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NEWS 25 October 2016

Interwetten looks for new markets after 2016 growth

By Dhanum Nursigadoo
Online casino and sportsbook operator Interwetten updated the market on its 2016 commercial performance, ending 30 September. The European operator has reported a revenue increase of 27% to €49.9m.

Strong consecutive quarterly performance for the year so far has Interwetten governance hopeful that the company will be able to break through to €1 billion turnover.

Interwetten has produced a net profit of €9.6m, up 18% from last year, for its year to date 2016 performance and EBITDA is up 18% to €11.1m. This was aided by revenue from its casino & games offering rising up by 42% between July and September.

Revenue supports CEO Werner Becher’s expectations for the operator to achieve its 2016 targets, commenting: “For sure, like with previous years, 2016 will go down as the most successful year in the company’s history. It is particularly satisfying to see that we managed to sustain the verve created by Euro 2016 and carry it forward into new football season.”

Interwetten updated the market on its 2017 plans, a strong focus on increasing its current marketing spend in its existing core markets of Greece and Spain as well as German speaking countries. It’s also preparing to invest in an additional core market by establishing a significant TV presence.

RELATED TAGS: Online | Sports Betting | Financial | Casino
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