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DGAP-News: Betbull Holding SE, formerly betbull plc, ('Betbull') announces the release of group consolidated financial statements for the half year ended 30th June 2010

Betbull Holding SE / Half Year Results

01.09.2010 09:20

Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement.

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betbull Holding SE, formerly betbull plc, ('Betbull') announces the release of group consolidated financial statements for the half year ended 30th June 2010

1. Financial highlights for the half year to 30th June 2010

- Betting stakes of EUR 41.4m for the half year down 7% compared to EUR 44.3m in HY1 2009.

- Net gaming revenue of EUR 8.3m for the half year up 38% compared to EUR 6.0m in HY1 2009.

- EBITDA (including the Spanish operations) of EUR 0.2m for the half year up EUR 1.5m compared to EUR (1.3)m in HY1 2009.

- Cash (position including Spanish operations) as at 30 June 2010 of EUR 5.5m compared to EUR 4.8m as at 31 December 2009 and 5.7m in HY1 2009.

- EBITDA (excluding the Spanish operations) of EUR 0.9m for the half year and cash position as at 30 June 2010 also excluding the Spanish operations of EUR 4.6m.

2. Business highlights for the half year to 30th June 2010

Germany The first 6 months of 2010 produced an impressive performance from a reduced number of operating units compared to the same period 2009, yielding a gross hold margin of 23% or EUR 9.2m on betting stakes of EUR 39.9m.

Spain Early trading in the newly opened premises produced a turnover of EUR 1.5m and a gross hold 19% or EUR 0.28m in the first 6 months of 2010. New locations in Madrid are being negotiated, both own and agency units, applications for licences in other autonomous communities are in progress. Growth is solid and in line with expectations.

Commenting on today's release, Simon Bold director of Betbull Holding SE said:

'We have significantly improved on performance in this period compared to 2009, net gaming revenue is up by 38% to EUR 8.3m, EBITDA is up by EUR 1.5m to EUR 0.2m.The group improved its cash position in the first 6 months to finish the period with EUR 5.5, up from EUR 4.8m at the end of December 2009.

Overall it is a very solid trading result particularly from our core German business. The Spanish business is starting to gain momentum and there is a clear indication that the business model is sustainable.'

Betbull Holding SE Consolidated Income Statement

For the half year ended 30 June 2010 2010 2009 (6 months) (6 months) EUR EUR Betting stakes 41,393,632 44,270,849 Customer winnings (31,954,765) (37,099,288) --------------------------- Gross hold 9,438,867 7,171,561 Other gaming income 1,120,837 625,306 Commissions to third party agents and bonuses (2,274,986) (1,771,782) --------------------------- Net gaming revenue 8,284,718 6,025,085 Other operating income 79,053 164,057 --------------------------- Total income 8,363,771 6,189,142 Direct costs and betting taxes (1,599,989) (1,228,385) --------------------------- Gross profit 6,763,782 4,960,757 Personnel costs (3,425,805) (3,311,698) Cost of premises (1,842,649) (1,508,785) Mobility and distribution costs (349,815) (345,906) Other operating costs (956,102) (1,052,741) Valuation adjustments - (1,520) --------------------------- EBITDA and before share benefit charge 189,411 (1,259,893) Share benefit charge (54,460) (58,898) --------------------------- EBITDA 134,951 (1,318,791) Depreciation & amortisation of investments (493,968) (497,133) --------------------------- EBIT (359,017) (1,815,924) Financial result (48,672) (122,169) --------------------------- (Loss)/Profit before tax (407,689) (1,938,093) Taxation (620,946) (51,668) --------------------------- (Loss)/Profit after tax (1,028,635) (1,989,761) --------------------------- Attributable to - Equity holders of the parent - (1,469,768) - Minority interest - (519,993) --------------------------- - (1,989,761) ---------------------------

Betbull Holding SE Consolidated balance sheet As at 30 June 2010

2010 2009 EUR EUR Goodwill, intangible assets and investments 16,257,881 17,723,493 Fixed assets 2,047,332 1,939,037 Non-current assets 334,475 281,704 Current assets 3,746,017 4,228,707 Cash and cash equivalents 5,522,828 5,741,524 -------------------------- Total assets 27,908,533 29,914,465 -------------------------- Equity 34,058,130 29,496,781 Losses (16,612,668) (11,348,753) Reserves 5,558,089 5,368,232 Current liabilities 4,904,982 3,541,785 Minority interest - (1,478,210) Long term liabilities - Shareholder's convertible loan - 2,240,000 - Loan to Betbull Bwin Espana SA - 2,094,630 -------------------------- Total equity and liabilities 27,908,533 29,914,465 --------------------------

Contact

David De Marco, Group Finance Director

d.demarco@betbull.com Phone +356 21494443 Fax +356 21480132

betbull Holding SE 15 Fetter Lane, London EC4A 1JP United Kingdom

Betbull Holding SE (formerly betbull plc) is registered in England & Wales under the Registration Number SE12 (formerly 05044730).

This communication can be downloaded from the website www.betbullse.com.

About betbull:

betbull is an established provider of gaming centred retail entertainment, based in London. betbull offers its customers principally horse and sports betting at licensed betting shops, complemented by slot machines, internet betting and sports bars. betbull accepts bets based on licences in England and Wales, Malta and Germany, and is also licensed in Madrid, Spain. In Germany, betbull products are available above all under the 'Wettenleip' brand. In Madrid, Spain, the launch of the retail brand 'w1nners' is to be piloted following the granting of a licence. betbull itself has been quoted on the Third Market of the Vienna Stock Exchange since October 2004 (ISIN AT0000615331) and was established as a joint venture between Fun Technologies Plc and bwin Interactive Entertainment AG. For detailed information on betbull, visit www.betbullse.com.

01.09.2010 09:20 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Betbull Holding SE 15 Fetter Lane EC4A 1JP London Großbritannien Phone: +356 21480131 Fax: +356 21480132 E-mail: info@betbull.com Internet: www.betbullplc.com ISIN: AT0000615331 WKN: A0DKM0 Listed: Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt; Foreign Exchange(s) Wien (Dritter Markt (MTF) / Third Market (MTF)) End of News DGAP News-Service ---------------------------------------------------------------------------