Centrebet International Reveals Outstanding Financial Results

Centrebet International Ltd. is an online wagering and gaming company. The principal activities of the Company are the provision of online wagering products to the domestic and international sports, race betting market, entertainment and political events as well as online poker and casino products to overseas customers but not to Australian residents due to regulatory restrictions. The Company's subsidiaries include Centrebet Pty Ltd, SportOdds Systems Pty Limited, G Promotions Pty Limited, SuperOdds International Limited, Centrebet UK Limited and Centrebet Holdings Limited.
Centrebet was formed via a merger, in October 2003 between Centrebet and SportOdds. The group represents some 13 years of successful operations in the global on-line and wagering market and obtained the first telephone sports bookmaking licence in Australia in 1992 and in 1996 was one of the first sports bookmakers worldwide to go on-line. Since then, the Group, has expanded operations by obtaining a bookmaking licence in the UK.
Centrebet has just released their financial picture for the latest full year results, which revealed an outstanding 75 percent increase in after tax profits to $13.09 million. Betting in Australia made up 80 percent of its total earnings before interest, tax, depreciation and amortisation.
Centrebet has an established brand in its core markets of Australia and Scandinavian with an estimated 60,000 active customers. The competitive advantage has paid off for Cenrebet with an experienced management team and a broad product offering. With a wide variety of wagering and online gaming products, this provides multiple avenues to attract clients via cross selling opportunities. Centrebet's customers are also from the Nordic region the U.K. and Europe.
Graham Kelly chairperson for Centrebet, said, "CentreBet has delivered an outstanding financial year result, reaping the rewards from strategic initiatives focused on growing Australian online market share." Kelly added, "Investing in leading-edge product innovation and demonstrated effective cost controls are paying off. The company is in very strong shape financially and is well positioned to benefit from expected continued growth in the industry."