Unibet Group plc: Change in accounting policy and restated quarterly tables for Unibet excl Kambi
STOCKHOLM--(BUSINESS WIRE)--Following the separation of Kambi, Unibet has completed a review of its accounting policy for the allocation of certain operational expenses between gross winnings revenue, cost of sales and operating expenses.
Unibet has compared its methods of accounting for costs such as product commissions and payment solutions with other leading European gambling operators and has performed a review of the contracts with key suppliers to determine the appropriate accounting treatment.
The changes in classification as a result of this change in accounting policy do not have any effect on Unibet’s previously reported EBITDA, profit from operations, or profit before and after tax, nor does it have any effect on the balance sheet or reported cash flows. Unibet has retrospectively restated the items affected by the reclassification.
Kambi results will be consolidated in Unibet’s result until 31 May 2014. Restated quarterly tables of results, including regional and product analysis for Unibet, excluding Kambi with further explanation, are available on www.unibetgroupplc.com and at the bottom of this email.
Unibet will publish Interim results for the second quarter 2014 on 6 August 2014.
Unibet was founded in 1997 and is an online gambling company listed on NASDAQ OMX Stockholm. Unibet is one of the largest listed gambling operators in the European market and provides services in 22 languages through www.unibet.com, www.unibet.dk, www.unibet.fr, www.unibet.it, www.unibet.be, www.unibet.ee, www.unibet.com.au, www.maria.com, www.mariacasino.ee and www.mariacasino.dk. Today, Unibet has 8.9 million customers in over 100 countries. Unibet is a member of the EGBA, European Gaming and Betting Association, RGA, Remote Gambling Association in the UK and is audited and certified by eCOGRA in relation to responsible and fair gaming.
More information about Unibet Group plc can be found on www.unibetgroupplc.com and twitter.com/UnibetGroup
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