SBC News Voice of the Sports Betting Industry
Swedish stock-listed and Malta licensed igaming operator Betsson announce that second quarter operating income increased by 26 percent to SEK 137.8 ($109.5) million.
Improved performance and growth were attributed to the companies operational decision to merge all igaming verticals -casino, sportsbook and poker into one uniformed platform. Betsson have all focused company technical and marketing competancies into delivering optimised performance through its mobile gaming services.
CEO Magnus Silfverberg commented “Betsson continues to make investments in order to optimize its operations. During the second quarter a successful migration of Betsson.com to the common platform was executed. After this, the majority of Betssons revenues are generated on the new platform. This has strengthened the mobile offering and enables an advanced further development of the gaming experience as well as cost-efficient operations. At the same time Betsson delivers stable organic growth and one of the market’s strongest profit margins.”
Below is a summary of the Betsson Q2 board presentation:
- Revenues amounted to SEK 579.2 ($486.2) million, equivalent to an increase of 19 percent. — Operating income amounted to SEK 137.8 (109.5) million which is equivalent to an increase of 26 percent.
- Gross profit in the Sportsbook including all gaming solutions amounted to SEK 3,447.6 ($2,744.8) million, which is an equivalent to an increase of 26 percent. — Income before tax amounted to SEK 137.5 ($110.9) million which is equivalent to an increase of 24 percent.
- Net income amounted to SEK 128.3 (105.4) million, corresponding to SEK 2.95 (2.54) per share.
- Deposits in all of Betsson’s gaming solutions amounted to SEK 2,017.8 ($1,509,5) million which is equivalent to an increase of 34 percent.
- During the quarter Betsson executed a technical upgrade when the brand Betsson was migrated to a common technical platform. This migration was successful.
