Unibet Has a Record Gross Winning Revenue in Third Quarter

Unibet has claimed to have recorded gross winning revenue in the three months through to September 30. Gross winnings during the third quarter have amounted to £86.1 million (€121.4 million/$132.8 million). This is up from £80.4 million in last year’s corresponding period. However, the earnings before tax, interest, depreciation and amortisation (EBITDA) has come in at £17.4 million. This is down from the £21.7 million that was posted in the same period the previous year. Profit before and after tax has shown it was down to £14.4 million and £12.9 million, respectively.

The net cash at the end of this period increased from £23 million up to £32.1 million, while the bank debt amounted to £56.9 million. The third quarter results mean that the gross winnings for the year up to the end of September were £242.7 million. This is up from £234 million at the same period last year. EBITDA is down from £96.8 million to £50.8 million, and the profits before and after tax have fallen to £40.9 million and £36.3 million, respectively.

Henrik Tjärnström, the chief executive of Unibet, said that despite this drop in profit and EBITDA, the operator has recorded a very strong organic growth over the period. It is expected to be boosted even further during the final period of the year after their acquisition of Stan James Online.

Unibet Group continued delivering a very strong organic growth during the third quarter, thus driving even more all-time highs in their gross winnings revenue, said Mr. Tjärnström. EBITDA for the third quarter showed slightly below the result over the same period during 2014. This is a result of lower sports betting margins as well as the impact of exchange rate changes of approximately 13%. During the period leading up to November 1st, the daily average gross winnings revenue in the constant currency was over 30% higher than the previous year’s period in 2014, despite the lower sports betting margins recorded in October. Stan James says that this reflects continued strong activity levels and a good start for iGame.