Confident it will break through the Euro 1 billion turnover threshold by years end
In a brief third quarter 2016 report, Malta-headquartered online gaming company Interwetten reported strong growth across all verticals, with an emphasis on online casino revenues.
Key performance highlights for the three month period ending September 30, 2016 included group revenues of Euro 16.9 million, an increase of 23 percent. Sports betting revenue grew 9 percent and online casino 42 percent. Revenues, over the nine month period, have increased 27 percent to Euro 49.9 million.
EBITDA is up 18 percent to Euro 11.1 million during the first three quarters of 2016, whereas Net-Profit increased by 18 percent to Euro 9.6 million.
"Based on the Q3-KPIs it is also very likely that we will meet our internal target and break through the 1 billion Euro turnover threshold," Werner Becher for Interwetten said.
"For sure, like with previous years, 2016 will go down as the most successful year in the company's history. It is particularly satisfying to see that we managed to sustain the verve created by Euro 2016 and carry it forward into new football season."
The company intends significantly increasing marketing spend within its core markets of Germany, Spain and Greece as it navigates 2017 along with a concerted push into one other core market with an extensive brand campaign.
Online Casino News Courtesy of Infopowa