Webis profits from Betinternet performance
A strong peformance from its Betinternet sportsbook helped Webis Holdings post a 20% year-on-year increase in turnover to £140m for the year ended 31 May 2009, from £117m the previous year.
A strong peformance from its Betinternet sportsbook helped Webis Holdings post a 20% year-on-year increase in turnover to £140m for the year ended 31 May 2009, from £117m the previous year.
The group also broke back into profit during the period, recording a profit of £452,000, compared to a loss of £347,000 the previous year, and earnings before interest, tax, debt and amortisation (EBITDA) increased by £542,000 to £757,000, from £215,000.
Turnover from the Betinternet sportsbook rose by 24% to £107.9m, from £86.8m in 2008, which the company attributed to increased marketing spend, particularly sponsorships at tier-one UK racetracks including Ascot, Newmarket and Sandown Park, and the positive impact on customer acquisition of a new affiliates scheme launched in November 2008.
A further contributory factor to the sportsbook portal’s growth over the period was provided by an enhanced in-running football offering, said the company.
Revenue from its pari-mutuel operation, European Wagering Services (EWS), grew by 6% to £32.3m, from £30.4m the previous year, income growing across call centre, internet and B2B revenue streams.
Webis managing director Garry Knowles (pictured) said the company achieving these figures in an economic downturn also reflected the strength of the sector relative to other industries.
“Although the gaming sector will never be completely immune to these external influences, it remains resilient, as it is able to offer alternative forms of entertainment for customers who choose to ‘stay at home’ more often than previously,” said Knowles.