Remarkable Growth from Sportingbet
June 4, 2009 (CAP Newswire) — Apparently, neither the stagnant world economy nor the inability to reach the U.S. market is enough to slow down London-based e-gaming powerhouse Sportingbet. The company has reported a stunning jump in profits; according to Reuters, the company’s third-quarter operating profit jumped 34 percent from £7.3 million to £9.8 million. According to MarketWatch, Sportingbet’s third-quarter net profit climbed more than 100 percent, from £3.4 million to £8.2 million.
Net gaming revenue for the company is also up significantly, as is the company’s fourth quarter performance, also according to MarketWatch.
Sportingbet is currently in talks with the U.S. Department of Justice over a possible resolution and/or settlement of “the historical issues associated with the group’s former U.S.-facing business,” writes Sarah Turner at MarketWatch. If PartyGaming’s example sets any precedent, a settlement with the U.S. authorities may cause an even greater jump in profits. That's good news for affiliates looking for a strong sportsbetting partner with whom to build traffic — a very real priority given that excitement is already building for next year's FIFA World Cup tournaments. Growth like this is great for branding, which in turn helps customer recognition and search engine performance.