The Austrian bookmaker announced the results for the third quater of 2005 which has seen a 165 per cent increase in turnover up to EUR 264 million, a more than trebled gross gaming revenue of EUR 35.7 million and a proft after tax of EUR 1.2 million.
The numbers for the first nine months of 2005 were respectively of EUR 755 million, up 199%, for the betting turnover, EUR 96.3 million, up 196%, for the gross gaming revenue and EUR 1.4 million for the profit after tax.
Turnover from sports betting amounted to EUR 252.1 million, representing an increase of 162.1% compared to the same period the previous year. Gross gaming revenue (betting turnover less customer winnings) from sports betting amounted to EUR 23.274 million, up 197.2 per cent from Q3 2004.
The number of active sports betting customers rose significantly to 349,029, up 178.1% from Q3 2004, while the number of new active sports betting customers increased 232.8 per cent to 131,628 despite higher acquisition costs per customer attributable to a higher proportion of marketing expenses.
During the period BetandWin concluded the acquisition of Betoto for a cash consideration of EUR 5 million plus 200,000 BAW shares for a total purchase price of EUR 18.94 million, equivalent to nearly three times the anticipated gross gaming revenue for the year 2005.
The first few weeks of the fourth quarter produced a further increase in the number of customers, betting activity and turnover.
Betandwin is confident that the group will be able to maintain its previous rate of growth and expansion as the “immature European markets” offer tremendous potential for growth.