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Jaxx Set for Return to Profitability in 2010

1st April 2010 8:05 am GMT

Germany's Jaxx AG said Wednesday that higher revenues from sports betting and strong growth in the Spanish market helped the company to halve its annual loss in 2009, while ongoing restructuring efforts are expected to deliver seven-figure cost savings in the course of 2010 as it prepares to expand into newly liberalised European markets.

For the year ended December 31st 2009, Jaxx reported a 15% year-on-year increase in revenues to €114.5m, driven by a 30.4% increase [...]

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