Lm16m in turnover expected after first year

by David Kelleher

A Swedish-based online betting company expects to make a turnover of over £25m (Lm16.5m) in the first year of operations here in Malta.
Unibet.com (www.unibet.com), began operations in August, and will be officially opening its offices at the Plaza on Saturday.
A spokesman for the company’s advisers, Finco Trust Group of
Companies, told The Malta Business Weekly that Unibet were confident that the Maltese operation would be extremely successful and expected turnover to reach £25m after the first year.
“Unibet.com forecast a turnover of more than £25m in the first 12 months and considerably better this figure within five years,” the spokesman said.
Unibet.com was one of the first online betting companies to come to Malta and apply for a licence, which was granted in July.
To date, 25 persons have been employed with the company however Unibet is aiming for a total staff complement of 150. Most of the employees are Maltese but the risk managers are expatriates. The local general manager and chief accountant are Maltese.
The Swedish company aims to
operate using both a call centre as well as offering interactive sports betting over the Internet. Its plans for the call centre have hit a snag because the company is finding it very difficult to find trained and qualified staff, especially those having multiple language skills. Asked why Unibet.com choose Malta, a spokesman for the company said that at first they were quite
sceptical.
“They knew very little about Malta. The island was one of a myriad of possible locations. After visiting Malta in January of this year, they were surprised to find a clear, no-nonsense attitude at all levels. It did not take them long to realise that they could bank on the facilities offered here,” the spokesman said. Another factor was that as an offshore centre with reduced betting duties Malta had a much better image. “They were very much impressed by the fact that within nine months, they received a licence and were able to set up shop here,” the spokesman added.
Unibet, however, criticised the lack of trained technical people and those having good language skills and the pricing of services which have to be “more competitive”.
Unibet is an international betting operator with licences in the UK and in Malta. The company’s annual turnover is more than £30m and it currently employs 40 people.
It offers:
Tax-free singles betting on all events; 24h Internet betting; telephone support 10-22 CET seven days a week; an extensive range of sports with highly competitive prices; deposits through post, bank or credit cards – online or phone (VISA or MasterCard); payouts within three days.