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Betbull Reports Loss

Second quarter results for the online casino booking company show after tax losses. Surprisingly though, the results are still positive and show that the company is gaining strength. When compared to the second quarter results from 2006, the company is definitely showing a steady increase in revenue – even if they are still in the red, it’s less than previous years. Also, EBITDA figures are up in 2007 compared to dismal figures in 2006. The European online casino and betting markets are expanding in the recent year since the U.S. backed out of the market, and more companies are heavily saturating the European market with advertising.

The online casino company’s shift in focus from the U.S. market to the UK has had a strong impact on the increase in European bettors and gamblers. This is a positive trend for the more established online casinos bookies which are benefiting from the increase in traffic. The second quarter results (ending June 30, 2007) for Betbull.com show an after tax loss of Euro 500,000. Six month results for 2006 reported after tax losses of Euro 1.6 million.

The only really positive part of the second quarter report centered on the online casino betting company’s EBITDA. This year’s report showed Euro 300,000 compared to losses reported in the same period of 2006. The company’s 2006 reported EBITDA was a Euro 900,000 loss. So to that end the online casinos company did have one wholly positive part of the report.

Added to the positive aspects of the second quarter results for the online casino betting company is the company’s cash position. At Euro 8.8 million, 2007 second results are Euro 800,000 more than last year’s results.