BETINTERNET BOOSTS WEBIS RESULTS

25 September 2009

Revenues up 20 percent
 

Webis Holdings has reported a 20 percent hike in annual revenues to GBP 140 million and a return to profit, thanks mainly to a sterling performance by online sportsbook subsidiary BetInternet.

The group posted a profit of GBP 452 000, a welcome reversal from a loss of GBP 347 000 in the previous year, and EBITDA up by GBP 542 000 to GBP 757 000 (FY 2008:GBP 215 000).

Betinternet achieved turnover of GBP 107.9 million - up 24 percent - thanks to increased marketing that included horse racing sponsorship activity. A new affiliate program helped boost customer acquisitions during the year, and improved in-running football betting facilities helped, too management said.

Group pari-mutuel subsidiary European Wagering Services (EWS), saw revenues grow by 6 percent to GBP 32.3 million.

“Although the gaming sector will never be completely immune to these [recession] external influences, it remains resilient, as it is able to offer alternative forms of entertainment for customers who choose to 'stay at home' more often than previously,” said Webis managing director Garry Knowles.   

Online Casino News Courtesy of Infopowa

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