Francis Gerard French, Chief Executive of Ubet2win, revealed that operating at UK racecourses has become more difficult and costly as more and more business of the large bookmakers is traded through betting exchanges rather than through the racecourse betting ring.
Ubet2win announced disappointing half year results. The racecourse and online betting operator reported a loss of £310,000 on total turnover of £1,362,000.
On April 2006, the company launched the Ubet2win online sportsbook and is now preparing to add a casino to its online offering which also includes a poker room powered by Victor Chandler.
Commenting on the results CEO Gerry French said: “The results for the first half of our financial year reflect the fact that we are a developing company and that costs have been incurred which though not showing an immediate benefit places us in a position to further develop the business of the company.”
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