Interwetten pledges renewed investment after “remarkable” 2016

Interwetten has pledged to increase investment in its core Central European markets, after a “remarkable” 2016 saw revenues increase 24% to €68.4m.

The Malta-licensed firm said full year EBITDA also grew by 15% to €16.9m despite “massively increased investment” into marketing and bonuses in the run-up to the Euro 2016.

Staking increased 29% to €1.2bn.

“We are very happy and proud, that our strategy of strongly investing in our unique sportsbook and platform, which is completely developed in-house and independent of third party suppliers, is strongly honoured by online betting and gaming customers in Continental Europe,” the Interwetten board said in a statement.

The firm saw success in all of its core markets with 22% revenue growth in German-speaking countries, 108% growth in Greece, 11% in Spain and 26% in ‘other’ markets.

The firm said the performance prompted further investment in 2017, adding: “The board of Interwetten is convinced that the company will once again manage to increase its market share in 2017 as it did in previous years, and to further expand its market position as one of the top-five online gaming companies in Central Europe.”