Bet-at-home Pleased With Fy 2016 Performance

By Brian Cullingworth, Last updated Mar 10, 2017

Series of all-time-high's in latest fiscal report AG reported a robust full year 2016 performance in its latest fiscal report despite the impact of increased betting fees and levies.
Key performance highlights include a rise of 14 percent in gross betting and gaming revenue to Euro 138.7 million and a 3.5 percent increase in earnings before taxes of Euro 34.1 million.
EBITDA amounted to Euro 33.0 million, up Euro 1.3 million over its full year 2015 period while EBIT rose by Euro 1.1 million Euro 31.9 million (FY 2015: Euro 30.8 million).
Consolidated profit for 2016 increased to Euro 31.0 million (FY 2015: EUR 30.7 million).
Gaming volume amounted to Euro 2,926.2 million (FY 2015: EUR 2,410.8 million), a 21.4 rise over the previous full year period.
Stepping up its marketing strategy and spend during the European Football Championship in France resulted in a sustainable increase in registered customers, the company said, further strengthening the brand through international advertising campaigns which included TV spots, posters and online media as well as an extensive bonus campaign especially in the second and third quarter of 2016.
In 2016, total marketing costs amounted to Euro 44.0 million, a 20.6 percent increase over the previous year and a rise in registered customers of 300,000.
Wrapping up, AG Group reported liquid funds and securities at December 31, 2016 of Euro 91.8 million which contained Euro 26.0 million from repayments of the short-term loan issued to the majority shareholder of AG.
Looking ahead, gross betting and gaming revenue amounting to Euro 144 million in the 2017 fiscal year are expected along with EBITDA of between Euro 34 million and Euro 38 million.

Online Casino News Courtesy of Infopowa

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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