Online gaming and sports betting company bet-at-home.com has reported a profit of €7.4 million ($9.8 million) before taxes for the first half of 2013.
The figure represents a turnaround from a loss of €3.34 million for the same six-month period last year.
Gross gaming revenue was down year-on-year from €42.1 million to €41.5 million, with bet-at-home citing the closure of unprofitable subsidiaries in the first half of 2013, the lack of a major international sports tournament and the introduction of a sports betting tax in Germany as the reason for the slight fall.
Betting and gaming turnover amounted to €432.2 million in the second quarter of 2013, down from €561.5 million in the corresponding quarter last year.
“The planned decrease in turnover and simultaneous increase in profitability underpins the goal of extensively increasing the profitability of the bet-at-home.com group. Outstanding successes have already been achieved in the first half of 2013 in this regard,” the company said.