Online gambling operator Unibet Group today announced its financial results for the quarter ended March 31, 2016. Gross winnings revenue for the period reached new all-time high of £122.4 million, up 61% year-on-year. In comparison, the amount of £76.1 million was reported for the same period a year ago.
Gross winnings revenue from sports betting amounted to £54.1 million, up from the £35.5 million generated in the first quarter of 2015. During the period in review, live betting accounted for 63.5% of overall sports betting turnover and for 52.2% of sports betting gross winnings revenue.
Gross winnings revenue from other products offered by Unibet totaled £68.3 million during the first quarter of the year. In comparison, the amount of £40.6 million was reported for the same period of 2015. Casino games generated a total of £61.3 million for the period in review. Poker operations contributed £3.2 million to overall gross winnings revenue. Other gambling products offered by Unibet generated the amount of £3.8 million during the quarter ended March 31, 2016.
EBITDA totaled £27.6 million, representing an 80% increase. Profit before tax almost doubled in the first quarter of the year to reach a total of £22.5 million as compared to the amount of £11.3 million posted for the three months ended March 31, 2015. Profit after tax amounted to £20 million compared to £10 million in the first quarter of the previous year.
Net cash from operating activities totaled £31.4 million, representing an increase of 90% year-on-year. The amount of £16.6 million was posted for the same period a year ago.
Unibet said that its newly acquired businesses Stan James Online and iGame Group contributed the total amount of £12.8 million in gross winnings and £3.1 million in normalized EBITDA.
By the end of the quarter, the online gambling operator had as many as 1,007,365 active customers as compared to 612,269 active customers reported for the first quarter of the previous year.
Henrik Tjärnström, CEO of Unibet Group, commented that the company’s growth continued to develop strongly during the first quarter of the year. Unibet reported a strong growth in both the Nordic and the Western European regions and mobile offering continued delivering excellent results, with gross winnings revenue from mobile products and services accounting for 59% of the overall figure posted.
