German Online Betting Operator Bet-At-Home Makes Profit Again

German online sports betting company Bet-At-Home again reported net profits in its third quarter results.

The BetClic Everest subsidiary attributes the success to the new successful marketing strategy that increased customer acquisition and loyalty.

Key Performance Indicators for the third fiscal quarter in 2012:

• Gross gaming revenue was up by 11.3 percent to EUR 20.12 million from EUR 18.07 million in Q3 2011.
• Net gaming revenue grew by 2.7 percent to EUR 16.88 million from EUR 16.43 million in Q3 2011, despite the news of a sports betting tax required by German gambling laws since July 1, 2012.
• Group revenue before tax grew by 79.4 percent to EUR 1.22 million from EUR 0.68 million in Q3 2011.
• Betting and online casino turnover was up by 8.7 percent to EUR 460.16 million from EUR 423.25 million in Q3 2011. Advertising expenses were down to EUR 10.12 million from EUR 10.55 million in Q3 2011.
• Group financial result is positive with EUR 0.34 million from the negative EUR -0.13 million in Q3 2011.
• Group result before taxes was up 79.4 percent EUR 1.22 million from EUR 0.68 million in Q3 2011. Group annual net income was reported up to EUR 1.07 million from EUR 0.35 million in Q3 2011.

Regarding the first nine months of 2012:

• Gross gaming revenue was up by 16.9 percent to EUR 62.23 million, group result before tax is still in the minus with EUR -2.12 million.
• Group financial result is, however, EUR 0.69 million, the group result before taxation is EUR -2.12 million.

Bet-At-Home still reports an annual net loss of EUR -2.45 million.