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.


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