UNIBET AFTER TAX PROFIT UP

2 November 2007

Move to Malta has meant significant savings


Online gambling group Unibet had some good news to impart this week with its third quarter 2007 results, which showed a 22.6 percent rise in after tax profits to GBP 6.5 million on the back of increased revenues of GBP 20.2 million. However, pre-tax the numbers reflected a dip to GBP 6.9 million from GBP 7.5 million in the corresponding period last year.

Gross winnings revenue from sports betting operations at the group declined 7.2 percent to GBP 6.5 million but over the nine months in 2007 gained 6.3 percent, reaching GBP 20.1 million. Gross winnings from non-sports betting i.e.casino, games, bingo and poker went up 11.4 percent to GBP 13.7 million for the third quarter, with poker operations accounting for 35 percent of revenues and casino action 53 percent.

The company, which originated in Sweden and still has interests in the country, reported that Swedish gambling continues to be the biggest market for Unibet, delivering approximately 32 percent of total gross winnings. Southern Europe comes next at 28.5 percent and the rest of the Nordic region contributes 24.7 percent.

As of the end of the third quarter on 30th September 2007, the number of active customers signed up at Unibet totalled 257 312, up 20.2 percent over Q3 2006 from a total registered customer base of 2.06 million.

The company's change of domicile to Malta from the UK in November 2006 has resulted in a marked improvement in Unibet's tax liability, falling to GBP 400 000 in quarter 3 from GBP 2.2 million in the same period during 2006.

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