igamingbusiness wrote:Online casino and sports betting provider Webis Holdings has cited the success of its WatchandWager.com deposit wagering subsidiary as one of the main reasons behind year-on-year growth during the 12 months through to May 31.
In its audited results, Webis reported that turnover for the full-year amounted to $275.9 million (£175m), which is up 4.2% on the $264.7 million posted at the same point in the previous year.
Gross profit increased by 2.1% from $8.5 million in 2013 to $8.7 million in the past 12 months, while total comprehensive income grew from $280,000 last year to $460,000 in 2014.
In addition, basic earnings per share increased from $0.07 to $0.13 while total assets grew by 27.4% from $10.5 million to $13.4 million.
Denham Eke, non-executive chairman of Webis Holdings, said: “The group has achieved a total comprehensive profit for the full financial year ended May 31.
“WatchandWager.com, the group’s pool-wagering and racetrack operation, has made some excellent strategic progress, particularly with increasing the availability of premium global wagering content for our customers.
“The group’s sportsbook operation, betinternet.com Limited has remained resilient against some strong regulatory headwinds that are impacting the online gambling industry as a whole.”
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