BUSINESS

Unibet releases mixed figures

TAGs: revenues, Unibet

unibet-mixed-figuresIt’s been quite the past 12 months or so for the Scandinavian based gambling site Unibet. After rebuking any attempts by Sportingbet to get into bed alongside them and being called a parasite by the French courts after being cheeky enough to have the same colour scheme as PMU, today saw release of their results for the past quarter.

It was mostly good news for the Swedes as they announced that there had been growth of 15% for Q4, compared with the previous quarter. Although, revenue for the quarter was down 15.7% on the same period a year previous, they gained £4.5m on Q3.

In addition, fourth quarter profit was up, and for the year as a whole, the figure was around 17% more than the pre-tax profits of a year ago.

“We are very happy to announce a strong set of results including 15 per cent growth over the prior quarter, which demonstrates the underlying resilience of our business model,” said Henrik Tjärnström, CEO of Unibet.

A strong start to 2011 has already seen them further extend their deal with Jadestone and a return to the country they left, France, could be seen in the near future after they re-acquired a license to operate.

He continued: “Even though the comparisons with the fourth quarter of 2009 were challenging, we have been able to improve our EPS through tight control over our operating costs, including improved marketing focus. We also continue to invest according to plan in the development of Kambi Sports Solutions and in the core Unibet platforms to address the evolving markets in Europe.”

Having also just signed an agreement with Ongame to enter the Italian market, it will be interesting to see what the year holds for Unibet.

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