1st of August 2010 Author: Johnny Karp
UK interactive gambling provider reports 50 percent rise in profits
The UK-based Sky Betting and Gaming subsidiary of BSkyB has reported positive annual financial results this week, with annual gross margins up 21 percent thanks to a strong performance from online gambling and mobile activities.
Sky Betting's gross margins reached GBP58 million (2009:GBP48 million) and profits soared 50 percent compared with last year.
The company's mobile business has trebled over the past six months, and online operations overall recorded an impressive 80 percent growth, driven by extensive use of television, internet media and Google-oriented marketing. Mobile operations have even overtaken the interactive television activity of the firm, with iPhone usage booming thanks to a betting app. which almost 1.5 million users have downloaded.
However, interactive television could stage a come-back thanks to ambitious plans at BSkyB to launch broadband-enabled set-top boxes to households across the UK over the next 18 months.
Sky Betting's websites Sky Vegas, Sky Poker, Sky Bingo, Sky Bet and Oddschecker all reported healthy demand for services.
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