LONDON (SHARECAST) - Online gambling group Gaming Corporation today reported a massive increase in turnover and narrowing half year pre-tax losses and hinted at more acquisitions to come.
Losses before tax for the six months to 31 March narrowed to £52,000 from £386,000, while gross profit leapt to £718,000 from £261,000 last time. Turnover soared 80% to £9.9m.
Chief executive Justin Drummond said, “The performance of the business since the start of the year has exceeded expectations.”
“Route to market and customer acquisition is essential for any business and with the unprecedented growth of Casino.co.uk and our recent acquisition of Gambling.com, Gaming Corporation has consolidated its market leading position", he added.
The group also said Casino.co.uk is now the most visited UK gaming site, recording over 3m unique visitors in March this year from 150,000 in the same month in 2004.
Total number of visitors to all the company’s sites hit 4m in March, with profitability helped by a change in revenue model in January this year to ‘pay per click’.
In addition, chairman Jason Drummond paid 13.5p each for 350,000 shares costing a little over £47,000.
