In its H1 2016 interim results, German sports betting operator Interwetten has revealed company record corporate revenues of €32.8m (£27.4m), up 29 percent on H1 2015, after a strong performance at this year’s UEFA European Championship.
The firm saw increased user activity during the period, as well as high engagement on its mobile product, which generated 63 percent of all sports betting revenues in Q2.
Werner Becher, spokesman for the Interwetten Board of Directors, said: “I’m very happy and proud that our strategy of sustainable growth works so well. Having increased our marketing spend before and during Euro 2016, we managed to increase our profits at the same time.”
Despite this extra spending, the company said it was still somewhat surprised that revenues during Euro 2016 had “ticked up 35 percent compared to the 2014 World Cup”, considering the more recent tournament includes 13 less games.
Closing its H1 2016 performance, Interwetten governance expects to post a corporate EBITDA of €6.7m (£5.6m) with adjusted net profits of €5.7m (£4.8m).