Isle of Man-based online gaming provider Webis Holdings has released its preliminary results for the financial year ending in May showing an increase in turnover to $201.81 million from $149.57 million.

Earnings before tax were revealed at $370,199, which was up from 2007’s $278,842, while the Isle of Man and Antilles-licensed firm stated that turnover for its BetInternet.com online sportsbook rose 40 percent to $149.42 million.

“The improved trading performance for the period is a direct result of the board's strategy for the company in a number of different areas including marketing activity, IT systems, capital expenditure and the ongoing identification of cost-savings,” said Denham Eke, Chairman for Webis Holdings.

“The board continues to focus on these and other areas all with the ultimate aim of enhancing the experience of new and existing customers alike. Trading for the first quarter of the current financial year was ahead of the board's expectations and I look forward to reporting further progress in due course.”

Webis also revealed that turnover for its parimutuel European Wagering Services grew by 23 percent to $52.33 million while it had reduced administration expenses by 2.8 percent on a 'like for like' basis.


Source: iGamingBusiness.com