Swedish online gaming operator Unibet generated gross winnings of £16 million (€20.2 million/$27.5 million) during football’s 2014 Fifa World Cup in June and July.
In announcing interim results for the three months through to the end of June, Unibet said that almost half of its total sales of £112 million during the World Cup came from live betting (£51 million).
For the second quarter of 2014, live betting accounted for 64.6% of sports betting sales for Unibet, down year-on-year from 67.5%, and 43.2% of gross winnings, down from 51.6%.
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.
source : www.igamingbusiness.com
