Sports betting and online gaming operator Interwetten has targeted €100 million in gross gaming revenues (GGR) for 2019 after reaching €47.7 million for January to June (H1).
Interwetten confirmed that Q2 revenues had increased by 27 per cent to €25.2 million, while the year to date (YTD) total of €47.7 million was up by 24 per cent from the corresponding period in 2018.
Dominik Beier, Speaker of the Board at Interwetten, praised the recent results: “Due to hard team-work we have reached the best numbers in the company’s history for H1 2019. We haven’t reached the ceiling at all yet though, further improvements will make Interwetten shine even brighter in the future”
Assisted by a drop in marketing spend, which was down 38.5 per cent year on year (YOY) – to €4.8m or 19.1 per cent of the GGR – due to last year’s World Cup in Russia, Q2 2019 EBITDA was up 12x to €7.6m.
Despite the World Cup being in the comparative trading period, the company was pleased to report that Q2 sports GGR had ‘inched’ up nearly 3 per cent YOY to €10.6 million.
However, the number of first-time depositors (FTDs) did suffer a drop through a reduced marketing spend, down by 20 per cent to 16,564. CPA was down by 24 per cent to €290.
Despite this Q2 reduction, FTDs for H1 still came out 7 per cent ahead of last year (36,000 YTD), while CPA was down 21 per cent to €325.
Lapping the World Cup period, and taking into account the inflated number of FTDs last year, H1 actives were unsurprisingly 13 per cent lower at 111,000. Average revenue per user (ARPU) was ahead by 43 per cent to €430.
Meanwhile, gaming revenues jumped by a huge 58 per cent to €13.9 million, while other revenues were deemed as ‘flat’ for YOY in H1.