Issuing a Q1 2016 (period ending 31 March) market update, Frankfurt Xetra-listed European sports betting operator bet-at-home AG recorded group revenues of €30 million up 6.4% on corresponding 2015’s €28.4 million.
Despite reporting an improved revenue performance for its 2016 opening, bet-at-home would declare an EBIT of €7.3 million (Q1 2015: €9.6 million).
The operator detailed that period marketing costs had been driven up to €8.8 million as bet-at-home agreed new sponsorship terms with Bundesliga football club Hertha Berlin BSC.
bet-at-home governance detailed that the sponsorship was part of its continued strategy of investing in improving operator’s brand recognition and visibility in key markets.
At the end of the first quarter of 2016, bet-at-home AG brands had more than 4.3 million registered customers (Q1 2015: 4.1 million). bet-at-home governance declared that it was pleased to maintain 2015 positive user metrics.
Detailing 2016 guidance, bet-at-home governance stated that its corporate targets remained unchanged at full-year 2016 revenues of €136 million with an EBITDA forecast of €30 million.