Timely mobile investment boosts Interwetten

Timely mobile investment boosts Interwetten

Thursday, October 30, 2014 Totally Gaming

Werner Becher, a spokesman for the Interwetten board of directors, has cited the impact of “significant and timely” investment in mobile products as a key driver behind the online gaming operator’s year-on-year revenue jump in the third quarter of 2014.

The company reported that revenue for the quarter amounted to €11.8m ($14.8m), an increase of about 23 per cent in comparison with last year. 

Revenue generated from Interwetten’s sports betting business in the third quarter was 33-per-cent higher than in the corresponding period last year while the firm's casino and games division also registered year-on-year revenue growth of 30 per cent.

The impressive third-quarter results place Interwetten’s revenue for the first nine months of 2014 at €33m, a total that is up 20 per cent on the same period last year and an amount that has exceeded the firm’s initial expectations.

Speaking to TotallyGaming.com about the results, Becher said that Interwetten plans to use this success as a catalyst to pursue further growth in the fourth quarter and beyond.

“Significant and timely investment in mobile products proved to be a clever move from Interwetten’s end prior to this summer’s Fifa World Cup,” Becher told TotallyGaming.com.

“Over 60 per cent of all bets on the tournament were placed using a smartphone, tablet or other mobile end-user device. Above all, however, the Interwetten mobile application has been incredibly well received by our customers.

“We realised at a very early stage that there would be a significant shift towards mobile technology and took the right strategic decisions that are bearing fruit today. 

“We increased the marketing and bonus budget for the football World Cup in Brazil by more than €4m and spent €1m for special world Cup bonuses. Nevertheless, the year-to-date net income at the end of Q3 was 41 percent higher than the figure for the previous year.”

Given Interwetten’s latest results, Becher is confident of further success in the coming months as the company returns to key markets.

“Based on an increased number of active customers and a noticeable higher level of turnover and revenue, we are very confident of delivering a remarkable track record also in the future,” he added.

“Interwetten is currently preparing to make a return to profitable markets from which the company was temporarily forced to withdraw for regulatory reasons. Returning to these markets will prove to be an invaluable move for Interwetten in the future.  

“Additionally we are pleased to report a high demand for the Interwetten group’s business-to-business products. Negotiations with notable international providers are ongoing as the group aims to meet the challenges posed by the fragmentation of the European gaming market.”

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