Mangas Gaming group subsidiary reports 35 percent growth.
The French online gambling group Mangas Gaming’s Bet-at-Home.com internet casino and sports betting subsidiary reports that its Q1/2010 gross earnings have reached Euro 13.8 million, a 35 percent rise on the comparable period in 2009.
Profit before tax rose 38 percent to Euro 2.6 million while it held assets worth Euro 25.4 million at the end of March, an 18 percent year-on-year increase.
Management revealed that turnover was up by just over 76 percent year-on-year to Euro 314.5 million with gross gaming revenues growing by 54 percent compared to the first quarter of 2009 to Euro13.8 million.
“With increased marketing expenses of Euro 6.7 million in the first quarter of 2010, a rise of 8.9 percent in comparison to first quarter of 2009, a further strengthening of the Bet-At-Home.com brand has been reached in many European countries, with the number of registered users reaching 1.9 million,” Management reported.
“Due to excellent revenue development, EBITDA significantly increased from Euro 250 000 for the first quarter of 2009 to Euro 2.61 million for the first quarter of 2010.”
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