PRELIMINARY RESULTS FOR THE YEAR ENDED 28 MAY 2006

betinternet.com plc, the global on-line gaming group, today announces preliminary results for the year ended 28 May 2006

Highlights are:

  1. Group turnover decreased to £67.6m (2005: £93.7m) due to the cessation in International Players Association activity as announced in January 2005
  2. Sportsbook turnover rose to £57.5m (2005: £47.9m)
  3. Pari-mutuel turnover shows continued signs of growth after last year’s setback
  4. Administration expenses reduced 13.9% on “like for like” basis
  5. Group loss of £1.9m maintained as last year
  6. New sportsbook platform launched May 2006
  7. Enhanced platform with diversity of sports, casinos and games
  8. EBITDA profit achieved in April and May 2006
  9. Continued support of principal shareholder

Commenting on the results, Denham Eke, chairman of betinternet.com, said: “We have made considerable and encouraging progress towards our stated aim of having a compelling and exciting one-stop entertainment website for the fixed-odds business. I am confident that this will be the boost that is required to bring sustainable profitability in the coming financial year.

“We can also expect a continued strong profitable performance from our pari-mutuel business, European Wagering Services, as it builds on the growth and success that we have seen during the last six months.”

Notes to editors:
The following are attached:

  • Chairman’s Statement
  • Operational Review
  • Consolidated Profit & Loss
  • Consolidated Balance Sheets
  • Consolidated Cash Flow Statements
  • Notes to the Accounts

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