Online gaming operator Unibet has cited the success of its Kambi sports betting subsidiary and the continued growth of its mobile channel as the main reasons behind a year-on-year jump in revenue during the three months to March 31, 2014.The company reported revenue of £67.6 million (€81.9 million/$113.6 million) during the first quarter of 2014, an increase of 14% on the £59.3 million achieved in the corresponding period last year.
Earnings before interest, tax, depreciation and amortisation also jumped from £17.1 million in Q1 of 2013 to £21.3 million in the most recent quarter.
Unibet was also able to record an increase in profit after tax, which grew from £10.6 million last year to £15.3 million in the first quarter of 2014.
The number of registered Unibet customers also jumped from 7.3 million in Q1 of 2013 to 8.9 million this year, with active customers also up from 489,923 last year to 552,338 in the latest quarter.
Unibet said its mobile channel continued to develop strongly in the quarter and now represents 31% of total gross winnings revenue.
In addition, the operator also referred to the success of its Kambi sports betting subsidiary, with the business experiencing an all-time high for both revenue and EBITDA during the quarter.
As reported by iGaming Business, Unibet recently proposed to distribute its 95% stake in Kambi and the subsidiary’s performance in Q1 is likely to bring in further support for the plans.
Henrik Tjärnström, chief executive officer of Unibet, said: “The mobile channel continued to develop strongly in the quarter and represented 31% of total gross winnings revenue.”
“Kambi’s growth and increasing profitability confirm that now is the right time to maximise the value of the investments that Unibet has made through the proposed distribution of Kambi to shareholders.”
source : www.igamingbusiness.com
