Wagers down but NGR up at Betbull

Among the many companies currently reporting on commercial performance over the first nine months of 2010 is Betbull Holding SE, which this week published its results for the period to September 30.
Highlights include:
–  Betting stakes of Euro 58.9 million for the nine months down 7 percent compared to Euro 63.1 million in the same period last year.
–  Gross hold Euro 13,17 million (YTD/2009: Euro 10,58 million).
– Net gaming revenue of Euro 11.7 million for the nine months up 28.6 percent compared to Euro 9.1 million in the same period last year.
–  Total income Euro 11,86 million (YTD/2009: Euro 9,26 million).
–  Gross profit Euro 9,5 million (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) of Euro 1.2 million for the nine months and cash position as at 30 September 2010 also excluding the Spanish operations of Euro 5.5 million.
–  Loss after tax (Euro 1,938,725) YTD/2009: (Euro 3,029,630).
–  Current liabilities Euro 4,729,859 (YTD/2009: Euro 4,756,266).
– Cash (position including Spanish operations) as at 30 September 2010 of Euro 5.7 million compared to Euro 4.9 million as at 30 September 2009.
Management confirmed that Betbull has sold 100 percent of Winners Apuestas SA, its Spanish subsidiary, to Bwin Interactive Entertainment AG, and revealed that the company will now concentrate on its core business in Germany.

Related and similar