Respectable bet-at-home 9M/2013 results

Betclic Everest Group online sportsbetting and gaming provider Bet-At-Home said it was pleased with what it terms as strong gross gaming revenues despite the lack of a major sporting event during 2013.

Key performance indicators for the nine months ending September 30, 2013 include:

–     Pre-tax revenues up by Euro 13.7 million to Euro 11.6 million (9M/2012: -2.1 million)

–     Gross gaming revenue of Euro 61.8 million (9M/2012: Euro 62.2 million), down only 0.7 percent despite the lack of a significant sporting event

–     Net gaming revenue of Euro 53.7 million (9M/2012 Euro 55.1 million), impacted by the introduction of German sportsbetting taxes

–     EBITDA increased to Euro 11.1 million (9M/2012: Euro -2.4 million)

–     EBIT increased to Euro 10.7 million (9M/2012: Euro -2.8 million).

–     Gaming volume amounted to Euro 1,342.9 million (9M/2012: Euro 1,549.3), down 13.3 percent

–     Efficiency improvements in marketing and operating expenses:

–     Marketing expense amounted to Euro 24.8 million (9M/2012: Euro 39.9 million), equating to a 37.8 percent reduction

–     Operating expenses of Euro 9.6 million (9M/2012: Euro 9.6 million, down by 14.9 percent

–     Cash, cash equivalents and securities of Euro 25.7 million

–     Substantial expansion in customer base which stands at almost 3.5 million registered customers.

According to a company statement: “The steady development in gross revenue, the efficiency increases in marketing and the reduction in other expense show clear and positive results on the development of results of the bet-at-home.com AG Group during the reporting period”.

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