Good Full Year Results From Centrebet

Published: Friday, August 31, 2007 Online-Casinos.com

GOOD FULL YEAR RESULTS FROM CENTREBET

More focus on retaining customers at Australian group

The Australian bookmaker Centrebet.com has released its full year figures to the end of June 2007, revealing an impressive 26 percent growth in revenues to A$58.9 million (2006: A$47 million). Pre-tax profits rose to A$12.5 million from A$2.million in 2006. Net profit after tax hit A$11.8 million - slightly up on the forecasts.

EBITDA numbers showed a rise of 45 percent to A$14.5 million over the corresponding period last year, and as the 2008 year for the company gets into gear the directors are confident of growth in the 10 to 15 percent bracket.

Increased wagering turnover pushed wagering revenues up by 17 percent from A$40.2 million to A$47.1 million.

Centrebet's casino and poker revenues were especially strong, rising by a significant 85 percent to A$11.86 million made up of A$7.1 million on casinos and 4.7 million on poker, an achievement made all the more remarkable due to the third party technical problems the company went through prior to its switch to the Orbis-Openbet platform in May 2007.

Marketing spend was A$7.4, with A$1.5 being devoted to the retention of existing clients, generating A$4.8 million in incremental revenue.

The Board noted a significant improvement in earnings, margins and profitability.