17th of November 2010 Author: Johnny Karp
Mangas Gaming branch notes improvement in business operations
Bet-At-Home, a Dusseldorf-based subsidiary of Mangas Gaming, has recorded boost in all crucial performance sectors, according to its recently-published report on year-to-date and third quarter results.
In the Q3, gross profit grew by 57.1 percent to EUR16.78 million, whereas net profit before tax was up EUR7.16 million (Q3 2009: EUR - (negative) 3.14 million). In the same period, betting and gaming turnover noted a 57.9 percent growth to EUR356.02 million (Q3 2009: EUR225.45 million). In terms of net gaming profit, in Q3 it increased by 57.5 percent to EUR16.65 million (Q3 2009: EUR10.57 million).
What's interesting about this period in light of such positive results is that the company actually reduced its marketing spending to EUR5.74 million (Q3 2009: EUR11.96 million). Yet, the year-to-date results show that Bet-At-Home invested EUR28.66 million in marketing, which is actually an increase compared to the EUR22.07 million from 2009.
Key facts for YTD, ending September 30 2010:
* Growth in gross profit by 74.3 percent to EUR48.14 million (2009: EUR27.62 million)
* Positive results for net profit before tax of EUR6.58 million (2009: - (negative) EUR320 000)
* EUR23.07 million of available assets (December 2009: EUR20.68 million)
* In this period, betting and gaming turnover was 71.3 percent higher than in the same period in 2009 at EUR1043.48 million.
* Net gaming profit amounted to EUR47.78 million (2009: EUR27.15 million).
* According to the company, there are over 2.1 million players on its records.
* EUR6.61 million of YTD EBITDA (YTD 2009: EUR- (negative) 2.19 million).
Bet-At-Home is licensed in Malta and listed on the Frankfurt and Vienna stock exchanges. As a part of the French Mangas Gaming group, it has two sister sites - BetClic and Expekt.
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