German online gambling operator Bet-at-home had its best ever quarter despite the lack of a major sporting event to spur betting activity.
Figures released Monday show French operator Betclic Everest Group’s Dusseldorf-based Bet-at-home subsidiary’s total betting and gaming revenue in the first six months of 2017 hitting €76.8m, a rise of 17.5% from the same period last year. Betting accounted for €34.5m of the H1 total, with eGaming (casino, poker, etc.) contributing €42.3m.
The Frankfurt-listed Bet-at-home’s earnings hit €17.4m in H1, nearly twice the €9m earned in H1 2016. Revenue and earnings in the second quarter totaled €39.6m and €12.4m, respectively, each of which represent new quarterly records for the company. Investors reacted by pushing the company’s shares 4% higher on Monday.
The lack of a major sporting event like the Euro 2016 football tournament or last summer’s Olympic Games in Brazil should typically have resulted in a decline in betting activity, yet Bet-at-home’s betting and gaming turnover through the first half of 2017 was up nearly one-quarter to €1.37b.