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Bet At Home Releases Quarterly Results

Online betting firm Bet At Home has released its first quarter 2012 financial results, highlighting an increase in revenue but revealing a decrease in company revenues,

Key financial indicators for the first quarter ending March 31st were:

  • Group result before taxes of €2.10 million (Q1/2011: €3.90 million)

  • Turnover increased significantly by 23.5% to €527.68 million (Q1/2011: €427.19 million)

  • Group EBITDA of €1.94 million (Q1/2011: €3.84 million)

  • An increase in gross gaming revenue (Hold) of 15.4% to €21.11 million (Q1/2011: €18.29 million)

  • Net gaming revenue (Hold minus Betting / Gaming Tax) rose by 15.9% to €18.85 million (Q1/2011: €16.26 million)

  • Betting taxes amounted to €2.27 million (Q1/2011: €2.02 million)

The company's decrease in revenue was attributed to its increase in advertising expenses, which were €11.09 million. While this decreased income for the quarter, it also has led to a 39.3% increase in the company's customer base.

Currently Bet At Home has 2.8 million registered customers.

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