The board of European sports betting operator Interwetten has labelled 2016 as a ‘remarkable year’ for its business and operations, as the company eyes aggressive future growth within its new and established markets.
Presenting its full-year trading results, Interwetten governance detailed that group wagering turnover had increased by 29% to €1.2 billion as the company outperformed its expected 2016 performance metrics.
A higher wagering activity translated to a group ‘Gross Gaming Revenue’ (GGR) of €68.4 million up 23% on FY 2015 results.
Detailing operational highlights, Interwetten governance stated that the firm’s continued momentum was testament of its corporate strategy emphasising ‘sustainable growth in areas of high profitability’.
Despite increased spending on 2016 marketing initiatives which included high visibility campaigns during Euro 2016, Interwetten was able to maintain a full-year EBITDA of circa 24.7%.
Issuing a note to investors, the Interwetten board commented on 2016 performance We are very happy and proud, that our strategy of strongly investing in our unique sportsbook and platform, which is completely developed in-house and independent of third party suppliers, is strongly honored by online betting and gaming customers in Continental Europe.”
Entering 2017, the company now aims to establish itself in the ‘top 5’ online gambling firms servicing European betting consumers. The Interwetten board is confident in its goal following significant revenue growth in the regions of Spain (up 11% ) and Greece (up 108%).