Betfair mobile revenues up 94pc


6 Sep 2011

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Betfair Group plc has reported a decline in revenues to £80.8m (€91.9m) for the three months to 31 July.

This is a decrease of 7pc compared to the same period last year.

However, the online betting exchange company reported strong mobile growth, with 7.4m mobile bets placed in the quarter, an increase of 94pc. This boosted mobile revenues by £4.2m.

Betfair chief executive David Yu said: “Overall, sports revenue was impacted, however, by lower revenue from our risk products due to adverse sporting results in May as previously reported”.

Yu said the firm remained “comfortable” with the outlook for FY12, despite uncertain economic conditions.

Photo: Betfair chief executive David Yu

Article courtesy of Businessandleadership.com

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