Sportsbetting Success for Unibet
Malta-based online gambling operator Unibet Group has announced its unaudited financial results for the first three months of 2009 showing an 87 percent increase in profits after tax year-on-year to £9.96 million.
The figure was a 14 percent rise on the firm’s results for full-year 2008 and was helped by 25 percent growth year-on-year in income from sportsbetting activities.
Unibet revealed that its income from sportsbetting from the first three months of 2009 hit £15.97 million, which was up from last year’s £11.88 million, while its gross winnings revenue amounted to £36.1 million, a 13 percent rise on 2009’s £31.3 million.
Profits before tax for the first quarter of 2009 amounted to £10.7 million, which was up from £2.9 million in 2008, while those from operations for the first quarter grew by £600,000 year-on-year to £10.9 million.
Unibet also had 26,816 more active customers than a year ago to bring its total to 314,977 while it reported that it had operating cash flow before any movements in working capital of £13.5 million, a rise of £300,000 from twelve months ago.
“Our strong business model and the well-balanced product portfolio have resulted in another strong quarter in terms of gross winnings and operating cash flow,” said Petter Nylander, Chief Executive Officer for Unibet.
“During the quarter, the number of active customers increased by almost eight percent and we have continued our successful geographic expansion. The experience and structure capital that we have gained in our own sportsbook gives us a competitive advantage in many areas and are fundamental in the strength of our brand and our customers’ user experience.”
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Fun88 Launches Entertasia Casino Software
Asian virtual entertainment brand Fun88 has announced the launch of a new live gaming online casino service at Fun88.com powered by software from gaming platform provider Entertasia Technology Company Limited
Fun88.com now features a live gaming casino offering in addition to its competitive sportsbetting service, which Fun88 predicts will be enthusiastically pursued by Asian players.
‘Fun88.com brings the broadest variety of entertainment elements to its Asian players and now, having launched an Entertasia live dealer casino, we have completed one of the most important factors in our strategy of succeeding in Asia,’ said Nick Lee, Chief Executive Officer for Fun88.
Fun88 also has its own in-house modelling agency in addition to an exclusive radio channel delivering breaking sports news. This is all on top of its huge gambling information database to feed players with informative content.
‘Despite the global recession, Entertasia is one of the companies that can keep expanding business and continue its growth trend month-on-month thanks to valuable clients like Fun88,’ said Jason Chan, Chief Executive Officer for Entertasia.
‘We continue to look to the future, full of confidence that Entertasia will contribute to our customers’ success.’
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South African Partner for Dragonfish
Gibraltar-based online gaming operator 888 Holdings has announced that its Dragonfish independent business-to-business division has signed a strategic agreement with South African firm Phumelela Gold Enterprises (PGE).
PGE is a leading parimutuel horseracing and tote betting organisation and Dragonfish is to provide it with a comprehensive sportsbook offering followed by the introduction of casino, poker, bingo and quick play games once a more developed regulatory regime is in place in South Africa.
Dragonfish will also globally distribute horseracing pools and live race streaming through its licensees and via 888.com from tens of tracks for which PGE owns exclusive distribution rights.
“As a recognised world leader in harnessing the latest technology to globalise horseracing, we are very happy to sign with a partner that can provide us with market-leading technology to expand our offering worldwide,” said Rian Du Plessis, Chief Executive Officer for Phumelela Gaming And Leisure Limited.
“Working with Dragonfish going forward will help us to diversify our online offering and build on our current success.”
In addition, Dragonfish will provide PGE with its e-payments service and back-end software allowing for its swift integration into 888’s shared wallet, cashier and customer support systems.
“Horseracing is the largest sector in worldwide sportsbetting and we are delighted to work with a global leader in this area,” said Gabi Campos, Managing Director for Dragonfish.
“Phumelela has a huge user-base in South Africa and this deal will ensure that it has the best tools available with which to provide its customers with a cutting-edge online gaming offering.”
