SBC News Voice of the Sports Betting Industry
Web Holdings operator of igaming brands betinternet.com and WatchandWager has published company performance results for its financial year which ended on May 31. The company posted positive figures for the period which saw year on year growth in wagering and net profited posted by the operator.
The report stated the following performance by Webis:
- Total Sales for financial year equaled – £168.6 million (€197.3 million/$269 million). Gross sales up £113.8 million the previous year, a posted increase of 48%
- Net assets grew by 424.4% from £590,000 to £3.1 million,
- Webis Holdings cash surplus also increased significantly by 131.1% to £2.59 million
- Webis Holdings further posted an operational profit of £355,000. The first profit increase the company has posted since 2009 reports.
Denham Eke Webis Holdings Chairman commented on his companys yearly performance ” The Board is pleased with the companies performance. we now have strong company balance sheets, and can look forward for opportunities in the sector.
“We have consistently achieved good advances within both of our gaming subsidiaries: WatchandWager.com Limited and betinternet.com Limited. This follows our continued enhancement of customer-facing website content and the recruitment of more experienced industry personnel.”
