Online Gambling Giant Interwetten Reports Growth

Published Thursday, July 21, 2016 -
Online Gambling Giant Interwetten Reports Growth

It appears that there may be a connection between the rise of profits in the online gambling sector while the terrestrial casinos aren’t doing as well as expected. Notable downturns include the biggest earth bound casinos located in Macau China that were down significantly and the news in April that the Las Vegas Sands shares had fallen 6%. Macau's Gaming Inspection and Coordination Bureau revealed the troubling numbers for a month in which revenues should be much higher, the festive Chinese New Year season.

Not that the news for some online gambling operators was as good as the results recently posted by Interwetten, one of the biggest gaming operators in the industry. Interwetten was founded in 1990 and in 1997 became the first to offer its customers online sports betting.  The multi-channel gambling mainstay reported an increase of 29 per cent for half-yearly gross revenue of €32.8 million. The UEFA 2016 European Championship played a part in the firm’s financial performance with revenue during the competition increasing by 35 per cent when compared to the Brazil FIFA World Cup two years ago.

According to the company’s report, sports betting increased by 93% over the same month in 2015 casino revenue increased by 40% over same time period last year. The significant increases were attributed to Interwetten’s most popular products, IW Casino and Interwetten Casino with over 800 desktop games and 400 mobile games designed by leading software developers.

A spokesperson for Interwetten which is based in Malta,  Werner Becher said that “the company reaped the rewards of increasing their marketing spend both before and during the Euro 2016, by also increasing their profits. Becher added that the increase in profit is the best indicator of the company’s strategic success performance.”

Interwetten’s mobile sportsbook products made up 63% of all sports betting revenue while mobile casinos made up 43% of all casino gaming revenue.





Related news

Return to Latest News