SBC News Voice of the Sports Betting Industry
Swedish listed igaming group Betsson AB reported its best ever quarter performance, recording a 30% revenue increase. During the interim period the operator had seen revenues increase to SEK 782.1 million (£67 million) (2013 Interim – SEK 603 million)
The operators strong revenue generation, had been supported by a 36% increase in improved operating income which amounted to SEK 207.2 (£17.7 million). Betsson AB were able to post a net income of SEK 193 million (£16.4 million)
Betsson management pointed to improved player activity and engagement on its core products as the driver for its improved performance. Betsson has continued to its investment in new markets with the acquisition of Dutch igaming brands Oranje Casino and Kroon Casino
Magnus Silfverberg the President and CEO of Betsson AB commented on company Q3 performance
“In terms of stock market value, Betsson is now the largest pure online company on Nasdaq Stockholm. Thanks to Betsson’s strategies regarding multi-brand and a common technical platform, Betsson is in the third quarter able to deliver an organic growth of 16 percent as well as an organic growth, adjusted for one-off costs, in EBIT of 11 percent.
Furthermore, the Company continues to deliver strong growth within mobile gaming, with the share of revenue from mobile solutions now at 23 percent. With an EBIT margin of 26.5 %, Betsson has strengthened its position as the market’s most profitable online gaming company”
Performance Overview Betsson AB Q3 2014
