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Betbull reports losses to September 30

Among the many companies currently reporting on commercial performance over the first nine months of 2010 is Betbull Holding SE, which this week published its results for the period to September 30.

Highlights include:

  • Betting stakes of €58.9 million for the nine months down 7% compared to €63.1 million in the same period last year.
  • Gross hold €13,17 million (YTD/2009: €10,58 million).
  • Net gaming revenue of €11.7 million for the nine months up 28.6% compared to €9.1 million in the same period last year.
  • Total income €11,86 million (YTD/2009: €9,26 million).
  • Gross profit €9,5 million (YTD/2009: €7,39 million).
  • EBITDA (including the Spanish operations) was €1.6 million compared to negative €2.0 million in the same period last year.
  • EBITDA (excluding the Spanish operations) of €1.2 million for the nine months and cash position as at 30 September 2010 also excluding the Spanish operations of €5.5 million.
  • Loss after tax (€1,938,725) YTD/2009: (€3,029,630).
  • Current liabilities €4,729,859 (YTD/2009: €4,756,266).
  • Cash (position including Spanish operations) as at 30 September 2010 of €5.7 million compared to €4.9 million as at 30 September 2009.

Management confirmed that Betbull has sold 100% of Winners Apuestas SA, its Spanish subsidiary, to Bwin Interactive Entertainment AG, and revealed that the company will now concentrate on its core business in Germany.

Source: InfoPowa News

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