23rd Sep 2024 11:51
(Alliance News) - B90 Holdings PLC on Monday said it benefited from the Euros 2024 football tournament as people betted on the games which saw the firm's revenue surge.
The Isle of Man-based company in the online gambling industry said pretax loss narrowed to EUR329,537 in the first half of 2024 from EUR1.8 million a year ago.
Notably, revenue rose 83% to EUR1.4 million from EUR754,659.
"The Euros 2024 football tournament provided an excellent opportunity to engage with key audiences. Promotional activities and numerous marketing campaigns across multiple channels during the event produced strong results," B90 Holdings said.
Executive Chair Ronny Breivik said: "B90 is now operating a successful platform of companies generating customers for operators of online casino and sports betting platforms. The group's portfolio of brands guides users to customer websites and enriches the experience of players worldwide."
Administrative costs decreased by 28% to EUR1.7 million from EUR2.4 million.
Looking ahead, B90 expects to meet current market forecasts for 2024 and anticipates further growth in 2025, citing operational efficiency.
"We have successfully restructured our casino and sportsbook operations towards outsourced solutions, allowing us to concentrate on our core strengths," Executive Chair Breivik said.
B90 Holdings shares were flat at 4.30 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.