GBI Racing, which broadcasts British and Irish racing to betting shops and online operators in more than 40 countries, has reported a record performance for the first half of 2015. Preliminary results for the six months up to June 30, 2015 showed an operating profit of £6.5m, up £0.6m up on the same period in 2014.
Factors behind the uplift include:
- The renewal of the Tabcorp agreement has led to extended betting hours and increased coverage, which now makes Australia GBI’s largest single market
- Israel continues to post significant growth. Two years on from a standing start, GBI Racing is shown in 340 shops and is prevalent on mobile and online platforms
- South Africa and Turkey have posted increased turnover on British and Irish racing
- US is posting solid growth across all customers, including increased mobile penetration
- Hong Kong’s turnover on Investec Derby day and Royal Ascot was 25% up on 2014
Nurturing core established markets is essential to growing GBI Racing revenues, as is opening up new territories. There are several important new business opportunities in 2015, including:
- Launch in Hungary via Hungarian Racehorse Betting (300 shops) in March with plans to commingle and commence mobile and online service later this year
- Launch of Tote (commingling service) in Trinidad in March via the Arima Race Club (eight shops and one racecourse)
- Launch of Tote (commingling service) in Andalucía, Spain, in June via the Apuesta Hípica y Deportiva Iberia (initial target of 40 shops by January 2016)
- Significant progress is being made to launch in territories such as Azerbaijan, Poland and Russia
Richard Brooke, Chairman of GBI Racing, commented: “We are pleased to announce a strong first half result for GBI Racing.
“GBI Racing has invested in extra resources this year and enjoyed closer working relationships with each territory. New features, such as on-screen Tote prices and Time-form graphics, have increased customer engagement and betting. Forty-eight-hour declarations remain absolutely pivotal as they allow overseas racing jurisdictions time to print and market racecards, and therefore provide extended betting opportunities. As we look to increase further the overseas revenues for British racing, we will continue to work closely with our stakeholders on field sizes and race timings.”