Unibet thriving after acquisitions

Unibet thriving after acquisitions

Wednesday, February 10, 2016 Totally Gaming
The group saw a boost in active customers following the integration of Stan James and iGame

Unibet’s share price soared today (Wednesday) following a record quarterly performance during the final three months of 2015.

The gaming operator, which integrated Stan James and iGame Group during the period to December 31, 2015, generated £111.4m (€143.0m/$160.7m) in revenue, which was up 43 per cent year-on-year.

Underlying earnings of £27.1m were around 50 per cent greater than the £18.4m reported in 2014, while profit after tax of £19.4m was up 43 per cent from last year.

After adding more than 150,000 customers from Stan James and iGame – both of which were acquired during Q3 2015 - Unibet had a total of 921,150 active customers by the end of the year. This figure was 61 per cent up on the end of 2014, and 37 per cent higher than the third quarter.

In its unaudited results for 2015, Unibet recorded revenue of £354m, up 13 per cent on 2014, with profit set to hit £69.7m, some eight per cent higher than last year.

“We have delivered a market-leading revenue growth in the fourth quarter of 2015, generating a 43 per cent increase in gross winnings revenue as reported in GBP compared with the same period in 2014, 57 per cent in constant currencies,” Unibet chief executive Henrik Tjärnström said.

“The focus on scalability across the group has enabled us to deliver a new all-time high in underlying EBITDA for the quarter.

“The acquisitions have also accelerated the transformation of our business and locally-regulated revenues are now 34.3 per cent of gross winnings revenue compared with 28.4 per cent in the third quarter of 2015. The UK, the world’s largest locally-regulated gambling market, is now our largest locally-regulated market.”

Unibet’s £19m purchase of Stan James was finalised in October, while it agreed to pay at least £45.8m for iGame Group in August.

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