High Betfair Revenues
Betfair, an online casino betting and gaming operator, issued this week a stronger than predicted Full Year 2011 results. The company has placed strong in earning profit and record revenues for the period despite questions in the regulatory arena, a series of middle management and quitting of well-known online casinos staff.
The company has a positive view for the first eight weeks and with new products seen to propel future growth. The Key Performance Indicators of online casinos for the 12 month include the following: (1) Group profit increase of 8.1 percent of GBP 368.6 Million (FY10: GBD 340.9 Million) and 54.4 percent growth after tax. (2) Basic earnings per share grow 56.2 percent. (3) Core Betfair income growth of 7.8 percent, and adjusted EBITDA rise by 29 percent to GBP 80.2 million. (4) Maiden announced final dividend of 5.9 percent per share. (5) Cash stand of GBP 155.0 million without obligations (FY 10: GBP 150.9 million) and clients capital held on deposit of GBP 305.6 million at April 30, 2011 (FY 10: GBP 284.0). (6) The number of play matched rise by 20 percent, a record year for site activity. (7) A Sports’ good performance is motivated by an increase of 24 percent in football incomes. (8) Football profit brings 42.3 percent of Sports income and 42.1 percent from horseracing. (9) Mobile revenues grow by 88 percent. (10) A fall by 14 percent at online casino revenues and an increase by 9 percent in games income, better than last year.
David Yu, Betfair Chief Executive Officer commented that in the past 12 month, the company flourished as a public enterprise. He also added that they are planning to put some online casino strategy that could place them in the same spot as the top internet sports gaming operator.