bet-at-home reveals record earnings haul in third quarter

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bet-at-home has reported that record earnings before interest, tax, depreciation and amortisation (EBITDA) in the three months to September 30 helped boost the overall development of the business.

EBITDA during the third quarter amounted to €12.3 million ($13.6 million), the highest quarterly result in the history of the company.

As a result, EBITDA for the nine months to September 30 stands at €21.3 million, up from €22.1 million at the same point last year.

While earnings before interest and tax were down by €1 million to €20.5 million for the nine-month period, bet-at-home did report a 14.7% year-on-year rise in gross betting and gaming revenue to €100.4 million.

Net gaming and betting revenue was also up 13.5% to €81.8 million, when taking into account betting fees and gambling levies of €11.8 million, while VAT regulations on electronic service providers in the European Union resulted in an expense of €6.8 million.

In a statement, bet-at-home said: “In the first three quarters of 2016, the listed online sports betting and gaming provider continued its successful development and used targeted advertising campaigns relating to the European Football Championship in France to further increase the popularity of the brand in its core markets.

“From the current perspective, and assuming an unchanged regulatory and tax law environment, the management board assumes growth in gross betting and gaming revenue in the 2016 fiscal year of 10% to reach €134.0 million.

“The management board expects EBITDA to reach a level of about €30 million in the 2016 fiscal year.”

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