|British company UKBetting, an online gambling and sports website, announced yesterday that it was still very much looking for acquisitions to make to boost the company’s performance. The company recorded a first half loss this year, and is wanting to consolidate certain branches of the company buy buying other interests.|
Vice-Chairman of the company, Peter Dubens stated that the focus will be to add to the sports betting branch of the company, an area which currently accounts for 84% of their revenue. This aspect of the site was formed by takeovers of other sites such as Football365.com and Rivals.net. Immediate plans are to launch sites in Scandinavia and Germany.
Despite the fact the company posted a loss for the first half of 2004, the loss was reduced from the previous six month period, which in itself is some good news for UKBetting. The turnover figure for the company increased by 56%, to £43.1 million, a figure which includes acquisitions. The loss figures were reduced from £2.9 million to £1.5 million, both figures being pre-tax ones.