Betfair ‘on track’ after first-quarter results

iGaming Business – Betting exchange, online casino and sportsbook operator Betfair has insisted that it remains on track to meet full-year expectations after reporting a 13% fall in year-on-year revenue to £90.4 million (€107.2 million/$141.5 million) in the three months through to the end of July. The drop has been attributed to Betfair’s decision to pull out of Greece, Germany, Spain and Cyprus, with the company claiming that it is starting to benefit from cost-cutting measures and a focus on well-regulated betting markets such as Britain, Ireland, Denmark, Malta, Gibraltar and the United States. As an indication of Betfair’s improving…