Sportingbet third quarter results started well
Sportingbet CEO added: “This has not been achieved by especially favourable outcomes to sports events - the margin percentage is actually slightly lower than last year - but rather from strong growth in turnover from our core sports offering and careful cost control."
Net gaming revenue in the three months to end January jumped from us$ 68.3 million to us$ 81.8 million, making a total for the interim period of us$ 142.1 million, up from us$ 132.8 million. Pre-tax profits for the second quarter were us$ 7.1 million, versus us$ 0.19 million, to give a total interim profit of us$ 4.3 million compared with a loss of us$ 22.6 million.
In the second quarter, sports betting levels rose 29.6% year on year, casino was up 29.1% year on year and poker by 34.1% quarter on quarter, delivered through both incremental betting volumes (amounts wagered on sports in Europe up 35.3% year on year) and yields per player.
The third quarter has started well, McIver said, though the fourth quarter will dominated by the Euro 2008 football tournament, he added.
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