Betinternet.com parent company Webis Holdings increased its group turnover for the six months ended 25 November 2007 by 22% to £53.0m, with a profit at EBITDA level of £43k (2006: £182k) and a further reduction in overheads to £1.23m (2006: £1.28m).
“The results show that the Company recorded a profit at EBITDA level for the period. Activity levels increased within our casinos and fixed-odds games, especially the live dealer casino, and the sportsbook has increased its product offering during the period with the introduction of UK horse racing. I am pleased to report that EWS has resolved its banking issue and this has enabled the operation to return to previous levels of gross margin. Going forward, the board will continue to ensure that both EWS and the sportsbook business are appropriately positioned to capitalise on the opportunities available in the marketplace for sustainable growth,” commented Chairman Denham Eke.
For the second half of the year, Webis’ plan for Betinternet is to update its payment and fraud protection systems, integrate a new affiliates management program and significantly increase its in-running and sports betting offering as well as to enhance the promotion of the betinternet brand in Europe.
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