The Group informed that casino revenue decreased by 2% during the period, while sportsbook revenue increased by 24% and the sportsbook margin was 7.9%. Operating income (EBIT) was US$ 37.65m, a decrease of 1.7%. Finally, the firm reported net income of US$33.45m.
The company also informed that it has increased its number of active customers by 7% to 986,429 from 920,045.
Betsson’s CEO Pontus Lindwall, explained: “After several records during the previous quarter, we managed to increase revenue by just over 3 per cent during the third quarter, compared with the corresponding quarter last year, which was a very strong quarter. At that time, the strong increase in revenue was driven by a surge in demand for digital entertainment.”
Further citing strong performances in Croatia, Greece and Latin America, he highlighted Betsson’s M&A driven sports betting and casino expansion in the latter, having strengthened its position in the region via a takeover of Inkabet, expanding its range of LatAm-focused brands including JDP Tech Ltd, Suaposta, and Colbet.
“Strengthening our business through acquisitions is an important component of our strategy and it has been a successful way to create growth but also to build competence in the organization. In this way, a dynamic business is created that also positively impacts existing operations,” Lindwall also explained.
Refocusing on European operations, Lindwall expressed disappointment with the group’s progress in the Netherlands due to a decision by the national gaming authority, the Kansspelautoriteit (KSA), to implement a cooling off period which forced the company to cease operations while it awaits a license.
“An important guiding star for my leadership has always been to drive the company towards the goals set for it, regardless of obstacles along the way and I intend to continue according to that. We have built a very strong and competent team at Betsson and I look forward to continuing to build the company even stronger in the future,” Lindwall concluded.
Source: GMB
