France Pari 1Q exceeds expectations

French online operator France Pari has posted strong first quarter results it attributes to an 87 percent revenue rise contributed by B2B division Sportnco and a further 70 percent rise in operator activities.

The company said an 80 percent increase in stakes amounting to Euro 3.5 million was achieved through growth in its live and mobile betting channels. Mobile now represents almost 15 percent of stakes.

Other key figures included Total Revenue of Euro 4 million, EBITDA of Euro 150 000, GGR of Euro 725 000 and a gross margin rate of 20.2 percent.

Pari mutuel stakes on horse racing remained static at Euro 300 000 with a gross margin rate of 23.2 percent, the company said.

In line with its mobile strategy, France Pari will launch an iPhone app this week with a further roll-out to B2B clients in the second quarter.