Sportingbet Reveals Trading improvement
13th December, 2007
Sportingbet the online gaming firm, has reported a net loss of £1.7million for the first fiscal quarter, along with a £2.5million decline in net gaming revenues. After last year’s same quarter £11.2million loss, this is a substantial improvement.
Newer markets in Europe, especially Turkey, Greece, Spain and Italy were attributed for the improvements, with strong betting flows in sports including football, tennis and basketball. They produced a net gaming revenue of £14.9 million, compared with £12.6 million for the same period last year. The number of sports betting customers in Europe rose 7%, with the total number of bets rising by 16%.
Chief executive of Sportingbet Andrew McIver said: “We will carry on focusing on sports, but we need to take whatever products we have got and make a better effort with it”. He also said that the second quarter had started well, adding that the company would focus on improved customer recruitment and retention, strengthening its retail offering and improving its website in the coming year.
