Today, Unibet Group announced its results for the fourth fiscal quarter, revealing a considerable growth in its operations located in Western Europe, as well as a double-digit increase in its revenue generated by its sports betting operations. The latter is also considered the reason for the company’s full-year profits’ year-on-year increase by 82%.
According to Unibet’s statement, its earnings before interest, taxes, depreciation and amortization (EBITDA) for the fiscal year that ended on December 31st amounted to £115.7 million. This is an increase in comparison to the EBITDA of £63.4 million, generated a year ago. The operator also revealed that there was a 16% year-on-year increase in its gross gaming revenues (GGR), which reached £312 million.
The largest contribution to the company’s GGR came from its casino operations, which increased by 14% and generated a total of £149.8 million. The poker business of the online operator, however, was hurt by a 38% decline. It brought a total of £8.4 million.
The Chief Executive Officer of Unibet – Mr. Henrik Tjärnström – commented on the company’s performance for reputable media: “In spite of a sports betting margin below the long term average, Unibet’s markets continue to show strong growth and profitability.”
In spite of the fact that the fourth fiscal quarter picture was rather mixed, Unibet managed to report a full-year growth. The gross gaming revenues over the fourth quarter rose by 4% and reached £78 million. On the other hand, the operator’s earnings before interest, taxes, depreciation and amortization over the period fell by 6% to £18.6 million because of a 7.8% decline of the company’s sports betting margin. This brought the full-year average down to 8.6%.
The gross gaming revenues generated from the company’s operations in Western Europe is considered the major reason for Unibet’s full-year growth. The company reported a 45% increase year-on-year. This performance helped it neutralize the negative impact on the operator’s Nordic markets. Western European markets provided 45% of the company’s total GGR, which is an increase from the previous 32% announced in 2013.
Again according to the company’s report, the Nordic markets have a contribution of 48% to the total. This is a decline in comparison to its contribution generated in 2013, which amounted to 54%. The region generated a gross gaming revenue of €150.9 million.
The company did not provide any direct figures for the gross gaming revenue of Unibet in Australia, the operator still reported that the GGR in its “other” markets outside Europe declined by 16% and reached £9 million.
