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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 Bet-At-Home.com 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

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