Bet-at-home confirms revenue growth despite ‘new tax burden’

betathome-logobet-at-home has revealed that it was able to achieve significant year-on-year revenue growth during the 12 months through to December 31, 2015, despite having to contend with a “new tax burden”.

Full-year gross gaming revenue amounted to €121.6 million ($132.2 million), which represents a rise of 13.6% on the €107 million posted in the previous year.

The company also reported that earnings before tax increased 20% year-on-year from €27.5 million to €32.9 million, while earnings before interest, tax, depreciation and amortisation jumped from €26.7 million to €31.7 million.

The lack of a major sporting event in 2015 meant marketing expenses dropped by 11.2% to €36.5 million.

“In spite of a new tax burden, the development of revenue was significantly above the level that it was at during the same period in the previous year,” bet-at-home said in a statement.

“In terms of gross gaming revenues and earnings before taxes, the market-listed online sports betting and gaming provider managed to surpass the strong dynamics displayed in the previous quarters in the fourth quarter of 2015.

“With regard to the year 2015 as a whole, the company generated new peak values.”

source : www.igamingbusiness.com

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