France Pari returns to full-year profit
French sports betting operator posts EBITDA of 0.5m after a 42% revenue rise
Major growth in mobile sports betting revenues helped France Pari return to profit in 2014, an event president Hervé Schlosser has described as a “major turning point” for the company.
The French sports betting operator recorded full-year EBITDA of 0.5m, up from a 0.2m loss the previous year, following a 42% year-on-year rise in revenues to 5.7m.
Schlosser praised the company’s overall performance and said France Pari now had plans to increase its international presence through its B2B subsidiary SPORTNCO.
“Last year marked a major turning point for the company that demonstrates its ability to be profitable,” he said.
“In addition, and by strengthening our capital, which is more than half of our total balance sheet, the company will be able to have new funding levers to continue to accelerate its development internationally,” Schlosser added.
SPORTNCO is expected to sign new deals in Europe and Africa during 2015 and it is also preparing to launch a new range of native applications designed specifically for tablets.
The firm significantly ramped up its mobile capabilities last year, which it said accounted for the majority of revenue growth.
Next week France Pari will launch the first native sports betting application for Windows Phone in the French online gambling market.
The new product recently received approval form the French regulator ARJEL and will see France Pari become the first operator in France with mobile apps on iPhone, Android and Windows.