Cost effective bet-at-home maintains positive earnings momentum despite revenue & wagers downturn

first_img bet-at-home maintains 2020 outlook despite dire opening  May 4, 2020 Share Static bet-at-home performance outdone by tax settlement charges  March 9, 2020 StumbleUpon Share Related Articles Publishing its Q1 trading update (period ending 31 March), Frankfurt Xetra-listed online bookmaker bet-at-home AG, details an earnings effective trading period despite a decrease recorded in corporate wagers and revenues.Updating the market, bet-at-home reports an 11% decline in gross betting and gaming revenues to €33 million (Q1 2017: €37 million).The bookmaker notes a period decline in wagers to the €733 million mark (Q1 2017: €840 million), as bet-at-home continues to be impacted by Polish market restrictions on foreign operators.Adjusting to tougher regulatory conditions, bet-at-home governance continues to make progress on its cost reductions program.The Frankfurt enterprise reports that it was able to halve marketing costs to €7.7 million during the period (Q1 2017: €14.9 million). As well as reducing its operating expenses to €4.9 million (Q1 2017: €5.6 million).The effective reductions would see bet-at-home governance declare a period corporate EBITDA of EUR 9.3 million (Q1 2017: EUR 5.0 million).Closing its Q1 2018 update, bet-at-home governance informs its stakeholders that it is confident of the firm’s outlook, targeting full-year 2018 revenues of €150 million combined with group EBITDA of in between €36-40 million range.Entering a crucial summer trading period, bet-at-home.com will expand its marketing initiatives for the FIFA World Cup Russia 2018 during June and July. Scandal underlines OVWG calls for end of gambling monopoly November 22, 2019 Submitlast_img

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