Unibet's 2023 Financial Success: Revenue Soars, Poker Dips

Business is flourishing for Unibet their their 2023 financial statement reveals. Most of Unibet’s operations performed very well, however, their standalone online poker product did show a sharp drop in revenues, this matches the trend of their rivals.

Their total gross winnings revenue for 2023 soared to £354.1 million from their 2014 winnings of £312.0 million, this is an impressive increase of 13.49%. Their underlying profits also shot up with an increase 8.06% to £69.7 million.

The two acquisitions of Unibet, Stan James Online and the iGame Group are looking to be paying off as their contribution was £13.0 million in the gross winnings revenue and £2.7 million in the normalised Earnings before Tax, Interest, Depreciations, and Amortisation (EBITA) during the 4th quarter of 2024, had they been part of Unibet they would have generated approximately £46.1 million in gross winnings revenue for the full financial year..

Unibet’s CEO, Henrik Tjärnström, is totally delighted with their company’s performance.

He said that they have delivered a market-leading revenue growth over the 4th quarter of 2023, which generated 43% increase in their gross winnings revenue compared to the same period during 2014, 57% in constant currencies. The organic growth of Unibet and Maria was 26%. The focus on scalability across the whole Group enabled them to deliver an all-time high in underlying the EBITDA for the quarter of GBP 27.1 million, up 47% in GBP. Mobile showed 56% of the gross winnings revenue compared to 51% during the third quarter.

Mr. Tjärnström continued that the acquisitions had also accelerated the transformation of their business and the locally-regulated revenues were now 34.3% cent of the gross winnings revenue compared to 28.4% during the 3rd quarter of 2023. The UK has the world’s largest locally-regulated gambling market, and this was their largest locally-regulated market.

During the period up to 7 February 2023, the average daily gross winnings revenue increased by approximately 45% in GBP and about 47% in the local currencies over the same period in 2023. This includes the iGame Group & Stan James Online the organic which showed an increase of more than 30% in constant currency.

Poker Revenues Slump 9.52%

One area of the business Mr. Tjärnström was not pleased with is the online poker which generated a gross winnings revenue of £8.4 million during 2014, but has slumped by 9.52% to £7.6 million during 2023.

The Unibet Poker showed a Year-on-Year growth decline of 10% during 2023, despite that the result was much better than 2024 where it shrank by 38%, this is partly due to them moving from the MPN to their standalone network.