Unibet enjoy big profits boost

ne operators Unibet have seen their profits more than double for Q3 2013.

Profits before tax for the three months ended 30 September were £9.2m, up 130% on the same period in the previous year, while profits after tax rose 141% year-on-year to £8.2m.

Gross winnings revenue improved 28% to £56.1m, a figure which included sports betting gross winnings revenue at £24m (up 37%) and casino, poker and other games at £32.1m (up 22%). EBITDA increased 64% to £14.1m.

For the period January to September 2013, profit before tax rose 26% to £27.9m, with profit after tax increasing 28% to £25.4m.

Gross winnings revenue was up 21% to £169.5m, while EBIDTA improved 21% to £43.2m.

Unibet CEO Henrik Tjärnström said: “Growth in gross winnings revenue in the third quarter was achieved despite the excellent summer weather in many of our key markets and high numbers of favourites winning. The growth was wholly organic and demonstrates continued increases in market share.

“It is also satisfying to report that underlying EBITDA for the third quarter increased in line with the growth in revenues, demonstrating improved scalability despite the significant investments Unibet has made in information mining, local regulation and in Kambi.”