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Online Group Reports Double Digit Growth

Australia’s CentreBet.com expects growth as high as 15 percent for full year with new sportsbetting site launching soon.

Friday 29th February 2008

Online wagering and casino site CentreBet.com has announced net profits for the first half of the year of $5.5 million with predicted growth of up to 15 percent seeing full-year profits as high as $12.8 million.

Centrebet.com was Australia’s first Government-approved bookmaker to offer online wagering on sports and stated that it is ahead of schedule with plans to launch a new sportsbetting operation branded SportsOdds.com, which is the result of a strategic alliance with Fairfax Digital opening the way for well directed marketing and promotion as well as access to a range of high volume sports websites.

The Alexandra-based firm revealed total wagering turnover rose 5.7 percent for the first half to $383.2 million despite an outbreak of equine influenza with a win rate of 5.6 percent, which has been pushed up so far to six percent.

“Wagering trading remains robust and points to a strong second half consistent with the trend of the previous two years,” said Graham Kelly, Chairman for CentreBet.com.

“Casino growth has been supported by regular releases, the promotion of new games and the launch of Flash casino games, which can now be conveniently accessed by customers through the sports wallet.”

The firm revealed overall gaming revenues for the first half increased 49 percent off the back of a 76 percent rise in its Orbis-powered online casino product with a nine percent rise in its Microgaming-powered poker product. This stems from improved marketing initiatives including the cross selling of products to Centrebet.com’s wagering customer base and the acquisition of gaming-only customers.

“Our active clients grew by 17 percent to 59,057 in the first six months with the Affiliate Program accounting for 29 percent of all new customers,” said Con Kafataris, Managing Director for CentreBet.com.

 


Source: OnlineCasinoNews