This has been a year of significant progress for the Group both in terms of financial performance and corporate developments. We have delivered a strong set of financial results with EBITDA increasing 11% to £51.4m. The benefits of operating across a broad geographical base were demonstrated with strong growth in our Emerging Markets division, Australia and some of our European territories, offsetting the economic weakness in Greece and Spain.
With the acquisition of Centrebet in Australia and the passing of regulations in two of our largest markets, Greece and Spain, Sportingbet is now well positioned to maximise the European opportunities available to it as the global online gaming market continues to develop and regulate.
Our overall strategy of providing a first class sports betting product offering customers an unprecedented number of betting opportunities at all times of the day, remains unchanged. This is underpinned by our proprietary best-in-class in:play offer, superb trading team and focus on giving customers what they want especially in new growth areas such as mobile.
The Group has had a solid start to the new financial year with NGR in the first two months 17% above the same period last year.
Sportingbet is one of the world's leading online gaming operators with divisions focused on Europe (which includes Emerging Markets in Africa and South America) and Australia. The European operation is based in the Channel Islands, operating under a licence provided by the Alderney Gambling Control Commission. This is supported by an operational centre in Dublin providing customer services and administrative support. The Group's Australian division is based in Darwin operating under a licence provided by the Northern Territory Government. In total the Group now employs over 600 people.
Betting on sports is at the heart of the Sportingbet business, accounting for 71% (2010: 69%) of Group gross gaming revenue. The growth in sports betting of 4.6% has primarily been driven by bets placed whilst the game is 'in:play', which accounts for 67% of European amounts wagered. Our in:play product has been growing strongly at 24% per annum over the last three years and with an in:play margin of 9.7% (2010: 9.3%), we continue to be the industry leader. In addition, in:play traded in 450 out of the 500 distinct football divisions we offered in 2010/11 and we currently trade between 800- 900 football matches in:play per week.