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Unibet Gross Winnings and Profits Decrease

UK sports betting operator Unibet Group reports decrease in gross winnings and profits.

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Unibet Group released its interim fiscal statement for the third quarter in 2012 to the online gambling news in UK.

The UK online sportsbook operator reported a decrease in both gross winnings and profits over the quarter. The bad numbers are attributed to the late start of European football season as well as currency exchange losses.

The company’s GBP 2.6 million one-off payment to the Spanish gambling and tax authorities also worsened the Q3 results.

Here are the main Key Performance Indicators (KPI) required by British gambling laws and stock exchange regulations for the quarter ending on September 30, 2012.

Unibet gross winnings revenue is down significantly to GBP 43.8 million from 37.8 million in Q3 in 2011.

Company profits from operations amounted to GBP 4.5 million, another significant decrease compared to the GBP 8.2 million in the same period in2011. Excluding the one-off Spanish tax GBP 2.6 million payment, profits for Q3 2012 would have amounted to GBP 7.1 million, which is still a decrease.

Profits before tax were down to GBP 4.0 million from GBP 8.2 million, profit after tax were down to GBP 3.4 million from GBP 7.5 million year-on-year. Earnings per share equaled to GBP 0.12, down from GBP 0.269 year-on-year.

Year-to-date KPI-s for the period between January 1, 2012 and September 30, 2012:

Gross winnings revenue down to GBP 140.3 million from GBP 109.7 million year-on-year. Profit from operationswas down to GBP 22.6 million from GBP 26.6 million.

Unibet profits before tax were GBP 22.1 million, down from GBP 26.2 million. Profits after tax were GBP 19.8 million from 24.2 million year-on-year. Earnings per share were GBP 0.710 compared to GBP 0.864.

However, the number of active customers was up to 382,378 from 325,194.

The company is about to launch a Belgian operation together with Rank as soon as they obtain local licenses.

Daily gross winnings revenues during the first four weeks of October were 29 percent compared to the third quarter, and up 20 percent compared to the same period in year-on-year.

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