Bet-at-home Delivers Impressive Fy2013 Earnings

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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