Sportingbet profits jump 30 percent

[The Buzz]

Internet gambling company Sportingbet said its first-quarter profit climbed 30 percent. The company said the jump in profits is thanks to an increase in European sales and also an increase in mobile betting.

From Bloomberg:

European sales from gambling on sports rose 12 percent to 295.4 million pounds, and the share of active customers using their mobile phones to gamble expanded to more than 7 percent in the region’s “largest geographic markets.”

[TheGooner]

Profits were just 1.5p per share this quarter - projecting to around 6p for the year.

The share price is bouncing around the 61p to 65p range - around 10x earnings and way below the 400p or so that the price was pre-UIGEA.

[EugeneK]

Profits were just 1.5p per share this quarter - projecting to around 6p for the year.

The share price is bouncing around the 61p to 65p range - around 10x earnings and way below the 400p or so that the price was pre-UIGEA.

so American market is the major one.

[davenewgates]

It only proves that mobile internet is really getting its way in the huge industry of online gambling.

[Anthony]

Good for sportingbet to post 30% profit increase, but as the Gooner pointed out, the actually numbers are a lot smaller than before.

The mobile market is growing. There was a large focus on mobile gaming at the Global Gaming Expo.

[JoeAdams]

Well, that a good news for Sporting Bet for being one of those who get first profited by mobile gaming.

[TravG]

Mobile is the future. I dont use it but many of my friends do - it is very convienent.