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Bet-at-home released third quarter financial results

Written By: Maya Michaels | November 15, 2012 | Posted In Poker News

Bet-at-home.com AG, an online gambling and sportsbook provider has published its financial results for the third quarter of 2012 indicating that it experienced an 11.3 percent year-on-year increase in gross gaming revenues to €20.12 million.

Part of BetClic Everest Group, Bet-at-home.com announced that net gaming profits for the 3 months to the end of September improved by 2.7 percent year-on-year to €16.88 million despite July’s introduction of a sportsbetting tax in Germany.

Additionally, Bet-at-home.com said that third-quarter earnings before interest, tax, depreciation and amortisation increased by twelve percent year-on-year to €1.03 million while earnings before tax swelled by 79.4 percent when compared with the same period in 2011 to €1.22 million.

All of this saw Bet-at-home.com report annual net income for the three months of €1.07 million, which it called ‘considerably higher’ than last year’s €350,000, despite declaring a net loss for the first nine month of 2012 of €2.45 million.

A statement from Bet-at-home.com read “Advertising expenses amounted to €10.12 million in the third quarter of 2012, third quarter of 2011 €10.55 million,”

“This confirms a significant increase in the efficiency of marketing activities particularly as gross gaming revenues increased by 11.3 percent in the third quarter of 2012 despite a reduction of 4.08 percent in marketing expenses in the same period compared with the third quarter of 2011.”

“In order to make optimum use of growth opportunities during the 2012 European Football Championships in Poland and the Ukraine, investments in marketing activities were intensified in the second quarter of 2012 in particular. Cumulative advertising expenses for the first three quarters of 2012 thus rose by 38.2 percent or €11.01 million to €39.86 million, first quarter to third quarter 2011 was €28.85 million. This also emphasises the clear commitment of Bet-at-home.com to maintaining its growth strategy.”

“The marketing activities undertaken included investments in the acquisition of new customers and the reactivation of existing customers, which contributed to further consolidation of the Bet-at-home.com brand. A combination of all these measures also led to another significant increase in our customer base. In the meantime, we now have over 3.1 million registered customers.”

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