Interwetten plots Sweden launch
Malta-licensed operator to enter its sixth market to help it rebound from sluggish H1 results
Interwetten has announced plans to launch in Sweden in September to help the firm rebound from a sluggish set of H1 results.
The firm reported a 3% rise in gross gaming revenues for the first six months of the year, as it suffered from punter-friendly results and the Euro 2016 comparison.
H1 GGR hit €33.m, with EBITDA flat at €6.6m.
The figures were dragged down by a 13% dip in sports revenues thanks to “extraordinarily punter friendly” results and a relatively quiet sporting calendar.
Excluding Euro 2016 revenues, sports turnover was up 11% in the first half of 2017 and gross gaming revenue only down 5%.
Gaming revenues ticked up by 26% at the same time
“In recent years, we were spoiled by constant double-digit growth rates,” said Werner Becher, spokesman for the Interwetten board of directors.
“Fortunately, the Interwetten Group is very profitable and we can easily cope with a number of bad margin months. On the other hand, I am convinced that not having met our expectations for H1 will give our team an extra kick to push even harder.”
The Malta-licensed sportsbook said it plans to enter the Swedish market in September, with two new TV adverts being prepared to back the launch.
Sweden will rank as the company’s sixth core market after Germany, Austria, Switzerland, Spain and Greece.