Betting exchange Betfair, which employs 100 people in Dublin, said yesterday that third-quarter revenue dipped 4 per cent to just over £90.5 million (€103.7 million) from £93.8 million during the comparable period last year.
Betfair released an interim management statement covering the three months to January 31st, which covered the period during which it quit a number of European markets in a row over regulation.
The company said yesterday the move hit revenue in the exchange element of its business, which was down 6 per cent overall.
However, revenue in other divisions, including its recently launched sportsbook, was up.
The refusal of some EU countries to clarify regulation for on-line, or even conventional, betting has been the cause of a considerable headache for Betfair and some of its peers for some time. Consequently, it has pulled back to regions where the rules are clear.
The company, led by Irishman Breon Corcoran since last August, is sticking with its full-year guidance for revenue of between £370 million and £385 million, and earnings of £65 million to £70 million.
The exchange still accounted for more than £56 million in revenue during the period, while the sportsbook came to £7.5 million and gaming £18 million.
In common with other players in its sector, Betfair reported that about 50 per cent of its Irish and British customers accessed its site via mobile devices during the period.
Presumably a few of its customers will be using their smartphones and tablets a lot when they decamp to Cheltenham next week.
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