Sunday, October 30, 2011 : ONLINE SPORTS BETTING BOOSTS JAXX
Good performance in a traditionally quieter period
German gaming company JAXX SE announced one of its best sets of trading results to date during its third quarter, boosted by a 50 percent growth in its online sportsbetting business.
Key performance indicators for Q3/2011 include:
– JAXX Group EBIT totalled Euro 1.0 million (Q3/2010: Euro -1.5 million)
– Revenue from continuing operations improved by around 23 percent to Euro 13.3 million (Q3/2010: Euro 10.8 million).
– Online sports betting business reflected a year-on-year growth of approximately 50 percent.
Stefan Hänel, Finance Director of JAXX SE, commented: "In general the third quarter is one of the betting industry's weakest periods due to football's close season. That makes it all the more pleasing that we have managed to turn results around despite the difficult conditions. We are now looking to the fourth quarter with confidence and aiming for a further improvement in profitability."