A Good Start For Betbrokers
Published: Wednesday, February 28, 2007 Online-Casinos.com
A GOOD START FOR BETBROKERS
Strong growth and a successful listing for UK betting broker
Betbrokers, the first British wholesale and retail betting brokerage has published creditable maiden results after its listing on the London exchange last year, showcasing commission income of over GBP 1 million from some 30 000 transactions. The company raised GBP2.5 million when it floated on the Alternative Investment Market last year and has net cash on hand of GBP2.1million at year's end.
Betbroker's preliminary report for the 12 months to 31 December 2006 includes the following highlights:
* Commission revenues of over GBP1 million in the first full year of trading.
* Over 30 000 deals matching GNBP28.5 million in betting transactions.
* During the year GBP375 000 invested into the BrokerBet 2 bespoke trading software now fully operational
* Successfully raised GBP2.5 million (before expenses) on admission to AIM on 1 November 2006
* Net cash at year end GBP2.1 million (2005: GBP1.3 million)
Commenting on the results, Wayne Lochner, Chairman and Chief Executive of Betbrokers plc, said: "2006 has been an exciting year for the company, a year of strong growth coupled with the successful IPO on AIM in November.
"The sports betting industry is growing strongly with Betbrokers benefiting from this and building on its 'first mover' advantage by offering a unique proposition that we believe will change the dynamics of the industry for the better.
"2007 will be another year of significant growth for Betbrokers and I am confident that our innovative and targeted marketing activities will further drive client acquisition. We have a firm strategy in place to take the Company to the next stage of its development and look forward to sharing our future success with shareholders."
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