Australian racing, sports betting and fantasy wagering company TopBetta has announced positive results for the quarter ending December 31, 2017.
The company reported an increase in turnover of 52 per cent, which equates to AU$82.91m.
Total revenues were up 95 per cent to $6.92m, with active unique client numbers up 30 per cent to 14,233.
The company attributes the increased turnover to two major factors: the growth of Alderney-based subsidiary The Global Tote, and a positive quarterly period for its Australia-based retail platform.
TopBetta’s managing director, Todd Buckingham, said: “I am pleased to update shareholders that the company is exactly where we thought it would be regarding total company turnover, if not slightly exceeding our own expectations, which has resulted in healthy revenue growth. Our active unique client number, 14,223, is the highest it has been and it positions us well for a strong 2018.
“During the December quarter, the company generated $1.59M for Australian racing bodies through Race Fields fees and over $2.5m for the half year up until December 31, which would be a very pleasing result for the racing industry.”
