16/02/2001
On-line bookmaker Sportingbet.com unveiled its nine month figures to 31 December, which demonstrated a phenomenal growth in revenue accompanied by widening losses. Sales rocketed from £14.6m to £217.8m, although losses before tax widened from £3m to £4.4m. The three months to 31 December, which represent the busiest sports betting period of the year, showed sales lifting from £9.6m to £103.7m. £45m of those sales were achieved from organic operations with a £58.7m contribution coming from 'BetMaker', the Costa Rican-based sports betting company acquired last May which is now well and truly integrated under SportingbetUSA. Customer numbers and activity rose in all of the group's key markets. In the final quarter alone 8,009 new customers were attracted, increasing the group's total to 58,602. Furthermore, a 'Sportingbet.co.uk' site was unveiled and the board made inroads into the South American market via the launch of a Spanish language offering for SportingbetUSA. The company graduated from Ofex at the end of January, raising £18m on admission. Sportingbet.com recently agreed to honour the betting accounts of all Firststake.com customers who register with Sportingbet.com in return for access to its customer database.
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