Betbull Issues Report on First Nine Months


Mixed results up to September 30

Another one in the sea of reports on the performance in the first nine months of 2010 comes from Betbull Holding SE, which has released a report for the period to September 30.

The highlights are the following:
- A 7 percent drop in betting stakes to Euro 58.9 million, compared to Euro 63.1 million in the same nine-month period last year.

- Euro 13,17 million of gross hold (YTD/2009: Euro 10,58 million).

- Euro 11.7 million of net gaming revenue, which is an increase of 28.6 percent compared to Euro 9.1 million in the same period last year.

- Euro 11,86 million of total income (YTD/2009: Euro 9,26 million).

- Euro 9,5 million of ross profit (YTD/2009: Euro 7,39 million).

- EBITDA (including the Spanish operations) was Euro 1.6 million compared to negative Euro 2.0 million in the same period last year.

- EBITDA (excluding the Spanish operations) was Euro 1.2 million for the nine months and cash position also excluding the Spanish operations was Euro 5.5 million.

- Loss after tax (Euro 1,938,725) YTD/2009: (Euro 3,029,630).

- Euro 4,729,859 of current liabilities (YTD/2009: Euro 4,756,266).

- Cash (position including Spanish operations) in the first nine months was Euro 5.7 million compared to Euro 4.9 million for the same period in 2009.

Betbull's management confirmed that the company has sold all 100 percent of its Spanish subsidiary Winners Apuestas SA to Bwin Interactive Entertainment AG, adding that they will now focus on its core business in Germany.

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