Sportingbet release strong figures for last 4 months
Increases are made in membership and betting activity on the site
Tuesday 3rd August 2004
Sportingbet have released details of their trading figures this year- with bets increasing by 55% compared to the same period last year. This increased betting activity saw a total of £9.2 million being bet via this online site, compared to £5.9 million in 2003. A release made by the UK based company revealed that they gained 76, 922 new registered customers in the last four months, while last year they gained 68,931 in the same four months.
Factors believed to be responsible for this strong performance include the site’s expansion into new territories, as well as the introduction of new games- including the extremely popular poker. Using these figures as a base Sportingbet are now predicting that operating profit for the period will increase to approximately £2.1 million, instead of the £0.9 million in 2003. Similarly the figures for a sixteen month period ending on 31 July 2004 should see, according to sources at Sportingbet, operating profit increase to £21.7 million, while the previous year’s was £15.5 million.
As the last four month period is traditionally regarded as a quiet period, Sportingbet are anticipating they will make even further gains for the rest of the year- as it is expected that this remaining period will be busier, as it is usually a busier season in sports generally. This is when they expect to make real headway thanks to the diversified products they are now hosting, and the expanded regions the site is available in.
