Unibet reports record fourth quarter

 

Malta-based online gambling operator Unibet Group has released its financial results for the fourth quarter of 2012 showing a 27.2 percent year-on-year increase in total revenues to £56.9 million.

 

Unibet announced that earnings before interest, tax and depreciation and amortisation for the fourth quarter rose by 12.7 percent year-on-year to £16.8 million while its operating profit improved by 4.1 percent when compared to the same period in 2011 to £12.6 million.

 

The firm revealed that active customer numbers at the end of the fourth quarter had swelled by 22.7 percent year-on-year to 491,958 to give it a profit after tax of £11.8 million, which was 4.4 percent better off than last year’s £11.3 million.

 

For the full year, Unibet declared that total revenues amounted to £197.2 million, which was a 27.7 percent boost when compared with the previous twelve months, while earnings before interest, tax, depreciation and amortisation enlarged by 9.3 percent year-on-year to £52.5 million.

 

Unibet said that its profit after tax for 2012 amounted to £31.6 million, which was almost an eleven percent decrease on 2011, although its working capital had improved by some £2.6 million year-on-year to £51.1 million.

 

“It is very satisfying to report that Unibet achieved all-time highs for gross winnings revenues and earnings before interest, tax, depreciation and amortisation in the fourth quarter of 2012,” said Henrik Tjarnstrom, Chief Executive Officer for Unibet.

 

“The increase in betting duties is in line with our strategy to focus on re-regulated markets and it is especially encouraging that we have achieved these all-time highs despite absorbing betting duties of £3.6 million for the quarter.

 

“Our investments in marketing and product development have resulted in an all-time high in active customers for the fourth quarter. This has also contributed to the continuing growth we have seen in the first six weeks of 2013 with daily average gross winnings revenues showing organic growth over 20 percent compared to the same period in 2012.

 

“An important part of Unibet’s strategic investment continues to be focused on Kambi Sports Solutions, which is also developing good momentum as we start 2013. All the new clients signed in 2012 are now live with Kambi. Since the full operational separation of Kambi was completed in 2012, it is clear that Kambi is seen as a credible and attractive partner for major operators.

 

“The gaming market is increasingly divided into those who embrace the opportunities and challenges provided by re-regulation and those who don’t. Strong growth in Denmark, Belgium and Italy show that the opportunity provided by re-regulation in Unibet’s core markets helps to offset the short-term impact of higher betting duties and compliance costs. Unibet takes a lead in working with regulators and other official bodies to develop sustainable local regulations that provide a fair market while ensuring social policy goals are achieved.”

 

igamingbusiness.com

 

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