Interwetten Reports Notable Increase In Revenue For 2016Published July 20, 2016 by Vlad G
Interwetten reported a significant increase in revenue after the first six month of 2016, almost doubling revenue from sportbooking products and increasing online casino revenues by 40%.
Interwetten, one of the biggest gaming operators in the industry registered a significant increase in revenue this last quarter and a huge overall growth since 2014. The multi-channel gaming giant reported an increase of 29 per cent for half-yearly gross revenue which came in at €32.8 million.
This Summer's Sporting Events Helped Increase Revenue
This summer biggest sporting event, the UEFA 2016 European Championship also played a part in the company’s financial performance with revenue during the competition increasing by 35 per cent when compared to the Brazil FIFA World Cup that took place just two years ago.
According to the company’s report, sports betting increased by 93% when compared with figures from the same month in 2015 while casino revenue increased by 40% when compared to data from the same time period.
EBITDA (earnings before interest, taxes, depreciation, amortization) for the first six months of 2016 was up by 13 per cent reaching an impressive €6.7 million while net profit rose 13 per cent to an equally strong €5.7 million.
Werner Becher, spokesperson for the Malta based gambling company declared that the company reaped the rewards of increasing their marketing spend both before and during the Euro 2016, by also increasing their profits. Mr. Becher also added that the increase in profit is the best indicator of the company’s strategic success performance.
Another reason for Interwetten’s strong revenue increase is their mobile network’s solid performance for the month of June. The company’s mobile sportsbook products made up 63% of all sports betting revenue while mobile casinos made up 43% of all casino gaming revenue.
Interwetten Is One of the Gambling Industry's Major Players
Interwetten and some of their biggest products, IW Casino and Interwetten Casino offer one of the most extensive gaming options on the internet today with over 800 desktop games and 400 mobile games designed by leading software developers.