Interwetten posts 29% leap in H1 revenues
Malta-licensed firm also reports increased mobile penetration on strength of new app
Interwetten has reported a 29% jump in H1 gross gaming revenues powered by an extensive marketing campaign during the Euros and a new mobile app.
Revenue for the first six months of the year totalled ?32.8m (?27.3m), with EBITDA growing at a slightly slower rate of 13% to ?6.7m.
Net profit was also up 13% to ?5.7m (?4.7m).
The company said much of its success stemmed from Euro 2016, thanks to targeted marketing campaigns before and during the tournament.
As a result, revenues during the event were up by 35% compared to the 2014 World Cup despite 20% fewer games. Compared to last year, sportsbook revenues in June 2016 were up 93% and revenues from casino and games 40%.
“I’m very happy and proud that our strategy of sustainable growth works so well,” said Werner Becher, spokesman for the Interwetten board of directors.
“Having increased our marketing spend before and during Euro 2016, we managed to increase our profits at the same time. For anyone managing a company, there is no better proof of strategic success in terms of team and product performance.”
The Malta-licenced operator also praised its new Interwetten Live score-tracking app which it said helped the mobile channel deliver 63% of sportsbook revenues and 46% of gaming revenues in June 2016.
Before the launch of the Live app, mobile accounted for 54% of sportsbook revenue.
The results continue a run of good financial results for the firm after it posted 31% growth in Q1 based on strong performances in Spain and Greece.