009: GBP 29.3 million).
Herick Tjärnström, CEO of Unibet, comments:
“A strong quarter for sports betting. With many favourites losing, Unibet’s gross margin has been very favourable during the quarter. This has contributed to a strong overall result in what is usually a seasonally weak quarter.
“Our operating cash flow has shown a steady increase which has strengthened our balance sheet and since the end of the quarter we have repaid EUR 8 million of the bank facility ahead of schedule.
“For October 2010 the gross margin has been more normalised than 2009 but the casino activity is almost back at the revenue level from last year when we were active in the French market.
“We still remain cautious, however, about the outlook for the rest of 2010, as communicated in our first quarter report.
“Further to our comments on previous quarters, we have now formally established a new B2B business area called Kambi Sports Solutions, which provides sportsbook services both to Unibet and to third party customers”.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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