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Betbull keeps its stable state
 June 10, 2008, 6:23 am (3 years ago)Compared to the last quarter of 2007, online sportsbetting company Betbull has announced that there was 9 percent increase to $5.8 million in NGR in the first quarter but has only managed to equal the numbers from Q1 2007.
The London-based company reported that losses after tax increased to $361 524 from last year’s $146 393. There was 40 percent drop to $462 668 on earnings before tax despite the a nine percent increase in betting stakes to $34.2 million quarter-on-quarter and an increase of 13 percent compared to the previous year.
The Betbull reported in a statement this week that operation of online casino would be launched during Q3 2008. The statement did not give detailed explanation about the software selected but the company announced that its joint venture with Bwin would soon acquire a retail betting license for the autonomous community of Madrid in Spain.
Simon Bold, Director of Betbull said, "Our German operation has exceeded expectations during what promised to be a very difficult first quarter. We find this very encouraging. In Spain, we continue to develop a structure to support not only retail units in Madrid when that licence is granted but also for the other major provinces where Betbull will compete for licenses in the near future. We see the Spanish market as an opportunity to extending our client base beyond the traditional betting shop customer profile."
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