Maria Bingo Owner Unibet in Trouble
MariaBingo owners Unibet's profits have tumbled. Profits fell to £20m compared with £28.5m in 2006. This despite the active customer base increasing to 15% compared to the previous quarter for both Unibet and newly-acquired bingo operator Maria Holdings.
Unibet.com said it had experienced "unsatisfactory earnings" and "charges" in relation to the terrible difficulities as regards the Unibet cycling team being kicked out of the Pro Tour cycling calendar as well as "increased marketing costs" related to "revenue share and affiliate programme costs".
On the positive side, quarterly sportsbook margins were 7.5% thanks to favourable results while Unibet's poker product in Sweden experienced 10% growth on a quarterly basis. Looks like they may well be relying on Bingo earnings from Sweeden in the future to help steady the ship.
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