SBC News Voice of the Sports Betting Industry
STS Group has reported on a consecutive record-breaking quarter performance, benefitting from continued growth in its home market of Poland.
Opening its 2023 accounts, STS cites that Polish growth has helped its business overcome recent market exits in the UK and Estonia, announced during the close of 2022.
Q1 trading saw the Warsaw SE-listed betting group achieve wagering results of PLN 1.19bn (€255m), reflecting a 16% year-on-year increase on Q1 2021 corresponding results of 1.02bn.
Of significance, excluding its UK and Estonian operations, STS maintained its new customer registrations at 57,000, of which the company recorded 37,000 new depositing customers (NDCs), above Q1 2021 comparatives of 35,000.
Headline wagering growth helped STS achieve a Q1 GGR of PLN 305m (€64m), up 9% on like-for-like 2021 comparatives of PLN 279m.
Further improved metrics saw STS register an increase in NGR, rising from PLN 156m to PLN 175m (€37m), excluding the UK and Estonia operations.
STS President, Mateusz Juroszek, outlined that the group would continue its strategic reorganisation, prioritising Polish home market growth initiatives.
“In line with our expectations, in Q1 2023 we achieved very good operating results. We recorded significant increases in key indicators related to our business. STS customers remain strong and willing to place bets,” Juroszek explained.
“In addition, a significant proportion of players acquired during the World Cup are highly active. We hope that in the coming months we will continue to effectively activate our extensive customer base, which is still growing.
“In 2023, the Group is planning a number of activities aimed at increasing the profitability of its operations. To this end, the company reorganised its operations, focusing on Poland and closing its activities under licences in the UK and Estonia.”
