Costly 2016 marketing outlay sees bet-at-home look forward to 2017 plansby Joker 06.03.2017 0 comments
Frankfurt-listed European sports betting operator bet-at-home AG, closes a year of high marketing activity as the company seeks to expand its services and coverage within its core markets of Austria and Germany.
Presenting its full-year 2016 financial results (period ending 31 December), bet-at-home reported that it had achieved a ‘new record in gaming and betting volumes’, with the company recording FY 2016 group revenues of €138 million, up 14% on corresponding FY 2015’s €120 million.
Updating investors, bet-at-home governance would reveal that the company had spent circa €44 million in marketing expenses for FY 2016, with the operator targeting the high-coverage multi-channel campaigns during the costly UEFA Euro 2016 Championships (10-25 June).
The hefty marketing outlay would impact bet-at-home 2016 earnings metrics, with the firm reporting a flat-line consolidated profits of €31 million (FY 2015: €30 million).
Looking forward, bet-at-home governance states that its strategic 2016 marketing outlay will help the company produce ‘stable assets’ for its improved future corporate performance. The operator points to the marked increase of its customer base which 4.6 million registered users in Q4 2016.
Presenting its fiscal 2017 outlook, bet-at-home governance stated that without any changes to regulatory and tax conditions, the company expects to generate circa €145 million in corporate revenues, combined with an EBITDA range of €34-38 million.
bet-at-home governance have yet to officially comment on group 2016 corporate performance.