March 12th, 2012

The online betting company Betfair released their third quarter financial results, with revenues being boosted by the Australian Open tennis tournament. During the third quarter Betfair saw an 11% increase in revenue with the Australian Open playing a major role in the revenue growth, as their customers placed more than £50 million in bets.

Betfair Acting CEO Stephen Morana said in a statement that “We had our best ever Australian Open, which culminated in almost £50 million of bets being placed in the final.” Betfair’s revenue of £85.3 million beat the projected Reuters forecast of £84.8 million. On Tuesday Betfair also announced that company founder Ed Wray would step aside as Chairman and would be replaced by Gerald Corbett.

Written by: Petter

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