Betbull Holding SE announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net gaming revenue of EUR 3.5 million for the quarter down 2.8% compared to EUR 3.6 million a year ago. EBITDA was EUR 0.2 million for the quarter down EUR 0.3 million compared to EUR 0.5 million a year ago. Adjusted EBITDA was EUR 0.3 million for the quarter down EUR 0.2 million against EUR 0.5 million a year ago. Profit for the quarter was EUR 0.1 million down EUR 0.1 million compared to profit of EUR 0.2 million a year ago. EBIT was EUR 133,696 against EUR 373,684 a year ago. Profit before tax was EUR 146,958 against EUR 379,425 a year ago. Despite the increase in turnover, net gaming revenue derived from betting decreased slightly due to high winnings by customers in January.