SportingBet Stock Increase

June 8, 2008

Even though two of their employees were just placed under arrest in Turkey, the online gambling company is doing well for itself. The bookmaker is reporting a third quarter profit as they watch an increase in their bets.

They have recently found that their European and Australian customers are placing larger bets and more of them. Their net income was 3.4 million pounds or $6.7 million. This is compared to a loss of 2.4 million pounds a year earlier.

It seems that the value of wagers increased 25%. They also added more customers in Europe and Asia which helped a lot when they lost all of their US customers. They had initially seen a decrease in their online gambling revenues but that has not turned around.

The company still takes bets from Turkey which could be part of the reason why they got into trouble and have had two of their personnel detained. But overall they say that the results of their financial figures just go to show that they are turning things around and that they have �regained positive momentum across the group.�

Overall, the company is very pleased with the way things have been going and expect next year to be even better. They are going to continue growing their offerings which will assist them in that growth � and they are not concerned with the Turkey situation as they are no stranger to jail cells.




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