Unibet has World Cup to thank for increase in earnings

However, quarterly earnings and profit rocketed for the operator.Earnings before interest, tax, depreciation and amortisation (EBITDA) increased from £12 million to £53.7 million, with profit before tax up from £6.7 million to £48.1 million.

For the first half of the year, gross winnings revenue for sports betting increased from £49 million to £64.8 million, with profit after tax up from £17.2 million to £63.4 million.

“The quarter was characterised by the 2014 World Cup which provided a significant new all time high in customer activity and continued strong organic growth,” Unibet chief executive officer Henrik Tjärnström said. “Gross winnings revenue increased 33% in local currencies which means that we are continuing to gain market shares. Of the gross winnings revenue, 29% was from locally regulated markets.

“Our continued focus on efficiency meant that, despite significantly increased marketing investments, underlying EBITDA for the second quarter increased by 38% and earnings per share by 47%.”He added: “The mobile channel accounted for 32% of the total gross winnings revenue and 47% of gross winnings revenue in the sportsbook.

“Strong growth in mobile casino contributed to a new all-time high in casino revenues and helped to strengthen Unibet’s existing leadership position in Western European markets with 58% organic growth.”

The quarterly figures included Kambi’s results until May 31 and a non-recurring net gain of £35.3 million following the sale of the business-to-business subsidiary in May.