Profits down for Unibet in FY 2015 report

By David Cook
Record fourth quarter gross-winnings revenue could not prevent a 40% decline in profit after tax for Unibet in its full year 2015 results.

The operator’s profit after tax was £55.7m, while profit before tax was down 37% to £62.2m.

Gross-winnings revenue for the full year was £354.1m, up 13% and was £111.4m, up 43%, for the fourth quarter alone.

Unibet completed its acquisitions of operator iGame Group for €59m and the online arm of operator Stan James for £19m in September.

Stan James Online and iGame Group contributed £13m in gross winnings revenue for the fourth quarter.

Unibet CEO Henrik Tjärnström said: “The acquisitions have accelerated the transformation of our business and locally-regulated revenues are now 34.3% of gross-winnings revenue compared with 28.4% in the third quarter of 2015. [The] UK, the world’s largest locally-regulated gambling market, is now our largest locally-regulated market.”

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