Bet-at-home H1 Earnings Jump 81% Despite Additional Tax Regime
Bet-at-home have reported an 81 percent earnings gain in the first half of 2015. Revenues rose by 6.9 % to €56.7 million in the first half of 2015. These figures were particularly impressive as last year they had the benefit of enjoying a boost from last year’s summer World Cup. Betting and gaming stakes rose 8.8% to €1.17 billion from the same period last year.
The benefits of not having the World Cup to promote include big savings in marketing expenses which fell from €9.4m to €5.8m. Registered customers increased by 8 percent to 4.1m. If those numbers were not enough to impress, Bet-at-home also achieved their improved results despite the additional €3.2m they had to fork out for the European Union’s new taxes on electronic services which came into play on Jan 01. Given their performance in the first half, Bet-at-home say they are on track to reach €25m for their fully year earnings if the tax and legal framework remain unchanged.