If Danica McKellar can read these earnings reports, so can you

TAGs: Bet-at-Home, intertain group, Interwetten, Intralot, Mr Green, myBet

danica-mckellar-compYes, it’s that time of year again. Every three months, the publicly traded gaming companies of the world issue their quarterly earnings reports and gambling news sites get bogged down by all manner of dollar figures and percentage points. We’re as weary of reporting it as you are of reading it. recognizes that most of you won’t read anything longer than a betting slip without inducement (poker players won’t ordinarily read anything that won’t fit on a HUD), so accompanying this list of half-a-dozen different earnings reports are utterly gratuitous shots of Danica McKellar, former Wonder Years actress, Dancing With The Stars competitor, author of such math-inspired books as Hot X: Algebra Exposed and personal secret-shag-fantasy of a certain online gambling PR man (who shall remain nameless and thus blameless). If Winnie Freaking Cooper can get through this jumble o’ numbers, so can you.

BetClic Everest Group offshoot Bet-at-home really enjoyed the 2014 FIFA World Cup, as revenue spiked 28% in the first six months of the year. Revenue topped €53m as betting turnover rose 18.5% to €1.08b. Despite marketing expenses rising nearly 50% year-on-year to €24.6m, earnings were up a quarter to €9.3m. The company’s ranks of account holders rose by 400k to 3.8m.

The Toronto-based Intertain Group reported revenue of $5.2m in the three months ending June 30, up 80% sequentially thanks to a full quarter’s contribution from its InterCasino and InterPoker brands, acquired late last year from fellow Canucks Amaya Gaming as part of the WagerLogic sale. Intertain says its software licensing deal with Amaya will be augmented within the next month by mobile product launches for both InterCasino and InterBingo. Intertain CEO John Fitzgerald says the mobile launch will “really be the impetus’ for ramping up marketing spend.

Intertain’s revenue doesn’t include the $7.9m generated by Mandalay Media’s UK bingo operations, which Intertain officially acquired in July. Fitzgerald says the bingo addition will provide “immediate access to new markets and a robust player base.” Fitzgerald is eyeing a “couple of smaller tuck-in acquisitions” – including a social gaming platform – before launching a sportsbook, which Fitzgerald believes will likely also come via acquisition.

Also getting a kick from the World Cup is Malta-licensed sports betting operator Interwetten, which reported a 12% rise in H1 revenue to €22m. Over 60% of World Cup betting turnover came via mobile channels. Like Mybet, Interwetten is itching to land one of those coveted 20 German sports betting licenses if and when the German government remembers that the application process was supposed to be completed before the end of this century.

Greek lottery and betting technology supplier Intralot posted a healthy 26% gain in revenue over the first half of 2014 but earnings fell 8% to €89.5m, mostly due to dodgy currency exchange rates. Sports betting accounted for half (€403m) of all H1 revenue, with number games (29%), electronic gaming machines (10%), IT products/services (8%) and racing (3%) making up the balance. European Union operations accounted for the lion’s share (€506m) of revenue, while revenue from the Americas rose 10% to €253m.

CEO Constantinos Antonopoulos said the first half of 2014 had seen the company reduce its net debt, extend five existing contracts as well as inking a brand new deal with the Georgia Lottery. Since the quarter ended, Intralot has emerged as the sole bidder for Greek horse betting monopoly ODIE, which was being auctioned off as part of the country’s state-asset privatization program. French operator PMU and South Africa’s Phumelea had teamed up on a tandem bid but eventually withdrew their offer, leaving Intralot as the only interested party.

Swedish betting operator Mr Green says it “significantly” outgrew the online casino market in the second quarter of 2014, with revenue and earnings both up 41% to SEK 161m (US $23.5m) and SEK 38.5m respectively while profit rose 9% to SEK 23.2m. The group still earns over half of its revenue from Nordic markets, but the rest of Europe’s share nearly doubled year-on-year to SEK 73.5m. Mobile channels accounted for just under one-quarter of revenue.

Mr Green also announced the departure of CMO Henrik Svensson after 18 months of the job. Svensson’s remit has been divided up between marketing manager Fredrik Stael and player acquisition chief Stein-Erik Myhre.

In Germany, betting operator MyBet had even more reason to cheer the homeland’s World Cup triumph. Group revenue in the first six months of 2014 was flat at €34m but sports betting revenue rose 17% to €20m. Horse betting rose 31% to €3.1m, helping to cushion a 12% decline in poker and casino to €10.9m. The World Cup wasn’t enough to jumpstart MyBet’s online betting turnover, which actually dipped slightly to €51.5m, while retail betting stakes were up 13%.

Mybet also announced the sale of its underperforming Spanish operation Digidis SL for €275k. The Spanish biz generated a €5.4m loss for its parent in 2013, prompting the company to launch an operational review. CEO Sven Ivo Brinck said the decision to close the business and sell its assets was necessary “to make Mybet competitive for the long haul.” A similar fate awaits Mybet’s Italian division, which reported a loss of €209k in Q1.


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