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Unibet second quarter profits double
Online sportsbetting company Unibet plc has enjoyed a bumper second quarter thanks to in-game betting and the Euro 2008 football action, the management disclosed this week, highlighting doubled profits. In-game (live) betting accounted for 23 percent of Q.2 gross win revenue for the firm's sportsbook.
Net income rose to GBP 3.55 million, up from GBP 1.61 million in the same period last year, as winnings from sports bets jumped by almost nine-tenths and sales set new records during the month-long soccer championship, whilst additional revenues flowed from the Maria Bingo website, purchased last December (see previous InfoPowa reports).
"With the European championship as a highlight, we reached a new record in active customers,'' CEO Petter Nylander noted.
However, looking at the half year to date picture, currency exchange costs on the Euro 100 million bond arranging by Unibet to buy Maria Bingo proved to have an expensive impact on results, costing the firm almost half its pre-tax profits. Unibet’s pre-tax profits for the first half of the year amounted to GBP 6.9 million (GBP 10.5 million in H1 2007). That figure would have risen to GBP12.7 million without the currency exchange loss of GBP 5.8 million the company had to take on the bond during the period.
The company’s gross win revenue rose to GBP 59.2 million during the period (GBP 37.6 million last time), and quarterly sports margins excluding in-running betting and bonuses rose to 7 percent from 5.4 percent over the same period last year.
Q2 gross win came to GBP 9.6 million, compared with GBP 5 million last year, and over the half year reached GBP 21.4 million (H1 2007: GBP 14.7 million).
On the non-sports betting front gross winnings reached GBP 19.5 million (Q2 2007: GBP12.2 million) and GBP 40.3 million for the half year (H1 2007: GBP 25 million). Online poker and casino operations made up 31 percent and 53 percent respectively of non-sports betting winnings during the second quarter.
Unibet's customer base jumped almost 10 percent over Q1 2008, making a total of 316 780 registered players on the company's books.
The company took the opportunity to announce an agreement to buy online sports-media company Guildhall Media Invest Ltd. for Euros 150 000 in cash, assuming Euro 4.2 million in debts as part of the deal.
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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