Online Sportsbook Unibet Reports Increase in Earnings in Q1 of 2014

2014 Q1 financial results look good for Unibet, as they plan to capitalize on the current market trend.

The mobile sportsbook achieved revenues of $113.6 million in the first quarter of 2014, which resulted in a rise of 14% compared to last year’s same period, as the figure was nearly $100 million.

Net profits are directly linked to the increased revenue achieved in Q1, which went from being $17.8 million a year prior to $25.7 million.

An increase in the customer base significantly helped boost the financial figures for the first three months of this year. In last year’s Q1, the number of registered Unibet users was 7.3 million, while for 2014 Q1 the figure stands at 8.9 million.

Unibet attributes much of its recent success to its mobile channel, which represents 31% of their total gross earnings.

Unibet’s Kambi sports betting subsidiary experienced the greatest results up to now, as it is another one of the drivers behind the betting firm’s high revenues.

Window of opportunity is now

Chief executive officer of Unibet, Henrik Tjarnstrom, believes that the mobile casino gambling division is one of the main proponents of the Unibet’s sales.

“The mobile channel continued to develop strongly in the quarter and represented 31% of total gross winnings revenue.

Additionally, he further stresses how the window of opportunity is currently open, and their financial results are working in their favor to capitalize on the trend.

“Kambi’s growth and increasing profitability confirm that now is the right time to maximize the value of the investments that Unibet has made through the proposed distribution of Kambi to shareholders.”