The parent company of Microgaming Network online poker room Unibet released its 2009 first quarter financial statements on Monday. The company is traded under the symbol “UNIB” on the OMX Nordic Stock Exchange.

Among the highlights given by Unibet was that gross winnings revenue totaled ₤36.1 million during the first quarter of 2009, up from ₤31.3 million during the same time period in 2008. The company boasted 314,000 active players during the three-month period, up from 288,000 last year. Overall, 3.3 million players call the online sports book, casino, Bingo parlor, and poker room home. Unibet’s profit from operations was ₤10.3 million during the first quarter, while its profit before taxes was ₤10.7 million. The latter number was up significantly from 2008, when profit before taxes was just ₤2.9 million. Unibet recorded a profit after taxes of an even ₤10.0 million during the year’s first three month period.

For its investors, Unibet announced that earnings per share were ₤0.357 during 2009’s first quarter, up from ₤0.078 during the same time period in 2008. The net cash per share, however, fell from ₤1.525 during Q1 2008 to ₤1.318 this year. Net cash per share is defined as total cash at the end of the time period in question less customer balances. A statement released by Unibet previewing its financial figures heralded the company’s cash flow position: “Our strong business model and the well balanced product portfolio have resulted in another strong quarter in terms of gross winnings and operating cash flow.”

In March, Unibet inked a deal to become the main “web partner” with the Paris Saint Germain soccer club. In addition, “Pokermilliomos” began airing on Viasat 3 in Hungary. Unibet’s software is translated into 20 different languages and permeates more than 100 countries around the world. The site does not accept players from the United States, as is the case with all Microgaming Network online poker rooms. In terms of its poker offering, Unibet’s financial recap explained, “Unibet Poker had a good quarter with record intake of new players [despite] a very competitive landscape in Scandinavia. The Unibet Open poker tournament carried on its successful development with a highly appreciated event in Budapest. Local versions of this tournament were also launched in Poland and the Czech Republic.”

Unibet’s gross revenue for its sports betting offering was ₤14.3 million during the first quarter of 2009, up from ₤10.5 million year over year. Gross revenue for its other business units was ₤21.8 million, up slightly from ₤20.9 million for the first quarter of 2008. In Western Europe, Unibet reported total gross revenue of ₤13.9 million during the first quarter of 2009, up from ₤11.9 last year. The same figure for the Nordic regions was ₤17.6 in 2009, up from ₤17.2 from 2008. Other areas of Europe reported revenues of ₤5.9 million in Q1 of this year, up from ₤3.6 million over the same time period in 2008. The company’s gross margin on sports betting was 11.3%.

Providing a glimpse into the operations of a major multi-faceted online gaming site, Unibet noted that it has 446 total employees (up from 333 at the same time last year). At the close of the 2008 calendar year, a total of 412 employees called the company home. According to PokerScout.com, which ranks online poker room traffic, the Microgaming Network is the eighth largest worldwide with a seven day running average of 2,150 real money ring game players. At its 24 hour peak, the Network boasted 3,963 cash game competitors. Other Microgaming Network sites include Ladbrokes, BetOnBet, Eurolinx, Gnuf, PokerTime, PokerWize, and Purple Lounge. The Unibet Group is headquartered in Malta.

Leave a Comment

Your email address will not be published. Required fields are marked *