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Unibet reports successful first quarter, Igaming Business

Unibet reports successful first quarter, Igaming Business | Poker & eGaming News | Scoop.it

Malta-based online gambling operator Unibet Group has released its interim financial results for the first quarter of 2012 and revealed that gross winnings revenues for the three-month period increased by 36 percent year-on-year to £51.1 million.

 

Unibet completed the acquisition of rival Nordic Betting Limited earlier this month for £11.25 million while February saw it spend £13.6 million in order to purchase Australian independent online corporate bookmaker Betchoice Corporation Party Limited. It also shelled out £4.8 million in November to take control of French operator Solfive SAS, which is the firm behind the EurosportBet and EurosportPoker brands, and revealed that these expansions resulted in first quarter betting duty of three million pounds alongside merger and acquisition expenses of £800,000 in addition to amortisation of another £800,000.

 

However, earnings before interest, tax, depreciation and amortisation for the first quarter rose 16.7 percent year-on-year to £15.3 while profits from operations improved by 3.5 percent when compared with the same period in 2011 to £11.6 million.

 

Unibet reported a profit before tax for the first quarter of £11.7 million, which was an improvement of some 8.3 percent year-on-year, with this figure after duties swelling by eight percent when compared to the first three months of 2011 to £10.8 million.

 

Other sources:

http://pokerupdate.com/news/unibet-revenues-skyrocket/

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Unibet completes Bet24 acquisition, Robin Harrison EGR Magazine

Unibet completes Bet24 acquisition, Robin Harrison EGR Magazine | Poker & eGaming News | Scoop.it

Unibet has completed the acquisition of rival Scandinavian operator Bet24 from Modern Times Group as it looks to challenge former monopoly Danske Spil’s market leading position.

 

Following the announcement of the deal last month, Unibet has now paid 80% of the €13.5m (£11.25m) acquisition price in cash, with the final 20% to be paid by the end of June. Bet24’s players will ultimately be migrated to Unibet’s platform and the site rebranded, but will remain on its current platform for an interim period.

 

Bet24 becomes the third operator to be acquired by Unibet in the past six months,  acquired EurosportBET owner Solfive in November last year, and Australian operator Betchoice for AU$20m in February.

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