In 2016 QuinnBet was one of the companies to emerge from the rubble of the Sean Quinn Business empire that had fallen into bankruptcy amid massive losses caused by the global financial crisis.
Yesterday it announced pre-tax profits of €1.6 million from its trading in 2020, on turnover of €8.8 million.
That is in the ha’penny place alongside Paddy Power’s parent company Flutter but it is a solid return for a company which even after last year’s growth is still operated by just over 30 employees.
During the year it secured a UK Gambling Commission license and took in house the operation of the service which had previously been run on a white label basis by a company in Britain called FSB Technology that operates on a similar basis with major brands like Genting, familiar from the Aston Villa sponsorship, and Dafabet from Norwich City and Cricket Ireland partnerships.
QuinnBet itself is the main commercial partner of Bournemouth in the English Championship, where Robbie Brady really signed a new contract to get him back playing.
It is one of a myriad of companies operating in the online space with sportsbooks, casinos, lottery and gaming products. Immune from the hit taken in retail by the closure of physical betting premises, the business is nonetheless unlikely to hit the highs of its origin source of wealth but should still provide a nice income for the ownership of the business which is vested in the Quinn family.
It is run on a day to day basis by Sean Quinn’s son-in-law Stephen Kelly who stepped up to the role in 2019 having previously been the Finance Director.
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