Casino drives Interwetten Q3 revenues up 23%
German-facing firm pledges major marketing push in core markets during 2017
Interwetten has reported a 23% rise in Q3 revenues to 16.9m following a strong quarter from the operator’s casino and gaming arm.
The vertical grew 42% year-on-year for the three month period from July to September, while sports betting revenues also increased 9%.
The German-facing firm blamed a late start to the football season due to Euro 2016 for its relatively muted sports growth.
It did not specify what percentage of revenue each vertical accounted for.
Overall revenues for the first nine months of the year increased 27% to 49.9m, while EBITDA was up 18% to 11.1m. The company generated net profits of 9.6m.
“Based on the Q3 KPIs it is also very likely that we will meet our internal target and break through the 1bn turnover threshold,” said Werner Becher, Interwetten’s CEO.
“For sure 2016 will go down as the most successful year in the company’s history. It is particularly satisfying to see that we managed to sustain the verve created by Euro 2016 and carry it forward into the new football season.”
The Malta-headquartered brand also offered an outlook on 2017, pledging to strongly increase marketing spend in its core markets of German-speaking countries and Spain and Greece.
It also revealed plans to enter a new as-yet unknown market, with “heavy investment” planned in establishing a “significant TV presence”.