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Impressive Earnings for BetAt Home
Monday March 3,2014 : BET-AT-HOME DELIVERS IMPRESSIVE FY2013 EARNINGS
Despite no significant sporting events and continued impact of sports betting tax
Betclic Everest Group-owned online sports betting and gaming operator Bet-At-Home has reported what it describes as “continued success” reporting a 600 percent increase in full year 2013 earnings.
Despite the continued impact of the German sports betting tax, an increase in marketing efficiencies and a substantial expansion of its customer base have contributed towards the strengthening of the brand, a company spokesperson said.
Key performance indicators for full year 2013 include:
- EBITDA up to Euro 15 million, Euro 13.2 million more than 2012 (2012: Euro 1.8 million)
- EBIT increased by Euro 13.1 million to Euro 14.3 million (2012: Euro 1.2 million)
- Gross betting and gaming revenue was Euro 85.6 million, up 0.2 percent over the same period last year (2012: Euro 85.5 million)
- Earnings before Tax EBT amounted to Euro 15.4 million and was Euro 13.1 million more compared to the previous year.
- Gross betting and revenue was Euro 85.6 million, 0.2 percent up from 2012 (2012: Euro 85.5 million).
- Gaming volume amounted to Euro 1,834.8 million (2012: Euro 2,039.8 million), 10.0 percent below 2012 due to the higher volume during the European Football Championship in Poland and the Ukraine.
- Sports betting tax introduced in Germany in July 2012 increased to Euro 11 million (2012: Euro 9.9 million) having an impact on net gaming revenue which amounted to Euro 74.7 million (2012: Euro 75.5 million).
- Marketing expenses amounted to Euro 34.3 million (2012: Euro 50 million), down 31.5 percent.
- 3.6 million registered customers.
- Operating expenses down 3.8 percent to Euro 14.2 million (2012: Euro 14.7 million).
- Group equity as of December 31, 2013 increased to Euro 44.6 million (2012: Euro 34.3 million), which resulted in an increased Group equity ratio of 64.5 percent (2012: 64.2 percent) despite the dividend payout in the second quarter of 2013.
- Cash and cash equivalents and marketable securities of Euro 23.2 million (2012: Euro 39.6 million).
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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