Interwetten Reports Rapid Growth

INTERWETTEN REPORTS RAPID GROWTH

27th January, 2015 at 14:17:31
Source: http://www.azonlinecasinos.com

Continued investment in mobile

In its 25th anniversary year, Malta-based gaming operator Interwetten reported better than expected growth in 2014 despite the company's exit from key markets including Belgium and Italy.

Key performance highlights for the 2014 fiscal year include:

- A rise in betting turnover of 15% to Euro 800 million

- Gross gaming revenue of Euro 46.3 million, an increase of 18 percent

- Net income of Euro 7.4 million, up 64 percent

- Revenue growth of 17% in the fourth quarter alone to Euro 11.4 million.

Werner Becher, chief executive officer of Interwetten, attributes the strong performance to an intelligent marketing mix and innovative mobile solutions.

Looking ahead, the company joined forces with an unnamed licensed provider to re-enter the Greek market in December 2014 while also planning the launch of a fully managed online platform for another unnamed leading operator due early February.

I am particularly pleased with the cooperation with the new B2B customers because this traditional terrestrial betting provider explicitly called for Interwetten as a B2B partner for the online area, because we are, in his opinion, the best online product on the market, Becher commented.

Interwetten will ramp up its marketing push in Spain with a new media mix and TV commercials. It further expects approval from the DGOJ to offer slot games on interwetten.es.

The German and Austrian markets will see an intensive push to grow Interwetten's presence via TV while consolidating its position as one of the top 5 providers in the German market.

"Although there is still no legal security in Germany in sight, I am every day more confident that Interwetten's long-term investments will provide great results in the long-term, Becher added.

Management is bullish on the company's prospects for 2015 forecasting a double-digit Euro million EBITDA.

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