Betfair Revenues Up, Profits Down

Online gaming company, Betfair, reported annual revenues up 30 percent, thanks to its new online casino and the re-launch of its poker room after leaving the Cryptologic network.  Revenues clocked in at £182 million. 

While the earnings resulting from those revenues rose 26 percent to £48 million, one-off investment costs of close to £12 million caused pre-tax profits to drop almost a third to £25.3 million. 

Betfair says it has topped the one million customer mark.  Active users at the end of April were up 57 percent from the previous year to 443,300.