GOOD RESULTS FROM REDBET

26 October 2007

Stockholm-based firm reports 416 percent growth in turnover


Results for the third quarter to September 30 will be cause for celebration among the investors in Stockholm-based online gambling firm Redbet Holdings, which released its latest numbers this week.

The Swedish betting and gaming operator reported a 416 percent increase in turnover to SEK18.5 million (GBP 1.4 million) for the period ending 30 September. Turnover for the nine month period showed a similarly buoyant performance, rising 316 percent to SEK38.5 million and the company recorded net profits of SEK 2 million.

Management said that the Euro 1.6 million and Euro 1.5 million acquisitions of Pullman Gaming and Teletoto in Latvia respectively had started producing results. Redbet acquired Mike Bennet's Pullman Gaming and its assets Gold Club Casino and Total Poker in April this (2007) year.

The report disclosed that Redbet has launched its NextPoker product on three different networks, Ongame, B2B and IPN.

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