bet-at-home posts +50% increase for 2014 earnings

Franz Ömer bet-at-home Founder

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 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


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