The online betting group has provided a trading update for the year ended July 31, showing a growth in customer numbers combined with solid gambling margins and profits ahead of management expectations at £60.5m.
Sportingbet\’s poker sites continued to perform well and early indications from the recently introduced shared purse were encouraging.
“The global reach, the scalability of the business model and the diversified product offering are all working to provide solid organic growth in our business,” said Nigel Payne, Chief Executive of Sportingbet.
In addition, Sportingbet announced the acquisition of ISC Entertainment, owner of mysportsbook.com and worldwidegamble.com, for $33m in a cash and share deal, including an initial payment of $16.5m.
ISC generated turnover of approximately $90m in the twelve months to June 30, with an operating profit for the period of $6.7m.
“ISC is a high quality business and the acquisition is a strong addition to our existing US-facing brands. With almost no integration required and solid organic growth prospects, we look forward to developing ISC\’s brands within our industry leading portfolio,” said Payne.
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