BetBull Releases Q3 Numbers

The company formerly known as Betbull plc, which is now Betbull Holding SE recently released their financial statements for the third quarter of the year. Their unaudited financial statements ended on September 30, 2008 and give full disclosure to their 9 months in the online casino world. Some of their highlights include an increase of 28 percent over this time last year in their betting stakes, which brings them to Euro 74.0 million. Their gaming revenue was also up 19 percent this year to an impressive Euro 11.7 million. The online casino did however have some downs, they were down Euro 600,000 because of EBITDA, which does include their merger with the Spanish company Bwin. Their venture in Madrid also had some ups, they were total cash they had at the end of September was 9.2 million, which means they were up Euro 1.2 million.

The company had a turnover of 74 million which leaves them at a steady percentage of 28. The online casino’s management has reported that their business is growing because they are being offered as a complimentary product for some of their clients in the retail world. Betbull has officially set its sights for Spain and Germany because they are very profitable markets for online casinos. They are so certain that business in those two countries will take off that they are shelving other projects in order to put full focus on this portion of their business. They feel like these two regions will provide huge opportunities for them and will pursue any and all resources that they are able to get their hands on in that area.

The director of the online casino company has said of their year, "Betbull achieved a solid trading result in the 9 months to 30 September; this has been distorted somewhat by the group's investment in the Spanish market through the Joint Venture company BBE, whose financial results are fully consolidated into the foregoing accounts.” Then he added how their online casinos will prosper in their new targeted areas, "The company continues to operate a tight financial control and closely monitor costs. The concentration of resources on just 2 regions, Germany and Spain will help to streamline the company and we will curtail operations not associated with these core areas during the coming months."