Bet-at-Home reports 35% annual revenue increase

The French online gambling group Mangas Gaming's Bet-at-Home internet casino and sports betting subsidiary reports that its Q1/2010 gross earnings have reached €13.8 million, a 35% rise on the comparable period in 2009.

Profit before tax rose 38% to €2.6 million while it held assets worth €25.4 million at the end of March, an 18% year-on-year increase.

Management revealed that turnover was up by just over 76% year-on-year to €314.5 million with gross gaming revenues growing by 54% compared to the first quarter of 2009 to €13.8 million.

"With increased marketing expenses of €6.7 million in the first quarter of 2010, a rise of 8.9% in comparison to first quarter of 2009, a further strengthening of the brand has been reached in many European countries, with the number of registered users reaching 1.9 million," Management reported.

"Due to excellent revenue development, EBITDA significantly increased from €250,000 for the first quarter of 2009 to €2.61 million for the first quarter of 2010."

Source: InfoPowa News