Updating investors on Betsson AB’s interim 2018 results, Group Chief Executive Pontus Lindwall has declared that ‘confidence is back in the business’.
Lindwall who regained leadership of Betsson AB in September 2017, following the departure of former incumbent Ulrik Bengtsson, would implement a ‘corporate efficiency program’ following a lacklustre 2017 trading.
Named the ‘back on track plan’ by Betsson governance, the program has focused on three strategic areas; optimising operational efficiencies, improving product output and enhancing growth within core markets.
Supporting the program, Lindwall has placed Betsson ‘M&A activities temporarily on hold’, focusing the firm’s recovery through organic disciplines.
“We have continued to follow our ‘back on track plan’, which has delivered solid growth in both casino and sportsbook. Highlights have seen casino revenues exceed SEK 1 billion for the first time ever, as Betsson delivered a record period EBIT.
“This plan is not finished, as we will continue to work on improving group efficiencies and product offerings, however, I’m pleased with the outcome of initiatives so far” Lindwall tells Betsson investors.
In his presentation, Lindwall breaks down a busy period of output for Betsson development teams which have delivered effective product enhancements for the firm’s services.
For casino, which Lindwall describes as ‘having bounced back’ from its 2017 slumber, Betsson has improved its live game offerings, installing Scandinavian-language tables across core brands, helping the company sustain ‘11% growth across the Nordics’.
With regards to sportsbook, Lindwall states that the products significant growth during the ultra-competitive World Cup period is ‘a testament that the company is heading in the right direction’.
A revamp of Betsson AB’s sports betting product across all core brands, has seen the operator launch its new BetBuilder tool, supported by an additional +230 new pre-match markets. Furthermore, the company has enhanced customer engagement and interactions by markedly improving sportsbook load times across all platforms.
Closing a busy interim period Lindwall states “We are working around the clock, to bring Betsson back to where it belongs. The plan is built around core areas, but our culture and organisation remain central to everything. We are seeing improvements in our products and performance, but I remind you that we are still half-way through this process”
Entering a crucial H2 2018 period, Lindwall states that Betsson’s executive team is ‘excited and on its toes’ to enter the re-regulated Swedish online gambling market, set to come into effect on 1 January 2019.