Unibet Revenues Up 65% in Q3 2016

Online gambling firm Unibet has released its financial results for the third quarter of 2016, revealing a sharp 65% increase in revenues to £142.3 million ($176m) compared to the £86.1 million generated in the same period last year. In addition, the company reported post tax profits of £21 million, with a Unibet statement attributing the impressive results to a “strong performance across all brands”.
From July to September 2016, Unibet’s sports betting vertical accounted for £66.7 million ($82.8m) of revenues, and casino games a further £68.5 million ($85m). Even poker saw its revenues more than double to £3.2 million ($4m), at a time when many of its competitors have seen their poker operations contract.
Part of Unibet’s solid poker performance can be attributed to its decision to leave the Microgaming Poker Network and form its own network together with Relax Gaming. The company has since introduced numerous innovations to make it more popular with recreational players, including stopping the use of software which provides an advantage to professional grinders, such as HUDs (Heads-Up Displays) and tracking programs.
In its quarterly report through to September 30, also Unibet reported a total of 1,067,910 active customers across its site, an impressive 59% improvement on the 671,635 active users recorded on the site for Q3 2015. Finally, the company’s EBITDA for Q3 was £33.9m, up 73% from the same period last year, and commenting on the result, Unibet Group CEO Henrik Tjärnström stated:
“It is of course particularly satisfying that the excellent top line growth converted into a new all-time high in EBITDA, demonstrating again the scalability of the group’s business model which is structured to meet the future challenges of further regulation.”
Shares in the Unibet Group are currently trading at 80.85 Swedish Krona (SEK), down by 1.17% on the day. They are also near their 52 week low, with stock prices haven risen as high as 868.00 over the past year.

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this
Maryland Casino Revenue Up 6% to $143m in April
11 May 2018
Maryland’s six casinos generated gross gaming revenue (GGR) of $143.5 million in April, marking a 5.7% increase compared to the $135.7 million collected in the same month a year ago. As a result, the Free State has now returned four consecutive months of gains this year, providing much needed assistance to the Education Trust Fund,