UK-based gambling operator NetPlay TV today reported its financial results for the first half of the year. Net revenue for the six months ended June 30, 2016 amounted to £14.7 million, up 15% from the £12.7 million generated during the same period of the previous year.
The company highlighted considerable contribution from its B2B business. Revenue from that particular division totaled £2.1 million during the six months ended June 30, 2016. Adjusted EBITDA from B2B operations amounted to £0.4 million.
Overall adjusted EBITDA was up 31% year-on-year to reach £1.7 million. Adjusted profit before tax totaled £1.4 million, reflecting a 30% increase from the prior-year period. During the first half of the year, the company reported profit before tax and total comprehensive income of £1 million. In comparison, the amount of £0.2 million was posted for the same six months of 2015.
The number of new depositing players increased 3% during the first half of the year to a total of 43,723. A 3% increase was also registered in the number of active depositing players. There were a total of 65,200 of them during the period in review compared to 63,411 in the first half of 2015.
During the period in review, NetPlay TV extended its existing broadcast partnership with ITV for a period of three years. Over this year’s first six months, the gambling operator also launched a number of products for both desktop and mobile, thus further enriching its catalog of product offering available to B2C customers. As for its B2B division, NetPlay TV noted that the business performed in a manner that exceeded original expectations.
Of his company’s financial performance in the first half of 2016, CEO Bjarke Larsen said that the results posted are indicative of the fact that NetPlay TV’s momentum from last year continued in the new year. The official further noted that they had adopted their new growth strategy early in 2016 and that they would continue being focused on delivering on it.
With the M&A activity within the online gambling sector, NetPlay TV is in a good position to pursue such opportunities, Mr. Larsen added. According to the executive, potential mergers and/or acquisitions will further enhance the company’s earnings.
