Sportingbet said sums gambled on sports in its key Australian market grew 82% last year and it had gained higher than expected benefits from an acquisition there.
The online gambling company has said a £350 million approach by bookmaker William Hill and GVC “significantly undervalues” it, but left the door open for a higher bid.
Sportingbet on Wednesday reported earnings of £56.8 million on revenues of £188.9 million for the year to the end of July.
However, the company posted an operating loss of £39.1 million once a slew of one-off charges were included.
Chief Executive Andrew McIver said the company had benefited from a year of transition after selling off operations in Turkey and relaunching in Spain after regulatory changes.
“Sportingbet is a very different business to that of a year ago and is in a much stronger position,” said McIver and he stressed: “Our successful acquisition of Centrebet, which has out-performed our expectations, disposal of Turkey and introduction of regulation in our other key countries has resulted in over 80% of the group’s revenue now being derived from regulated and/or taxed countries.”
Source: gaming-awards.com
