Unibet Records Record Growth Across All Verticals | PokerNews
Unibet Group plc, the owners of many online gaming brands including Unibet, Stan James, and iGame, reported record growth to its investors in its Unaudited Interim January - March Report.
Gross winnings revenue reached a record high for the gang to £122.4 million within the first quarter of 2016 representing an enormous growth of 61 percent compared to £76.1 to the primary quarter of 2015 and a modest 10-percent gain at the £111.4 million reporting in the course of the fourth quarter of 2015.
Showing strength as a company, the gang reported revenue increases in every vertical this past quarter when put next to the similar quarter a year ago. Sports wagering gross winnings revenue increased by an astounding 52 percent from £35.5 million within the first three months of 2015 to £54.1 million through the first three months of this year.
Showing much more strength was gross winnings revenue produced by the group's casino and games vertical which increased by 76 percent from £34.9 million within the first quarter of 2015 to £61.3 million within the first quarter of 2016.
Casino and games (50 percent) and sports wagering (44 percent) accounted for 94 percent of the whole gross winnings revenue for the gang. That being said, growth was also shown for its poker segment whose gross winnings revenue increased by 45 percent from £2.2 million within the first quarter of 2015 to £3.2 million within the first quarter of 2016.
While one of the vital revenues were end result of the a couple of acquisitions last summer including iGame and Stan James, Unibet CEO Henrik Tjärnstöm shared within the financial report that significant growth would have taken place regardless.
"Unibet Group’s growth continued to develop strongly within the first quarter, with a rise of gross winnings revenue in GBP of 61 percent and 58 percent in constant currency in comparison to the primary quarter last year," Tjärnstöm explained within the earnings release. "THAT IS again significantly higher growth than the total market and indicates that we're continuing to take market share around the board. Organic growth excluding last year’s acquisitions and in constant currency was 41 percent in comparison to the primary quarter last year.”
Other signs that Unibet is more healthy than ever before are significant increases in both Earnings Before Interest, Depreciation, and Amortization (EBITDA) and profit after tax. EBITDA for the gang increased by an enormous 80 percent from £14.4 million within the first quarter of 2015 to £27.6 million within the first quarter of 2016 with profit after tax doubling from £10.0 million in Q1 2015 to £20.0 million in Q1 2016.
Tjärnstöm credits these increases within the press release to operating more efficiently stating that, "Scalability and value control has enabled EBITDA to grow by over 80 per cent. The profit after tax has doubled to GBP 20.0 million which shows how we're adapting our business model to take in increased betting duties from core markets."
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