FLUXX presented its results for 2005 showing a 24 per cent rise in revenue up to EUR 22.0 million and earnings almost doubled up to EUR 1.7 million.
“We are aiming to improve even further on the clearly double-digit growth in sales last year and the disproportionately high increase in earnings from our core business,” declared Stefan Hänel, Finance Director of FLUXX.
“We are resolutely looking to the future. Because the European market for lottery and betting is experiencing something of an upheaval, offering us outstanding prospects for the future development of our company. Over the past year, we made extensive preparations to equip ourselves ideally for this higher rate of growth,” he added.
The Management Board of the company expects that it will be possible to double sales in 2006 through the new business areas of over-the-counter lottery sales and sports betting.
At the start of this year, FLUXX took over the Maltese sports betting provider myBet.com and few weeks ago the jaxx.com website went live with its sport betting offering.
“As the leading online agent for the state sports betting service Oddset, we can initially be content with the ruling, because private operators will still have only restricted access to the market,” said Stefan Hänel commenting on the recent ruling of the Federal Constitutional Court on the German sports betting market.
“We will continue with our own foreign-based bookmaking activities as before, and moreover exploit the forthcoming opening of the German sports betting market on the basis of the current European legal position. The prospects of greater liberalisation in Germany after 2007 remain unchanged,” he added.
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