western european growth and world cup effect boosts betsson

western european growth and world cup effect boosts betsson

by 19.07.2018 0 comments

Group increases across the board have been reported by Betsson AB in the online gambling organisations latest interim report, covering the period from 1 January – 30 June of this year.

Increased efficiency, product upgrades and a systematic following of its “back on track plan,” centred around the four strategic areas of growth in core markets, product and technology, efficiencies and M&A activities temporarily on hold, have been highly praised by the firm.

The second quarter, covering the period April-June, saw group revenues increase 14 per cent, hitting the SEK 1.3bn (£116m) mark, as opposed to SEK 1.1bn (£101.5m) for the corresponding period in 2017, 3.7 per cent of which is aligned to the Russian World Cup which began on June 14.

Casino revenues increased 16 per cent during Q2, soaring over SEK 1bn in a quarter for the first time, while sportsbook grew 17 per cent.

Operating income was also heavily impacted by the footballing showpiece; a 45 per cent growth reaching SEK 300m (£26m), up from 2017’s SEK 207m (£17.8m)

This helped the group achieve increases in its figures for the January – June (H1) period, with revenues reaching SEK 2.5bn, (£220.3m), up 12 per cent on the last year’s SEK 2.2bn (£196.4m).

Operating income for the period saw a boost of 14 per cent during H1, rising from SEK 448m (£38m) to SEK 512m (£44m) this time around.

Praising growth across Western Europe as well as the increased activity during the World Cup, Betsson CEO Pontus Lindwall commented: “ At the core of everything is our company culture and organisation. Betsson is as good as its employees and it has been a pleasure to see the enthusiasm and hard work of the Betssonites during the World Cup.

“The third quarter has begun with daily revenues higher than the average daily revenue for the full third quarter last year. The revenue increase is to a large extent a result of activity related to the FIFA World Cup that ended on 15 July 2018 and should not be regarded as guidance for the full third quarter.

“We continue to work hard with the ambition to make Betsson’s product offering more competitive and the marketing efforts more efficient. However, it will still take time until we see sustainable improvements.”

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