Nordic gambling operator Unibet posted double-digit increases in revenue, earnings and profit in Q4 2013, leading to what the company called “all-time highs in revenue and profitability.” Revenue rose 15% to £65.2m, earnings rose 20% to £20.2m and profit increased 25% to £15.5m, not too shabby considering a lucky Swedish punter ruined Unibet’s Christmas by winning €4.1m on December 19 while playing the Arabian Nights slot game, marking the company’s third-highest single payout to date.
For the year as a whole, Unibet’s revenue, earning and profits were up 19%, 21% and 26% respectively. The good times have continued into 2014, with the company reporting business in the period to Feb. 9 up 13% over the corresponding period last year.
The Nordics region continues to supply the bulk (54%) of Unibet’s FY revenue, followed by Western Europe (33%), Central, Eastern and Southern Europe (9%) and ‘Other’ with 4%, numbers virtually identical to FY 2012. However, Nordics’ 10% growth in Q4 was outstripped by Western Europe’s 32% and Central, Eastern and Southern Europe’s 14%, while ‘Other’ fell 32%. The numbers reflect Unibet’s move to focus more on regulated markets, which saw the “re-regulated” portion of its Q4 revenue rise to 29%.
Sports betting was up 9% in Q4 to £27.9m on a 12.4% margin. Live ‘in-play’ wagering accounted for 62.8% of Q4 turnover, up from 54.9% in Q4 2012. Unibet saw sports betting revenues increase in its Nordics (+12%), Western Europe (35%) and Central, Eastern & Southern Europe (5%) categories, but its ‘Other’ region – which includes the highly competitive Australian market – saw the sports betting vertical tumble 75% to just £783k. Western Europe’s sports betting bonanza allowed it to eclipse the Nordics region in this category for the first time in Unibet’s history.
Casino and games revenue rose 20% in Q4 to £31.5m, while poker dipped 15% to £2.7m (down 18% for the full year). In December, Unibet made the decision to ditch Microgaming’s MPN poker network in favor of a standalone product. A relaunch for the poker vertical is scheduled for Q1 and a mobile app is reportedly in the works, so hope springs eternal for a turnaround in poker’s fortunes.
