Despite seeing a slight drop in total revenues, Sportingbet has reported a massive 431 per cent increase in net profit from £3.9m to £20.7m for the year ended July 31.
The group had a solid start to the new financial year with net gaming revenue in the first two months 17 per cent above the same period last year. In-play continues to perform strongly for the company with 67 per cent of European sports amounts wagered, at an industry leading margin of 9.7 per cent.
"This has been a year of significant progress for the group both in terms of financial performance and corporate developments," said Sportingbet group chief executive Andrew McIver. "With the acquisition of Centrebet in Australia and the passing of regulations in two of our largest European markets, Greece and Spain, Sportingbet is now well positioned to maximise the opportunities available to it as the global online gaming market continues to develop and regulate," he added.
Sportingbet, which completed its acquisition of Centrebet in August, is continuing its discussions with Ladbrokes regarding a possible offer for the entire issued share capital of the group and also Gaming VC regarding a possible disposal of the group’s Turkish language website.
