Mobile becomes Unibet’s single largest channel

unibetScandinavian operator Unibet has posted record gross winnings revenue for the third quarter of 2015, and the growth would have been even higher had it not been for an unfavourable exchange rate.

Gross winnings revenue amounted to £86.1 million for the third quarter, up from £80.4 million for Q3 2014. However this was ‘significantly affected’ by the translation effect of movements in currency exchange rates given that the underlying organic growth in gross winnings revenue in constant currency was more than 21%.

CEO Henrik Tjärnström commented: “The Unibet Group continued to deliver very strong organic growth in the third quarter, driving another all-time high in gross winnings revenue. Organic growth, excluding the effect of changes in FX rates and the contribution from acquisitions was 21% in constant currencies. Sports betting turnover increased by 24% in GBP, which equated to organic growth of around 40% in constant currencies.”

“Underlying EBITDA for the third quarter was slightly below the result for the same period in 2014, as a result of lower sports betting margins and the impact of the changes in exchange rates of approximately 13 per cent.”

Tjärnström said that Unibet’s focus on the mobile strategy five years ago has enabled the operator to remain at the forefront of industry developments. In the third quarter Unibet’s share from the mobile grew by 47% compared to the third quarter last year and amounted to 51% of the firm’s gross winnings revenues, becoming its single largest channel.

He added: “During the quarter the Unibet Group completed the acquisitions of the iGame Group, which contributed GBP 0.7 million of gross winnings revenue and GBP 0.1 million of profit before tax and Stan James Online, which did not contribute as it was acquired on 30 September. The combination of our continuing organic growth and these strategic acquisitions give the Unibet Group a strong platform for accelerated development in future quarters. The acquisitions also bring new expertise into our teams, with opportunities for future synergies and increasing our share of revenues from locally regulated markets.”

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