Unibet, Kambi roar out 2016’s starting gate

Swedish-listed online gambling operator Unibet set another revenue record in the first quarter of 2016 following an acquisition-heavy 2015.

Figures released Wednesday showed Unibet’s gross winnings revenue hit £122.4m in the three months ending March 31, up 61% from the same period last year. The numbers were goosed by £12.8m in contributions from recent acquisitions Stan James Online and iGame Group.

Unibet’s earnings were similarly impressive, rising 80% to £27.6m while profit after tax doubled to £20m. The acquisitions dramatically improved the number of active customers, which rose from 612k in Q1 2015 to just over 1m this year.

Unibet CEO Henrik Tjärnstöm said organic growth excluding last year’s acquisitions was 41%. Gross winnings revenue to date in Q2 is up around 50% year-on-year (20% minus the acquisitions) despite lower sports betting margins.