Sportingbet hits $1bn turnover
- Added:
- Apr 30, 2004
The online betting firm, in announcing results for the twelve months ending 31 March, said that its revenues of £1.086m were up 11% from the £9.79m earned in the previous year.
The company's most notable achievements occurred in Europe where Sportingbet customers rose 88% from 201,522 to 379,317. The region also saw a sharp increase of sports bets of 124% from 4.1m in 2003 to 9.1m.
The company added that European casino, virtual games and poker products had boosted results with proprietary games in these sectors showing a 289% growth in margin to £7.0m.
The company is expected to launch a selection of products in these areas onto interactive television in the UK during the summer.
Nigel Payne, CEO of Sportinbet said: "Our European business has improved materially. From a loss of £2.0m in the prior year, management has changed this region into a fast growing and profitable business, delivering £1.0m of operating profit this year."
Other all round results included a 30% increase in the number of sports bets to £21.8m as well a strong showing in Casino, gaming and fee earnings up 21% to £34.3m. Sportingbet now also claims more than one million registered customers.
April 2 2004:
October 23 2003:
"www.sportingbet.com ":http://www.sportingbet.com