Unibet Has a Record Gross Winning Revenue in Third Quarter

Unibet claims has recorded gross winning revenue in the three months through to September 30.

Gross winnings during the third quarter ha amounted to £86.1 million (€121.4 million/$132.8 million), this is up from £80.4 million in last year’s the corresponding period.

However, the earnings before tax, interest, depreciation and amortisation (EBITDA) has came in at £17.4 million, this is down from the £21.7 million that was posted in the same period the previous year, and 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 this period increased from £23 million up to £32.1 million, while the bank debt amounted to £56.9 million.

The third quarter results means 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 has 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 period, and 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, and thus, driving even more all-time high in their gross winnings revenue, said Mr. Tjärnström.

EBITDA, for the third quarter, showed slightly below the result over the same during 2014, this is aresult of lower sports betting margins as well as the impact of exchange rates 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 years 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.