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Redbet Restructuring Leads to SEK5.2m Annual Loss

1st March 2010 9:47 am GMT

Following a difficult 2009 during which the company installed a new management team and was forced to restate the previous year's earnings after identifying discrepancies in its reported income, Redbet Holding AB said Friday that it incurred a net loss of SEK5.2 million for 2009, down from a profit of SEK9.2 million a year ago.

Redbet recorded revenues of SEK100.1m for the year ended December 31st 2009, practically unchanged versus 2008, with net gaming revenues [...]

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