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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.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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