The online sports betting and gaming group's results for the first quarter ended 31 October 2011 also revealed amounts wagered up 35% to £693.7m with 40% of NGR from regulated territories and a further 18% from territories where the group is paying tax ahead of expected regulation Andrew McIver, Group Chief Executive, commenting on the results: "With Total Revenue in the first quarter up 17% to £59.9m, Sportingbet is in robust health due to our geographically diversified business model and quality sportsbook offer.

With the acquisition of Centrebet in Australia and the disposal of our Turkish Language website, we are making good progress towards our goal of deriving the majority of our revenues from regulated territories. The early signs from our enlarged Australian business are very encouraging and we look forward to making further progress there during the coming year. "While trading in the eurozone territories remains subdued, we welcome regulation in this key market and the greater certainty it brings to our revenues."

At 9:53am: (LON:SBT) Sportingbet share price was +0.63p at 31.63p

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