Bet-at-home Delivers Impressive Fy2013 Earnings
By Casinomeister, Last updated Mar 7, 2014
Despite no significant sporting events and continued impact of sports betting tax
Betclic Everest Group-owned online sports betting and gaming operator Bet-At-Home has reported what it describes as "continued success" reporting a 600 percent increase in full year 2013 earnings.
Despite the continued impact of the German sports betting tax, an increase in marketing efficiencies and a substantial expansion of its customer base have contributed towards the strengthening of the brand, a company spokesperson said.
Key performance indicators for full year 2013 include:
– EBITDA up to Euro 15 million, Euro 13.2 million more than 2012 (2012: Euro 1.8 million)
– EBIT increased by Euro 13.1 million to Euro 14.3 million (2012: Euro 1.2 million)
– Gross betting and gaming revenue was Euro 85.6 million, up 0.2 percent over the same period last year (2012: Euro 85.5 million)
– Earnings before Tax EBT amounted to Euro 15.4 million and was Euro 13.1 million more compared to the previous year.
– Gross betting and revenue was Euro 85.6 million, 0.2 percent up from 2012 (2012: Euro 85.5 million).
– Gaming volume amounted to Euro 1,834.8 million (2012: Euro 2,039.8 million), 10.0 percent below 2012 due to the higher volume during the European Football Championship in Poland and the Ukraine.
– Sports betting tax introduced in Germany in July 2012 increased to Euro 11 million (2012: Euro 9.9 million) having an impact on net gaming revenue which amounted to Euro 74.7 million (2012: Euro 75.5 million).
– Marketing expenses amounted to Euro 34.3 million (2012: Euro 50 million), down 31.5 percent.
– 3.6 million registered customers.
– Operating expenses down 3.8 percent to Euro 14.2 million (2012: Euro 14.7 million).
– Group equity as of December 31, 2013 increased to Euro 44.6 million (2012: Euro 34.3 million), which resulted in an increased Group equity ratio of 64.5 percent (2012: 64.2 percent) despite the dividend payout in the second quarter of 2013.
– Cash and cash equivalents and marketable securities of Euro 23.2 million (2012: Euro 39.6 million).
Online Casino News Courtesy of Infopowa
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The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
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