Malta-based online gambling operator Unibet Group has announced its financial results for the third quarter of 2008 showing net gaming revenues of $45.68 million, which was a 51 percent increase on the same period last year.
Net gaming revenues for the previous nine months were announced as $137.99 million, an increase from last year’s $88.72 million, while profits before tax for the third quarter amounted to $7.01 million, which was down on 2007’s $10.75 million.
Profits after tax for the third quarter amounted to $6.07 million, down from the $10.13 million reported last year while those before tax from January to September came in at $17.76 million, also down on 2008’s $27.11 million. Net profits for the nine-month period were announced as $15.11 million, also considerably lower than the $25.55 million seen in 2007.
Remaining optimistic, Unibet stated that the number of active customers at the end of the quarter was 264,015, which was up on last year’s 257,312.
“Unibet’s performance in the third quarter demonstrates the operational strength of our geographical and product balance,” said Petter Nylander, Chief Executive Officer for Unibet.
“We have continued to grow our business especially in Southern and Eastern Europe. The rollout of bingo across Europe has continued and we have added Travnet Live Racing to our product portfolio.
“Live betting showed a continued growth and gave an important addition to the sportsbook and is now counted as an important key differentiator in our offering.”
“Given the strong growth still in the online gambling market it is at the end of October still difficult to determine what impact the actual financial situation in the world has on our business model.”