Increased marketing costs attached to Euro 2016 have seen Frankfurt-listed European sports betting operator bet-at-home AG post a 42% decline in corporate earnings to €9.6 million (H1 2015: €16.5 million) for its H1 2016 results (period ending 30 June).
Detailing period expenditure, bet-at-home governance specified that the company had spent €26.6 million (H1 2015: €15 million) on advertising its brand in core markets launching a targeted multi-channel campaign.
bet-at-home governance detailed that its sharp increase in marketing expenditure was needed in order to register new customers during a key period for European sports betting operators. The increased marketing outlay would contribute to the bet-at-home brand securing circa 4.5 million registered customers during the H1 period, which bet-at-home governance detailed would help the operator maintain full-year 2016 revenue and earnings targets.
bet-at-home AG H1 2016 performance overview
Its augmented marketing strategy, would see bet-at-home declare H1 2016 corporate revenues of €65 million up 15% on corresponding H1 2015 revenues of €56 million.
Following a period of increased marketing activity, bet-at-home governance maintains its corporate outlook that the company will record approximately €30 million in earnings for full-year fiscal 2016.