Games were the only vertical to see a small drop off with revenue down 5%. The big surprise was the resurgence of tennis as a major betting sport and the effect In Play has had. It culminated in £50 million worth of bets placed on the Australian Open final between Rafael Nadal and Novak Djokovic.
Growth has continued into the final quarter of the financial year with Morana stating: “Exchange revenue continues to exhibit double-digit growth rates and overall Core Betfair revenue up 10% in the quarter to date. This leaves us confident that we will meet our expectations for the full year.”
It was also confirmed Ed Wray has stepped down as chairman to be replaced by Gerald Corbett with immediate effect.
Profits took a hit at bet-at-home after the introduction of new taxes in Austria. Net gaming revenue saw a marginal increase of 0.7% to €66.12 million. At the same time earnings decreased by 56% to €5.5 million; the number includes the expense from the tax application in Austria. Gross gaming revenue was a bright spark for the European-facing company taking in €72.81 million, an increase of 10.1% for the Betclic Everest owned brand.