Thursday April 2,2015 : PROFITS AT LAST FOR FRANCE PARI
French sports betting operator's turnaround due to success of France-Pari.fr brand
The French online sports betting company France-Pari has halted its loss-making record to post EBITDA of Euro 500,000 and net profit of Euro 300,000 for 2014, reversing last year's full year loss of Euro 200,000.
Management reported online betting revenues at the France-Pari.fr were up 46 percent at Euro17.9 million, supported by the group's business-to-business operation Sportnco, which doubled its 2013 revenues to Euro 1.05 million.
Chief executive Hervé Schlosser described 2014 as an important milestone for the company, which has proved its viability with strong financials and a net equity above 52 percent of the balance sheet.
He predicted that the report would enable France-Pari to access additional funding to accelerate its international development.