European sports betting operator bet-at-home AG reported improved yearly earnings of €17.9 million (£14 million) up 54% on 2013 earnings performance – €11.6 million (£9.10 million).
The operator’s improved financial performance had been driven by increased gross gaming revenues during the 9 month period, with bet-at-home reporting a revenue increase of 30.6% to €80.7 million (£62.8 million) Q1- Q3 2013 – 61.8 million.
The operator further reported that betting fees and gambling levies in the first 9 months of 2014, combined with the increase in gross betting and gaming revenue, were above the level of the same period of the previous year at € 9.4 million (Q1-Q3 2013: €8.1 million). As a result, net gaming revenue also increased to € 71.3 million (Q1-Q3 2013: € 53.7 million).
bet-at-home senior management stated that the operator had managed to sustain the positive momentum set by the 2014 FIFA World Cup. The operator had also undertaken a renewed international marketing strategy focusing on improved player market and retention.
The operator reported that it had increased its customer base to 3.9 million (2013 – 3.5 million), without increasing its operating spend which has remained level with 2013 figures.bet-at-home stated that it would continue to undertake its revised marketing and operational strategy which had proved effective at driving corporate revenues and earnings.
The operator has been granted a remote gambling licence by the UK Gambling Commission, one month after being named in a list of twenty operators approved by the Hesse Ministry to provide German online betting services.
Business news reports stated that bet-at-home’s share price rose to a 52 week high of €51.90 following its performance announcement.
bet-at-home Performance overview 2014 to date