Thursday, May 10,2012 : BET-AT-HOME DELIVERS QUARTERLY RESULTS
Making strides but held back by increased spend on advertising
Betclic Everest online subsidiary Bet-At-Home reported on its Q1-2012 results this week showing a significant increase in revenue but a decrease in income due to heavy investments in advertising.
Key Performance Indicators for the three months to March 31, 2012 include:
– Group result before taxes of Euro 2.10 million (Q1/2011: Euro 3.90 million)
– Turnover increased significantly by 23.5 percent to Euro 527.68 million (Q1/2011: Euro 427.19 million)
– Group EBITDA of Euro 1.94 million (Q1/2011: Euro 3.84 million)
– An increase in gross gaming revenue (Hold) of 15.4 percent to Euro 21.11 million (Q1/2011: Euro 18.29 million)
– Net gaming revenue (Hold minus Betting / Gaming Tax) rose by 15.9 percent to Euro 18.85 million (Q1/2011: Euro 16.26 million)
– Betting taxes amounted to Euro 2.27 million (Q1/2011: Euro 2.02 million).
Advertising expenses amounting to Euro 11.09 million (Q1/2011: Euro 7.96 million) had an adverse effect on income but is attributed to a 39.3 percent increase in customer base. The company has ramped up marketing in anticipation of the UEFA European Football Championships, the final tournament due between June 8 and July 1, 2012 which will be hosted by Poland and Ukraine.
Bet-At-Home boasts "notably more than 2.8 million registered customers".