Unibet Revenue Soars 36% To £51.12 Million In Q1 2012

Unibet Group PLC has released its first quarter financial results for 2012, revealing a 36% rise in revenue to £51.12 million ($82.6m), compared to £37.50 million in the same period a year ago. The gross winnings revenue figure was also an all-time high for the company, mostly thanks to the online gambling business’s sportsbook called Kambi Sports Solutions.
In addition, the Nordic company’s profits after tax reached a healthy £10.8, up from £10.02 million in Q1 2011, and commenting on the all round impressive results, Unibet chief executive Henrik Tjarnstrom said:
“Unibet is at the same time undergoing a rapid transformation as more than 15 per cent of the gross winnings revenue in the quarter came from re-regulated markets. This development will continue through the year as Australia and Bet24 are fully included and as our recent licence in Belgium is activated.”
Also on the rise was Unibet’s poker offering which accounts for around 8% of
the business’ gross winning revenue. In Q1, Unibet Poker recorded a 7% increase in its revenue to £4.27 million from £3.98 million in the same period a year earlier.
“Even with the poker industry finding it more difficult to monetise its players effectively and hit a decent bottom line, Unibet Poker is achieving relatively good results and is very confident that the casual player strategy will succeed by putting Unibet in a very strong position for the future,” read a company statement.
Following the Q1 announcement, Unibet Group PLC shares are currently trading at 194p, which is near its 52 week high of 195.5 and way above its 52 week low of 115p.
The group was formed in 1997 and has since become one of the biggest online gambling operators, with over 6 million customers across 100 different countries. It is also currently the sponsor two Danish Superliga soccer sides, F.C. København and FC Midtjylland.