Internet betting firm Bet-At-Home has released its financial results for the first half of 2013, noting that revenues dropped for the period due to a number of factors.
Key financial indicators for the period ending June 30th, 2013 were:
Gross gaming revenue (Hold) of €41.49 million (H1/2012: €42.11 million), down 1.5%.
Net gaming revenue amounted to €35.97 million (H1/2012: €38.24 million).
Group result before taxes was €7.39 million (H1/2012: Euro -3.34 million).
Betting and gaming turnover of €909.70 million (H1/2012: €1,089.15 million).
Group EBITDA amounted to €7.25 million (Group EBITDA H1/2012: Euro -3.39 million).
Group annual net income amounted to €4.79 million (Group annual net loss H1/2012: Euro -3.52 million).
Cash, cash equivalents and marketable securities amounted to €25.80 million as at 30 June 2013 (31 December 2012: €39.60 million).
The lower results were attributed to the closure of businesses that Bet-At-Home found to be unprofitable, a German sportsbetting tax that was introduced, and the lack of the European Football Championship which took place during the same period last year.