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NEWS 27 April 2016

Unibet breaks revenue record again

By David Cook
Unibet has reported record first quarter gross winnings revenue of £122.4m, up 61% year-on-year.

The operator’s EBITDA went up 80% to £27.6m, while profit before tax saw an upturn of 99% to £22.5m and profit after tax doubled exactly to £20m.

Bank debt of £26.3m was reported.

It is the second consecutive quarter where record gross winnings revenue has been reported, though the overall 2015 figures were dented by a 40% decrease in profit after tax for 2015 to £55.7m.

Quarter-on-quarter, gross winnings revenue is up from £111.4m and profit after tax is up from £19.4m.

Unibet acquired operator iGame Group for €59m in September and completed the deal to purchase the online gambling arm of bookmaker Stan James for £19m in September.

Henrik Tjarnstrӧm, Unibet CEO, 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.

“In the period up to 7 February 2016, average daily gross winnings revenue has increased by approximately 45% in GBP and approximately 47% in local currencies over the same period in 2015. Excluding iGame Group and Stan James Online the organic increase is more than 30% in constant currency.”
RELATED TAGS: Online | Financial
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