Betfair, the major global online betting company which has its international headquarters in Sta Venera, has posted "record" results for the year to April 30: despite significant investment, Betfair has registered an adjusted EBITDA of £72 million, up 29 per cent from 2008, the company said last week.

Revenues have doubled over the last three years as an international expansion plan was implemented and new products launched. Active customers have risen by 150 per cent in the same period. Betfair's Malta team has grown from a 25 team to over 200 since 2006.

In the past financial year, international customers accounted for 49 per cent of total revenues, up from 44 per cent in the previous year.

"As our financial results show, the international side of the business contributed 49 per cent to our total revenue - at £148 million, this is an increase of £5 million from last year," Betfair's international public relations manager Richard Bloch told The Times Business.

"When we first started our international business in 2006, we had 25 members of staff and had just poker and casino licensed in Malta. We quickly outgrew our old Mosta offices and are now based in a state-of-the-art office building above Lidl in Sta Venera. We now have over 200 staff, employed, 85 of which are locally employed and our entire international operation is managed and run from this office."

Asked whether there were plans for further expansion of the Malta operation, Mr Bloch replied: "As our international side of the business continues to grow and be successful, so our operations and employment opportunities will continue to grow."

Up to April 30, Betfair saw revenue growth of 27 per cent to £303 million.

Betfair said a full calendar of sporting events and the customer confidence in the security of its ring-fenced funds attracted record numbers of users to its site.

Active users have increased by 25 per cent to 652,000. Betfair now holds £240 million of customer monies on deposit in ring-fenced accounts.

Thanks to ongoing investment in technology, Betfair is able to match an average 6.4 million transactions a day.

The company said strong profit and cash generation had left it debt-free, with £133 million in cash. Moreover, the $50 million acquisition of the TVG Network, the largest legal wagering business in the US, had given Betfair a market-leading position in legal online wagering and positioned it well to take advantage of legislative changes.

Betfair, which holds licences in the UK, Italy, Malta, Germany, Austria, the US and Australia, said it continues to work with governments across the world "to push for a regulated approach to the further liberalisation of gambling markets".

The Betfair group offers an international portfolio of gambling products and services, including a betting exchange, a concept the company pioneered and which it now provides in the UK and Australia. Other betting platforms, including a bookmaking operation, are provided from Malta. Betfair offers a range of gaming products from Malta, including exchange-enabled games. The group has 10 companies licensed or registered in Malta.

Chief financial officer Stephen Morana said Betfair was now well-positioned to take advantage of new opportunities, particularly in the US, and planning towards major sporting events like the World Cup next year.

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