Unibet records 15% quarter-on-quarter growth
Unibet has recorded 15% growth over the previous quarter, the Swedish operator announced this morning.
Unibet has recorded 15% growth over the previous quarter, the Swedish operator announced this morning in its preliminary figures for Q4 and for the year ended December 2010.
Its fourth quarter revenue was down 15.7% compared to the same period in 2009 (from £42.1m to £35.5m) but up £4.5m on Q3 last year, while its annual revenue was up £147.5m compared to £138.3m for 2009.
Profit both for the quarter and the year were also up, with the yearly figure climbing by almost 17% compared to 2009’s pre-tax profits of £28.9m. “During the first six weeks of 2011 we see healthy revenue numbers for the group across our major markets,” CEO Henrik Tjärnström said.
The fourth quarter saw Unibet’s bingo sites move over to Playtech’s Virtue Fusion software, while the operator’s Italian poker site was relaunched on the Ongame network in December.
However, talks over a merger with Sportingbet collapsed late in the year after a leak to the media scuppered negotiations at an early stage.
The start of 2011 has seen Unibet look to bolster its Nordic presence, extending its contract with Jadestone, and the following months could see the company re-enter the French market after obtaining its licence in October.
Unibet also hopes to extend the reach of its B2B sportsbook Kambi, which is already supplying products to NordicBet, Expekt and Paf.
Tjärnström said: “We will continue to focus on our core markets to strengthen our position in the changing European landscape. Unibet will apply for licenses in the markets where conditions are evaluated as sound and profitable and with a low risk seen from a shareholder value perspective.
“We are very happy to announce a strong set of results including 15% growth over the prior quarter, which demonstrates the underlying resilience of our business model,” he added.
“Even though the comparisons with the fourth quarter of 2009 were challenging, we have been able to improve our earnings per share 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.”
More to follow…