Interwetten Asserts Profitability: Good 2016 Growth

Published October 30, 2016 by Lee R

Interwetten Asserts Profitability: Good 2016 Growth

Q3 has some encouraging figures from another internet gaming provider.

Online casino and sportsbook operator Interwetten’s strong performance for the quarter and year to date stands as yet another testament to the increasingly robust online gambling market.

Increased Growth Areas

Interwetten has shown increased growth in sports betting and casino and games businesses where revenue has increased year-on-year for the quarter ending September 30.

Year-on-year Jump

A total figure of €16.9 million ($18.4 million) for Q3 represents a 23% jump on the corresponding period from last year.

Individual Contributions

Sports betting revenue turned in a 9% jump year-on-year, with casino and gaming further contributing a whopping increase of 42%.

Cumulative Jump

The strong third-quarter showings all around pushed cumulative revenue for the year to €49.9 million for the first nine months, for a substantial 27% jump from the same point last year.

Net Profit Robust

Net profit for the three-quarters is now at €9.6 million, 18% ahead of last year, with further earnings before interest, tax, depreciation and amortisation having increased 18% year-on-year to €11.1 million.

Spokesman Bold

Speaking on behalf of the board of directors, Interwetten spokesman Werner Becher, predicted that the Q3-KPIs have the company on pace to meet internal targets and surpass the €1 billion turnover threshold.

Strategy

Looking ahead, Becher indicates focus on increasing marketing investment spend in existing core markets of Greece and Spain as well as German-speaking countries, along with establishing a significant TV presence.

Interwetten Impact

The adaptations are taking place according to the organisational strengths as well as resources identified in these target markets. In a world where global markets are opening up on a continual basis, Interwetten is showing a positive ability to sustain expansion through strategic networks and targeted expansion.

Outlook

The appearance of new names in the public eye is always a good sign for iGaming, as more iGaming providers become market forces to sustain global as well as domestic markets and regulation models.  

See also

Interwetten & Quickspin Join Forces for German-Speaking Players

Cherry Reports: Good Online Gaming Growth in 2014

GiGse 2015 Speaker Projects US iGaming Growth

NICEr and NICEr: ICE London Spurs Growth by Celebrating Genius

CryptoLogic Leads Gambling Growth


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