Q3 pre-tax profits fall 22 percent
The European-facing Internet gambling group Unibet.com is the latest gambling company to feel the chill of big player wins on football results, announcing this week that its third quarter pre-tax profits sank 22 percent to GBP3.5 million (Q3 2008: GBP 4.5 million).
The downward trend is especially disappointing coming on the heels of half year 2009 numbers that showed pre-tax profit well up at GBP
16.6 million (Half Year 2008: GBP 6.9 million).
In-play betting proved to be a major contributor for the group, CEO Petter Nylander revealed, describing in-play betting as the driving force behind Unibet's record sportsbook turnover and 3 percent year-on-year rise in third quarterly gross winnings revenue to GBP 30.1 million (Q3 2008: GBP 29.3 million).
Active customer numbers grew 25 percent over Q3 to 330 000 as the group's marketing initiatives bore fruit.
“During October, the gross winnings margin has been higher than the long-term average, highlighting the short-term volatility of sports betting margins and that it is important to look at margins over at least one-year periods,” said Nylander.
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