Unibet Profits Cut in Half as Business Slows for 3rd Quarter of 2012
Unibet gross Winnings Revenue amounted to GBP 43.8 (37.8) million for the third quarter of 2012 and GBP 140.3 (109.7) million for the period January to September 2012.
Profit from operations for the third quarter 2012 amounted to GBP 4.5 (8.2) million and GBP 22.6 (26.6) million for the period January to September 2012. Excluding a one off tax payment of GBP 2.6 million, profit from operations for the third quarter 2012 would have been GBP 7.1 million.
Profit before tax for the third quarter of 2012 amounted to GBP 4.0 (8.2) million and GBP 22.1 (26.2) million for the period January to September 2012.
"Gross winnings revenues in the third quarter were impacted both by the late start of European football seasons and by the effect of translating results from European currencies into the stronger GBP compared to the third quarter 2011. Sports margins were lower than average in September, but the overall margin for the third quarter was within the normal range,” says Henrik Tjärnström, CEO of Unibet.
"Daily gross winnings revenues in the first four weeks of October have been up 29 per cent compared to the third quarter. Compared to the same period in October 2011, underlying gross winnings revenues in local currency are more than 20 per cent higher as a result of volume growth, as sportsbook margins are very similar to last year.”
- Aaron Goldstein, Gambling911.com
