betsson rides high on global profile following record q3 performanceby Joker 23.10.2020 0 comments
Betsson AB has continued its strong 2020 momentum after the Stockholm-listed online gambling group backed its domestic and international prospects closing year-end trading.
Publishing its Q3 2020 trading update, Betsson recorded group revenues of SEK 1.67 billion (€161m), up 31% on corresponding 2019’s SEK 1.27 billion.
Driving performance, Betsson noted a record 46% increase in active customers across its online gambling brands to +920,000.
A breakdown of business segments saw Betsson’s casino units deliver a 39% increase in revenues to SEK 1.3 billion (Q3 2019: SEK 940m) which accounted for 77% of group revenues. Casino growth was attributed to strong mobile games take-up, generating SEK 984 million.
Elsewhere, Betsson benefited from the return of a ‘full sports calendar’, as its sportsbook units recorded revenues of SEK 352 million up (314.6) million, up 12% on Q3 2019’s SEK 314 million.
Betsson also recorded double-digit revenue growth across all key operating regions – Nordics (+17%), Western Europe (+23%), CIS markets (+40%) and RoW (+124%).
Betsson highlighted that its subsidiaries were able to match a mass consumer transfer to online gambling during lockdown, aided by its scalable proprietary technologies and new co-synergies formed through its 2019 transformation programme.
Updating its year-to-date outlook, Betsson tracked group revenues of SEK 4.62 billion (€442m) , an increase of 19% on YTD2019’ 3.88 billion.
Meanwhile, the Stockholm group’s YTD Operating EBIT stands at SEK 807 million, with a net income increase of 22% to SEK 713 million.
“Betsson presented another strong result in the third quarter. The last two quarters have been defined by extraordinary challenges for everyone. Despite this, Betsson has both expanded into new markets and developed new products and features,” explained Pontus Lindwall, president and CEO of Betsson.
“Betsson has a strong financial position, a diversified portfolio with a global footprint, strong brands with local expertise, flexible and scalable proprietary technology, along with highly dedicated and talented teams. I look forward, with confidence, to the future of both B2C and Betsson’s ambitions in B2B as a sportsbook supplier.”