bet-at-home Q3 reports record earnings

By Caroline Watson
bet-at-home has revealed a record earnings haul before interest, tax, depreciation and amortisation in the three months to September 30 which has helped to boost the overall development of the business.

The Austrian, German and Eastern European-facing operator saw gross gaming revenues for the 9 month rise nearly 15% to €100.4m. Net revenue after gaming taxes and VAT rose 13.5% to €81.8m.

In terms of product split, gaming accounted for just over 50% of total gross gaming revenues at €51.1m, while sport-betting generated €49.3m.

In a statement, bet-at-home says: “In the first three quarters of 2016, the listed online sports betting and gaming provider continued its successful development and used targeted advertising campaigns relating to the European Football Championships in France to further increase the popularity of the brand in its core markets.”

While earnings before interest and tax were down by €1m to €20.5m for the 9 month period, bet-at-home did report a 14.7& year-on-year rise in gross betting and gaming revenue to €100.4m.

Although the company did not divulge the number of active players, it said that at the end of the Q3 it had over 4.5m registered customers, up from 4.2m in the same quarter last year.

bet-at-home states: “From the current perspective, and assuming an unchanged regulatory and tax law environment, the management board assumes growth in gross betting and gaming revenue in the 2016 fiscal year of 10% reach to €134m. The management board expects EBITDA to reach a level of about €30m in the 2016 fiscal year.”

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