Betbull plc ('Betbull') announces the release of group consolidated audited financial statements

 
Betbull Plc / Final Results 
 
Release of a Corporate News, transmitted by DGAP - a company of EquityStory 
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Betbull plc ('Betbull') announces the release of group consolidated audited 
financial statements 
 
1. Financial highlights for the year 
 
- Betbull reports improved operating and EBITDA margins in 2007.  
- EBITDA for the year was €0.03 m compared to €(0.91) m in 2006. While 
operating loss was reduced to €(1.26) m from €(1.97) m in 2006.  Before 
share benefit charges adjusted EBITDA for the year was €0.15 m compared to 
€(0.27) m in 2006. 
- Gross gaming revenue amounted to €78 m in 2007 (€89 m 2006) while net 
gaming revenue reached €13.32 m (€14.95 m 2006) 
- Loss after tax amounted to €1.91 m in 2007 (€ 2.57 m 2006) resulting in 
€0.22 loss per share (€0.35 2006) 
- Betbull maintains a healthy Cash Position of €7.70 m as of 31 December 
2007 (€ 8.00 m 31 December 2006). 
 
Expenditures include start up costs incurred in new business development, 
particularly in Spain. 
 
 
2. Business highlights for the year 
 
Germany:  Germany has continued to provide strong revenue to the group in 
the face of difficult legislative circumstances. 
 
Spain: The JV agreement with Grupo Orenes for operating retail betting in 
the Province of Madrid, has been replaced by a JV agreement with bwin 
Interactive Entertainment AG. A subsidiary company (Betbull Bwin Espana SA) 
has been created, and has been able to submit a license application to the 
Autonomous Community of Madrid. 
 
Italy: Betbull is continuing to cautiously explore business development 
opportunities, in addition to exploiting the four licences awarded in the 
previous period. 
 
Online: The product offering and performance has been improved on the 
Primebet platform, which offers a solid online option to existing retail 
customers. Casino and games will be added in 2008 and will also be 
available to customers on the Betbull betting exchange platform. Further 
enhancements to the Primebet website are currently being implemented with 
the intention to provide an integrated platform for all the Group’s online 
offerings, including the re-launched corporate website. 
 
Other countries: During 2007 Betbull pursued agreements with a number of 
agents in European jurisdictions, where Betbull would supply software and 
bookmaking expertise on a revenue sharing basis. Revenue is expected from 
these relationships in 2008. 
 
Regulatory Update: Betbull is encouraged by the continued determination of 
the European Court to contest monopolies in the gaming sector. Whilst the 
situation in Germany remains unresolved, resulting in difficult trading 
conditions, Betbull has been able to maintain a healthy business. 
 
Spain continues to lead the way in deregulation of the betting sector, with 
the expectation that further Autonomous Communities will legislate for the 
award of betting licenses in 2008. 
 
 
Commenting on today’s release Simon Bold, Director of Betbull plc, said:  
'I am pleased with the resilience our German operation has shown to the 
unresolved regulatory situation that prevails since the ratifying of the 
German Gaming State Treaty and I look forward to the ECJ ruling, which I 
believe will have a very positive effect for Betbull.  We continued to 
operate a successful business in Germany and will strive to develop further 
in anticipation of liberalisation in the future. 
In Spain we are one of the major gaming companies to apply for retail 
betting licences in the Autonomous Region of Madrid, whilst the award of 
those licences is taking longer than expected, we believe the potential of 
this venture is immense. We understand that further licences will be 
available in other Autonomous Regions of Spain  during the next 12 months 
and Betbull intends to take advantage of such opportunities. ' 
 
 
 
Contact 
 
David De Marco, Group Finance Director 
 
d.demarco@betbull.com 
Phone +356 21494443 
Fax +356 21480132 
 
Betbull plc 
15 Fetter Lane, 
London EC4A 1JP 
United Kingdom 
 
Betbull plc is registered in England & Wales under the Registration Number 
05044730. 
 
This communication can be downloaded from the website www.betbullplc.com. 
 
 
About Betbull 
 
Betbull's goal is to establish itself as one of the leading Continental 
European retail bookmakers.  The Betbull group holds bookmaking licences in 
the UK, Austria, Italy, and Malta. 
 
The high caliber management team (Simon Bold,  David De Marco, Alexander 
Leip, and Günter Schmid) has a strong track record in the betting industry 
with relevant bookmaking experience and know-how including sector specific 
M&A expertise. 
 
Betbull has been listed on the Vienna Stock Exchange since October 2004 
('BETB', 'BETB.VI'). 
 
For further details please refer to the website www.betbullplc.com. 
01.04.2008  Financial News transmitted by DGAP 
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Language:     English 
Issuer:       Betbull Plc 
              15 Fetter Lane, (Bird & Bird) 
              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 
  
End of News                                     DGAP News-Service 
  
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