Following a consecutive “all-time high” Q3 performance, European sports betting operator Unibet Plc is on target to deliver its strongest ever full-year performance.
The Stockholm-listed operator detailed that period group revenues had reached £142 million compared to the £83 million in the same period last year. Its strong revenue performance sees Unibet declaring a period EBIDTA of £33.9 million.
Closing the quarter on September 30th, Unibet governance declared profits after tax of £21 million, compared to the £12.9 million in Q3 2015.
The operator continues its strong momentum in 2016, which Unibet governance stated was a testament to the expanded group’s strategy and effective scalability.
Updating investors on its year-to-date performance, Unibet governance declared £391 million worth of group revenues, compared to YTD 2015 with £242 million – combined with YTD group profits after tax of £54 million, compared to 2015’s £36 million.
The combined enterprise of Unibet, iGame, and Stan James has seen the operator hit + 1 million active players during Q3 – 220,000 of which delivered by iGame and Stan James brands.
Unibet governance further informed investors that the operator is closing its full-year 2016 strongly, as the company has been able to sustain its new player acquisitions and revenue momentum gained during the Euro 2016 championships this summer.
Commenting on corporate performance, Unibet Group CEO Henrik Tjärnström stated: “Strong performance across all brands and successful acquisitions deliver 65 per cent increase in Gross winnings revenue (42 per cent in constant currency, of which 27 per cent is pure organic growth)”
“High activity levels driven by the ability to retain the customers from the Euro tournament that started in the second quarter has led to a continued gain in market shares. The margin in the sportsbook was in line with the prior year and the long-term averages, so it was pure activity growth that delivered a new all-time high in Gross winnings revenue of GBP 142.3 million.”
He went on to say that: “It is of course particularly satisfying that the excellent top line growth converted into a new all-time high in EBITDA, demonstrating again the scalability of the Group’s business model which is structured to meet the future challenges of further regulation.”
“All our brands performed very well in the third quarter. The Group underlying EBITDA grew by 38 per cent in constant currency. If iGame Group and Stan James Online had been part of the Group for the full third quarter 2015, their combined EBITDA would have grown by 95 per cent in constant currency.”