betbull Holding SE, formerly betbull plc, ('betbull') announces the release of group consolidated financial statements for the nine months ended 30th September 2010

Betbull Holding SE  / Key word(s): Quarter Results

30.11.2010 20:00
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betbull Holding SE, formerly betbull plc, ('betbull') announces the release
of group consolidated financial statements for the nine months ended 30th
September 2010

Financial highlights for the nine months to 30th September 2010

  - Betting stakes of EUR 58.9m for the nine months down 7% compared to EUR
    63.1m in the same period last year.

  - Net gaming revenue of EUR 11.7m for the nine months up 28.6% compared
    to EUR 9.1m in the same period last year.

  - EBITDA (including the Spanish operations) of EUR (0.4)m for the nine
    months up EUR 1.6m compared to EUR (2.0)m in the same period last year.

  - Cash (position including Spanish operations) as at 30 September  2010
    of EUR 5.7m compared to EUR 4.8m as at 31 December 2009 and 4.9m as at
    30 September 2009.

  - EBITDA (excluding the Spanish operations) of EUR 1.2m for the nine
    months and cash position as at 30 September 2010 also excluding the
    Spanish operations of EUR 5.5m.

As announced on 15 October 2010 betbull has sold 100% of Winners Apuestas
SA (Winners), it's Spanish subsidiary, to bwin Interactive Entertainment
AG. betbull will now concentrate fully on its core business in Germany. The
sale will release betbull from the funding obligations required by Winners
and allow the already cash flow positive German business to expand and
develop under an eagerly awaited new legislation.

betbull Holding SE
Consolidated Income statement

For the nine months ended 30 September 2010
                                                          2010        2009
                                                     (9 months)  (9 months)
                                                           EUR         EUR
Betting stakes                                      58,887,949  63,097,569
Customer winnings                                  (45,716,746)(52,515,342)
Gross hold                                          13,171,203  10,582,227
Other gaming income                                  1,616,589   1,008,237
Commissions to third party agents and bonuses      (3,038,869) (2,537,222)
Net gaming revenue                                  11,748,923   9,053,242
Other operating income                                 111,438     211,695
Total income                                         11,860,361  9,264,937
Direct costs and betting taxes                     (2,359,524) (1,872,432)
Gross profit                                         9,500,837   7,392,505
Personnel costs                                    (5,065,891) (5,258,215)
Cost of premises                                   (2,463,891) (2,446,975)
Mobility and distribution costs                      (494,298)   (623,570)
Other operating costs                              (1,774,553)   (952,374)
Valuation adjustments                                    9,506         279
EBITDA and before share benefit charge               (288,290) (1,888,350)
Share benefit charge                                  (81,689)    (88,347)
EBITDA                                               (369,979) (1,976,697)
Depreciation & amortisation of investments           (721,333)   (773,862)
EBIT                                               (1,091,312) (2,750,559)
Financial result                                      (43,163)   (204,081)
(Loss)/Profit before tax                           (1,134,475) (2,954,640)
Taxation                                             (804,250)    (74,990)
(Loss)/Profit after tax                            (1,938,725) (3,029,630)
Attributable to  
-Equity holders of the parent  
-Minority interest
                                                             - (2,168,309)
                                                             -   (861,321)
                                                             - (3,029,630)




betbull Holding SE
Consolidated balance sheet
As at 30 September 2010

                                                      2010           2009
                                                       EUR            EUR
Goodwill, intangible assets and investments     16,316,025     18,335,734
Fixed assets                                     2,077,172      2,889,100
Non-current assets                                 284,475        281,704
Current assets                                   2,477,074      4,227,167
Cash and cash equivalents                        5,691,910      4,884,818
Total assets                                    26,846,656     30,618,523
Equity                                          34,144,752     29,496,781
Losses                                        (17,526,651)   (12,047,297)
Reserves                                         5,498,696      5,397,680
Current liabilities                              4,729,859      4,756,266
Minority interest                                        -    (1,819,537)
Long tern liabilities
Shareholder's convertible loan                           -      2,240,000
Loan to Betbull Bwin Espana SA                           -      2,594,630
Total equity and liabilities                    26,846,656     30,618,523




- ENDS -     

  
Contact

David De Marco.

d.demarco@betbull.com
Phone +356 21494443
Fax +356 21480132

betbull Holding SE
Mariahilfer Straße 116
1070 Vienna
Austria

betbull Holding SE (formerly betbull plc) is registered at the Commercial
Court of Vienna under the Company register Number FN 353397b (formerly
registered in England & Wales under the Registration Number SE12).

This communication can be downloaded from the website www.betbullse.com.

About betbull:

betbull is an established provider of gaming centred retail entertainment,
based in Vienna, Austria.  betbull offers its customers principally horse
and sport betting at licensed betting shops, complemented by slot machines,
internet betting and sport bars.  betbull accepts bets based on licences in
England and Wales, Malta and Germany.  In Germany, betbull products are
available above all under the 'Wettenleip' brand.  betbull itself has been
quoted on the Third Market of the Vienna Stock Exchange ('Other
Securities') since October 2004 (ISIN AT0000A0KPX9, formerly AT0000615331)
and was established as a joint venture between Fun Technologies Plc and
bwin Interactive Entertainment AG.  For detailed information on betbull,
visit www.betbullse.com.


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Language:     English
Company:      Betbull Holding SE
              15 Fetter Lane
              EC4A 1JP London
              Großbritannien
Phone:        +356 21480131
Fax:          +356 21480132
E-mail:       info@betbull.com
Internet:     www.betbullplc.com
ISIN:         AT0000615331
WKN:          A0DKM0
Listed:       Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt;
              Foreign Exchange(s) Wien (Dritter Markt (MTF) / Third Market
              (MTF))
 
End of Announcement                             DGAP News-Service
 
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