SBC News Voice of the Sports Betting Industry
Frankfurt Xetra-listed online betting operator bet-at-home AG has detailed a strong H1 2017 financial performance (period ending 30 June) with the company reporting significant gains across its core revenue and EBITDA metrics.
“In the first half of 2017, the listed online sports betting and gaming provider continued its successful development and could clearly outperform the dynamic growth of the previous reporting periods once again in the second quarter of 2017.” bet-at-home period statement detailed.
Presenting H1 2017 results, bet-at-home gross betting and gaming revenue amounted to EUR 76.8 million, up 17.5% on 2016’s comparable of H1 2016: EUR 65.4 million. The operator would detail its ‘best ever’ quarter performance for Q2 2017 which contributed group revenues of €40 million.
The firm’s strong revenue performance would see bet-at-home governance declare EBITDA of €17.4 million nearly doubling corresponding H1 2016’s EBITDA of €9 million.
During the period, bet-at-home governance was able to implement marketing efficiencies and cost savings due to the absence of a major summer football event. The bookmaker further detailed that individual player performance has been boosted by a new redefined customer acquisition and retention program.
As at 30 June 2017, the bet-at-home.com AG Group had more than 4.7 million registered customers (30.06.2016: 4.5 million).
Following a strong H1 2017 opening, bet-at-home governance detailed to investors that it was positive achieving its revenue increase to EUR 144 million for the fiscal year, combined with an EBITDA corporate range of €34-38 million.
