Unibet on course for record year following consecutive ‘all-time high’ quarter performance

Stockholm-listed European sports betting operator Unibet Plc is on target to deliver its strongest ever full-year performance, following a consecutive ‘all-time high’ quarter performance for Q3 2016 (period ending 30 September).

Updating the market, Unibet detailed that period group revenues had hit £142 million (Q3 2015: £83 million). Its strong revenue performance would see Unibet declare a period EBITA of £33.9 million.

Closing the successful quarter, Unibet governance would declare profits after tax of £21 million (Q3 2015: £12.9 million).

The operator continues its strong 2016 momentum, which Unibet governance stated was a testament to the enlarged group’s growth strategy and effective scalability.

Updating investors on its year-to-date performance, Unibet governance declared group revenues of £391 million (YTD 2015: £242 million) combined with YTD group profits (after tax) of £54 million (YTD 2015: £36 million).

The combined enterprise of Unibet, iGame and Stan James has seen the operator hit + 1 million active players during the quarter (220,000 delivered by iGame and Stan James brands).

Unibet governance further informed investors that the company is closing its full-year 2016 strongly, as the operator has been able to sustain its new player acquisitions and revenue momentum gained during this summer’s Euro 2016 championships.

Commenting on corporate performance Henrik Tjärnström, CEO of Unibet Group, stated;

“Strong performance across all brands and successful acquisitions deliver 65 per cent increase in Gross winnings revenue (42 per cent in constant currency, of which 27 per cent is pure organic growth)”

“High activity levels driven by the ability to retain the customers from the Euro tournament that started in the second quarter has led to a continued gain in market shares. The margin in the sportsbook was in line with the prior year and the long-term averages, so it was pure activity growth that delivered a new all-time high in Gross winnings revenue of GBP 142.3 million.”

“It is of course particularly satisfying that the excellent top line growth converted into a new all-time high in EBITDA, demonstrating again the scalability of the Group’s business model which is structured to meet the future challenges of further regulation.”

“All our brands performed very well in the third quarter. The Group underlying EBITDA grew by 38 per cent in constant currency. If iGame Group and Stan James Online had been part of the Group for the full third quarter 2015, their combined EBITDA would have grown by 95 per cent in constant currency.”