SBC News Voice of the Sports Betting Industry
Optimal Payments Group, published its interim 2014 H1 results, the online payment processing and provisions firm were able to report material increase in revenue and profitability.
For the first six months of 2014, Optimal Payments saw revenues increase 34% to $159.1m (H1 2013: $118.4m), Optimal supported its gain in revenues with improved Gross Margin of 55%, helping the payment operator report increase net profits of 91% to $27.4m (H1 2013: $14.4m).
The payments group reported EBITDA up 54% to $39.0m (H1 2013: $25.3m)
Optimal Payments senior management pointed to the groups strong marketing and partnership performance during the period, as a key driver. Optimal had seen an increase in customer acquisition and member conversions to its products.
Marketing was further supported by improved customer retention which saw an increase in average spend per user. Optimal Payments had seen record performance months during the 2014 FiFA World Cup in Brazil, the group would look to increase its brand and coverage in Football by agreeing a shirt sponsorship with Crystal Palace FC
Commenting on the results, Joel Leonoff, President & CEO, said:
“We are delighted with our first half results which show strong revenue and EBITDA growth from NETELLER and NETBANX. The acquisitions of Meritus and GMA in July satisfy our previously stated objectives to strengthen our presence in the US market and provides Optimal Payments with a springboard for strong North American growth. The attainment of Principal Membership status with Visa and MasterCard in Europe should help fortify our NETBANX business throughout Europe based on more competitive rates and a stronger offering. Our European version of NETELLER continues to demonstrate impressive growth while our US NETELLER release is gaining traction and is extremely well positioned to leverage off new US markets regulating and re-opening the doors for US based online gaming.”
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