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Bet-at-home has best ever quarter despite lack of major sports event

Published

8 years ago

August 1, 2017

Zoltan Tundik

Reading Time: < 1 minute

German online gambling operator Bet-at-home had its best ever quarter despite the lack of a major sporting event to spur betting activity.

Figures released Monday show French operator Betclic Everest Group’s Dusseldorf-based Bet-at-home subsidiary’s total betting and gaming revenue in the first six months of 2017 hitting €76.8m, a rise of 17.5% from the same period last year. Betting accounted for €34.5m of the H1 total, with eGaming (casino, poker, etc.) contributing €42.3m.

The Frankfurt-listed Bet-at-home’s earnings hit €17.4m in H1, nearly twice the €9m earned in H1 2016. Revenue and earnings in the second quarter totaled €39.6m and €12.4m, respectively, each of which represent new quarterly records for the company. Investors reacted by pushing the company’s shares 4% higher on Monday.

The lack of a major sporting event like the Euro 2016 football tournament or last summer’s Olympic Games in Brazil should typically have resulted in a decline in betting activity, yet Bet-at-home’s betting and gaming turnover through the first half of 2017 was up nearly one-quarter to €1.37b.

The turnover rise was even more impressive given that Bet-at-home’s H1 marketing budget fell €2.4m to €24.2m in the first half of the year. The company hailed its customer acquisition and retention measures, which resulted in 4.7m registered customers as of June 30, a 200k improvement over the same point last year.

Based on its favorable H1 figures, Bet-at-home is projecting full-year 2017 betting and gaming revenue to hit €144m, while earnings are expected to land somewhere between €34m and €38m.

Bet-at-home is currently sitting on liquid assets and current securities worth €77.8m, down from €91.8m as of December 31, 2016, due in part to the full repayment of a €21m loan to the company’s main shareholder.

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Zoltan Tundik

Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.