Positive trading update from online sports betting operator Sportingbet.
Sportingbet, the online betting firm, has reported a 34 per cent increase in third-quarter operating profits.The company said that earnings for the three-month period to April 30th were £9.8 million, compared with £7.3 million the year before, while the fourth quarter has also started encouragingly.
So far, its gross gaming revenue is up 19 per cent on last year's level despite the domestic football season coming to an end.
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The firm, which takes the majority of its revenue from football betting but also operates casino games and an online poker room, said that it is "cautiously optimistic" about the full-year outcome.
Earlier this year, Sportingbet signed a deal to become the main shirt sponsor of Wolverhampton Wanderers FC from June 2009.
The West Midlands club will be playing in the Premier League next season after winning promotion from the Championship with a first-place finish this year.
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