Unibet Sees New Revenue Record in Q2
Online gambling operator Unibet continues to set new records in what is proving to be a monumental year for the company.
UEFA Euro 2016’s success has propelled Unibet to raise its revenue by 57% year-on-year to a new record of £126.6million for the second quarter of 2016 ending June 30.
Figures showed that earnings rose to £22million, up from the £19million in the same period last year, while profit after tax was up only £100k, reaching merely £13.5million, due to the heavy marketing surrounding the football tournament.
Henrik Tjärnström, CEO of Unibet Group, said: “The quarter was characterised by the Euro 2016 which provided a new all-time high in customer activity and continued strong growth. Margins in the tournament were significantly higher in July than in June. If the margins had been consistent across the tournament, then gross winnings revenue for the second quarter would have been around £3m higher.
“In the period from 1 to 24 July 2016, average daily gross winnings revenue in GBP has more than doubled compared to the same period in 2015. Adjusting for the unusually high margin on the final stages of the Euros, the impact of exchange rate changes and acquisitions, the organic constant currency growth is close to 50 per cent.”
Euro 2016 betting generated £19.6million worth of revenue, and a hefty 14% betting margin. The tournament also helped to drive active customer numbers to 1.13 million at the end of the quarter, nearly double the 603k from the same period in 2015. Around 216k of these new customers came via iGame Group and Stan James Online; two businesses acquired by Unibet last year.
The revenue gains were aided by £14.7 million in contributions from these recent acquisitions, without which, revenue was up 39% while earnings would have dropped 8% to £17.4million.
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