bet-at-home cites ongoing investments as revenue hikes in Q1
Bet-at-home has highlighted the ongoing impact of its investment strategy as one of the main reason behind a year-on-year increase in revenue during the three months through to March 31, 2016.
Revenue in the first quarter amounted to €30.2 million ($34.7 million), up 6.4% on the €28.4 million posted in the corresponding period last year.
Although earnings before taxes fell 20.2% year-on-year to €7.9 million, the firm was able to increase its total workforce by 5.6% to 284,000 members of staff.
Bet-at-home also noted a decline in earnings before interest, tax, depreciation and amortisation (EBITDA), which fell from €9.6 million last year to €7.5 million in the most recent three-month period.
Marketing expenses increased in the opening three months of the year, with the €8.8 million spent 35.9% higher than the €6.5 million in the first quarter of 2015.
In a statement, the operator said: “From the current point of view, the management board assumes that if the regulatory and fiscal environment remains unchanged, the gross gaming revenue will increase by 10% and reach the level of €134 million in the 2016 financial year.
“For fiscal year 2016, the management board expects from a current perspective an EBITDA at the level of about €30 million.”
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