Gzira, Malta-based online betting and casino operator Interwetten posted information about its financial performance for the second quarter and the first half of the year ended June 30, 2016.
Gross gaming revenue amounted to €16.9 million in the second quarter of the year. Revenue for the six months ended June 30 increased 29% to reach €32.8 million.
With the first half of the UEFA Euro 2016 taking part within the reported periods, the company paid special attention to its performance during the football tournament in its latest financial report. Revenue during Euro 2016 rose 35% as compared to the figure reported for the FIFA World Cup 2014. Here it is important to note that there were 64 games played during the World Championship. In comparison, 51 games included in the UEFA Euro 2016 schedule.
Revenue from sports betting options was up 93% as compared to the figure reported for the same month of 2015. Online casino offering was up 40% year-on-year in June 2016.
The company pointed out that its excellent performance in June could be attributed to a great extent to its mobile offering. Revenue from mobile sportsbook products accounted for 63% of the overall sports betting turnover. Mobile casino games contributed 43% to the overall casino gaming revenue reported for the previous month.
The online gambling operator has recently launched its Interwetten LIVE live score app. The product has already been downloaded by thousands of customers and is expected to further enhance the company’s mobile business.
EBITDA amounted to €6.7 million during the six months ended June 30, 2016, up 13% year-on-year. Net profit also increased 13% to reach €5.7 million during the period in review.
Commenting on the latest figures reported, Werner Becher, spokesperson for the operator’s Board of Directors, said that he is happy and proud to see their sustainable growth strategy work so well. Mr. Becher pointed to the fact that Interwetten increased marketing spend prior to and during the UEFA Euro 2016 but managed at the same time to achieve a rise in profits, which is indicative of strategic success regarding “team and product performance.”
Over the past several months, Interwetten has expanded its casino offering by adding titles by popular providers Elk Studios, Playson, Yggdrasil, and Quickspin. At present, the operator offers more than 800 desktop and 400 mobile gaming titles.
