Good second quarter for JAXX

The German online gambling group Jaxx posted its Q2-2012 results this week, showcasing a 20 percent rise in net gaming revenues to Euro 15.62 million, and EBITDA well up at Euro 6.95 in the quarter.

Other highlights of the report included:

* H1-2012 NGR reached Euro 33.93 million – up 21 percent year-on-year thanks mainly to Euro 2012 football action

* Strong customer growth over the half year

* Earnings before interest and tax alone reached Euro 5.95 million.

* Consolidated earnings in the first half – in red ink at this time last year – were back in the black by Euro 6.53 million.

Management reported that the Euro 2012 football in Poland and the Ukraine had provided record betting stakes on the myBet online platforms and in the betting shops and led to a substantial increase in user numbers.

“The number of registered users rose by 56,000 to 959,000 in the second quarter. More than 23,000 customers on average per month placed a bet online during the second quarter and the figure reached 27,000 in June. In the comparable prior-year period the figure was just 16,000,” Management reported.

“Betting stakes rose by 66 percent in the second quarter to Euro 51.7 million. The hold was doubled to Euro 7.2 million due to better margins. In a six-month comparison, betting stakes grew by 49 percent to Euro 97.6 million while the hold rose by 62 percent to Euro 16.5 million.”

“After the first six months, myBet again achieved a break-even operating result despite the planned intensification of customer acquisition and higher dividend distributions.”

Looking ahead, Management predicted that the start of the European football league season is expected to boost the sports betting business, while experience of previous years indicates that particularly strong revenues and earnings growth can be expected in the fourth quarter.

MyBet’s Schleswig-Holstein sports betting licensing will also empower the subsidiary to boost its direct marketing effort, the company noted.

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