February 27 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BSE:TIB] said on Monday that its consolidated net profit rose to 22.8 million levs ($12.32 million/11.66 million euro) last year from 20.7 million levs in 2021.
The betting operator’s revenue jumped by 32% year-on-year to 103.3 million levs in 2022, Telematic Interactive said in an annual financial statement.
Casino operations generated 88.8 million levs, which was 28% higher than the prior year. Sports betting revenue grew by an annual 33% to 8.6 million levs, while revenue from online gambling content came in at 4.5 million levs, up from 355,000 levs in 2021.
The company's operating expenses went up to 77.8 million levs in the review period from 55.1 million levs the year before, mainly due to a 38% increase in costs of hired services to 46.6 million levs.
Earlier this month, Telematic Interactive said it invested 1.5 million levs in its wholly-owned subsidiary CT Interactive in order to develop its operations, purchase software products and create an online studio for live broadcasting games.
As of 1530 CEST on Monday, shares in Telematic Interactive traded flat at 15.00 levs on the Bulgarian Stock Exchange.
(1 euro = 1.9558 levs)