Betbull Holding SE has announced its financial results for the previous nine months revealing net gaming revenues of $14.75 million, a 19 percent increase from the $12.35 million it reported over the same period last year.
Betbull is a major provider of gaming-focused retail entertainment in continental Europe and accepts betting transactions under licences issued in Malta, England, Spain and Germany. It stated that most of its current revenues derive from retail betting on horseracing and sporting events alongside complementary online gaming offerings.
It reported that its betting stakes rose 28 percent to $93.32 million for the previous nine months while its cash position was revealed as $11.6 million, which was up from $10.08 million at the end of September of 2007.
In September, Betbull announced a joint venture with Austria’s Bwin Interactive Entertainment AG to operate retail betting in Madrid under the name Betbull Bwin Espana SA. It stated that earnings before interest, taxes, depreciation and amortization (EBITDA) including this venture had dropped $756,649 to $126,108 while the figure excluding this business came in at $1.63 million.
In Germany, Betbull announced that turnover for the previous nine months was $93.32 million, a 28 percent rise on last year’s figure, while gross hold was $17.65 million, a 25 percent increase, and net gaming revenues increased 19 percent to $14.75 million.
“Overall, an excellent result from the German operations, where the group has managed to achieve steady growth and stable trading results despite the unfavourable legislative environment,” read a statement from Betbull.
In Spain, the Betbull Bwin Espana SA is now one of only four licensed operators in Madrid while Betbull revealed plans to roll out approximately 100 betting premises over the next four years including agencies and own shops.