|Betbull has shown impressive growth this year, with a record gross income of €84m, more than four times that of last year, which was still a significant €20.1m. The net gaming revenue has also grown by over 300%, and now stands at €15m.|
These figures are particularly impressive when the company’s expansion into Spain and Italy is taken into account, as well as the legal difficulties it has faced in Germany. Extraordinary costs are listed as including legal fees and lobbying.
In a statement on the company website, Director Simon Bold said, ‘Considering the difficult regulatory circumstances I am very pleased with the growth achieved.’ He also states that he is looking forward to expansion in Spain.
Betbull was started in 2004 as a joint venture of online gambling site betandwin.com and Fun Technologies in 2004, and is quoted on the Viennese stock exchange. The company then completed its acquisition of a leading German retail bookmaker in October 2005, opened shops in Spain in 2006, and signed a joint venture with Grupo Orenes later that year. In January of this year it was awarded betting licenses in Italy.