3Q profitable

The latest statistics have shown that the third quarter of the fiscal year has been pretty good for the online gambling industry. In detail, several number of online casinos and betting sites are prospering surprisingly well even in spite of the slumping global economy. Let’s take an example of the Betbull that turned in the company’s financial statements for the third quarter and, in fact, almost every part of the statement had some positive aspects. In detail, not only net gaming revenues are higher but betting stakes have increased and as the company is one of a handful of online casino industry companies it is still doing very good. Not to mention the fact that the company has recently get into the Spanish market due to partnership with the Bwin.

Summing up, the Spain deal and the interest in Germany paying off Betbull’s expansion and maximum growth strategy really has turned to be profitable. In fact, the rapid expansion phase though seems to be paused for awhile as Betbull put its attention on the new licensing in Spain and seems to be really focused on making Betbull Bwin Espana (BBE) a leader in the both land and online betting industry in that country. In fact, already BBE was awarded one of Spain’s retail betting licenses. It is said that the revenue from that sector of the Spanish land and online casino gambling market will surely be an compliment for Betbull’s land and online interests in Germany.

In detail, as it was published, net gaming revenue for the quarter increased by 19 percent, and is said to be coming in Euro 11.7 million. Moreover, EBITDA is down a welcomed Euro 600,000 and the company is for sure very cash positive nowadays, about Euro 9.2 million in the fund is without a doubt enough to make investors happy with the third quarter results statement.