Online sports betting and casino gaming company ukbetting plc recently announced financial results for the 2004 fiscal year. The company reported considerable gains, fostered in part by the success of its online poker offerings. Revenues for online poker ventures alone rose 376 percent from the previous year.
More generally, overall turnover for 2004 was recorded as 57 percent, with gross profit increasing by 109 percent. Early records for 2005 showed ukbetting's good fortune to be far from waning. The first three months of 2005 pegged turnover for poker games and casino offerings at 138 percent.
Commenting on the company's financial successes, Peter Dubens, Chairman of ukbetting plc said, "I am delighted that after three and a half years of acquisition and integration, ukbetting has reached EBITDA profitability: a key inflection point in its development. The growth of broadband connectivity is transforming the face of online gaming, shifting the balance of gross win away from horseracing and football towards more visual, player-involving, skill-based poker, casino and games."
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