Webis Holdings Posts 48.3% Rise In Turnover

Online casino and sportsbetting provider Webis Holdings has reported a 48.3% rise in turnover for the financial year, which ended on May 31.

The firm posted total sales of £168.6 million (€197.3 million/$269 million) for the 12-month period, up from £113.8 million the previous year.

Webis also recorded a gross profit of £5.44 million for the period, a 70.9% increase on the £3.18 million achieved in the 12 months through to the end of May 2012.

Net assets grew by 424.4% from £590,000 to £3.1 million, while company cash also increased significantly by 131.1% to £2.59 million.

In addition, Webis also recorded a total comprehensive profit of £355,000 – the first increase it has achieved since 2009.

“The board is pleased with our achievements thus far and remains enthused by the opportunities that lie ahead,” Webis chairman Denham Eke said.

“With a strong balance sheet and the opportunity to invest further in our products, we anticipate the continuation of our growth strategies will be more rewarding in the forthcoming year.

“We have consistently achieved good advances within both of our gaming subsidiaries: WatchandWager.com Limited and betinternet.com Limited. This follows our continued enhancement of customer-facing website content and the recruitment of more experienced industry personnel.”

Eke also said that the firm would continue to push forward with its expansion plans in the US online gaming market.

“We remain very close to the US regulatory changes and are confident that our online licensing and land-based presence at Cal Expo positions us well for any positive amendments to legislation, particularly within California,” he said.

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