Unibet Moving Forward to Capture Online Bingo Market

Published Wednesday, May 05, 2010 - Online-Casinos.com

Unibet's chief executive officer Petter Nylander announced recently that Unibet will acquire just over 25 percent of Bingo.com claiming this move is in anticipation of the opening up of the American online gambling market. Bingo.com is listed on the NASDAQ stock exchange and is valued at somewhere around $10 million USD. The Unibet portion was said to be around $2.25million USD. Nylander said: “We believe in the power of the Bingo.com URL and believe that Bingo.com will be a leader in online bingo for years to come.” Unibet has established itself as an online gaming and online gambling company which offers poker, casino games, scratch cards, sports betting, and online bingo. The company is headquartered in Malta and is owned by the Nordic OMX listed public company Unibet Group plc. Unibet ranks among the top 5 online gaming operators in Europe. The Bingo.com URL ranks at the top of major bingo related keywords today and has more than 1,975,000 registered users. CEO of Bingo.com, Tarrnie Williams, said, “Bingo.com is pleased to have secured a private placement from Unibet,” Unibet has been doing very well of late with a strong performance on it's year over year profits. Nylander said at the press conference in that the strong showing represented “the re-emergence of sports betting as the key product for customer acquisition, cross sell and loyalty.” Live betting and the mobile channel were the main drivers of this growth said Nylander. The Swedish operator also confirmed its intention to apply for a licence in France where new rules for internet gambling are revamping the market possibilities. Henrik Tjarnstrom, chief financial officer for Unibet was realistic when he commented that if Unibet was successful in it's bid for a licence in France earnings would be, "only marginal in 2010. " Analysts say that the short term costs of operating in France will be offset by the longer term benefits of higher-quality earnings.








Related news

Return to Latest News