Interwetten "exceeds expectations" with 32% revenue jump

Interwetten said its performance in the first nine months of the year had “exceeded all expectations” after the Maltese operator’s Q3 revenue jumped by almost a third year-on-year.

Revenues for the three months ended 30 September stood at €11.8m after its sportsbook grew by a third year-on-year and its casino revenue climbed 30%.

Central to the group’s sportsbook performance was a €4m investment in marketing and bonusing, which the firm said had contributed towards the surge in Q3 revenue.

The performance took revenue for the first nine months of the year to €33m, 20% up on last year’s performance, and speaker of the board Werner Becher said the increase was a “very welcome surprise” for the operator.

Having previously said Interwetten was “homing in” on a return to markets it had previously withdrawn from, Becher also confirmed that plans had progressed and that the operator was now preparing to re-launch products in these markets, although refused to name them.

“Returning to these markets will prove to be an invaluable move for Interwetten in the future,” he added.

The firm also noted that its B2B business had attracted “growing interest” from a number of “notable international providers”, and that negotiations were ongoing with the firm eager to capitalise on what it has termed as a fragmenting European gaming market.