08-06-2007 Betinternet achieves profitability at EBITDA level

The Isle of Man-based online gambling group provided a trading update for the financial year ended 27 May 2007 showing an overall improvement in performance and a considerable advance on the previous year.

The sportsbook continued to benefit from the new website launched in June 2006 and from an increased number of football leagues and markets on offer, especially Asian Handicaps.

Betinternet said it intends to offer betting on UK horseracing within the next two months and to further develop its pari-mutuel website link2bet.com, while it continues to seek appropriate business partners for its white-label service as well as complementary acquisitions.

Managing Director Garry Knowles commented: "I am pleased that we have been able to achieve an EBITDA profit for the full year, despite it being a challenging time for the gaming industry. We continue to make good progress and I fully expect that the changes that the Company has introduced during this period, combined with the continual customer-focused development of both the sportsbook and pari-mutuel websites, will see the Company make further improvement in the forthcoming year."