International edition
September 29, 2020

Net gaming revenue in the 3 months to end January jumped from us$ 68.3 to us$ 81.8 million

Sportingbet third quarter results started well

(UK).- Online gaming group Sportingbet swung back into profit in the first six months despite results going against it. "With six months of the year completed we have achieved an operating profit of us$ 23.2 million versus us$ 7.9 million last year,” CEO Andrew McIver said.

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portingbet 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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