Good Results from Sportingbet PLC

27 percent rise for in-play

A reputable online gambling group Sportingbet Plc has issued still unaudited report on the first trimester of its financial year, which showed some good results achieved during the period.

Key Highlights (period ending on 31 October 2010):

- 11 percent increase in amounts wagered, to GBP 513.9 million (Q1/2009: GBP 463.2 million)
- 17 percent growth of EBITDA, to GBP 11.3 million (Q1/2009: GBP 9.7 million)
- Success in mobile phone launch
- 27 percent boost of in-play, to 66 percent of European sports revenue (2009: 58 percent)
- New venture in prospect, with the second biggest licensed bookmaker in Russia, First International Bookmakers Company
- Non Prosecution Agreement reached with the US
- 5.1 percent in net gaming revenue, to GBP 51.1 million (Q1/2009: GBP 48.6 million)

A comment by Group Chief Executive Andrew McIver:

''I am pleased to report a strong set of results for the first quarter of the new financial year. Sportingbet continues to capture the growth opportunity in our industry which is ultimately being driven by ever increasing broadband penetration, continuing customer confidence in transacting over the internet and a greater customer awareness of the exciting opportunities presented by online sports betting. These compelling fundamentals underpin the long term growth potential of the business. Moreover, entry into new geographic markets, such as our recently announced Russian joint venture, demonstrate the additional opportunities that are available to the Group.''

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