Published Date:
22 January 2008
BETBROKERS, the broker and clearing house for the sports betting industry, said its average deal size rose 16.2 per cent in 2007, with the newly acquired Winning Edge adding $2.3 million (£1.2m) in revenue.
The average deal size for the company, which has a market cap of £6.94m, increased to £1,106 for 2007, while the number of transactions rose by 74.7 per cent to 52,352.
Traded volumes were up to £53.6m from £28.5m.
Betbrokers' retail client base expanded to 1,345 as at 31 December, 2007, from 519 a year earlier. The wholesale client base stood at 317, up from 213 at the end of 2006.
Chief executive Wayne Lochner said: "Winning Edge has proved to be an important addition to the group's comprehensive offering as seen by the record turnover since the acquisition. We are confident that Winning Edge will continue to perform in the future and believe that the group can benefit from the significant cross-selling opportunities that exist between our UK operations and Winning Edge."
Betbrokers completed the $6.5m purchase of Winning Edge, the Las Vegas-based sports information and tipping service, in September.
The full article contains 207 words and appears in The Scotsman newspaper.
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Last Updated:
21 January 2008 9:15 PM
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Source:
The Scotsman
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Location:
Edinburgh
