Unibet third quarter pre-tax profits fall 22%

The European-facing Internet gambling group Unibet is the latest gambling company to feel the chill of big player wins on football results, announcing this week that its third quarter pre-tax profits sank 22% to £3.5 million (Q3,2008: £4.5 million).

The downward trend is especially disappointing coming on the heels of half year 2009 numbers that showed pre-tax profit well up at £16.6 million (Half Year 2008: £6.9 million).

In-play betting proved to be a major contributor for the group, CEO Petter Nylander revealed, describing in-play betting as the driving force behind Unibet's record sportsbook turnover and 3% year-on-year rise in third quarterly gross winnings revenue to £30.1 million (Q3,2008: £29.3 million).

Active customer numbers grew 25% over Q3 to 330,000 as the group's marketing initiatives bore fruit.

"During October, the gross winnings margin has been higher than the long-term average, highlighting the short-term volatility of sports betting margins and that it is important to look at margins over at least one-year periods," said Nylander.

Source: InfoPowa News

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