Acquisitions and new market entries have been pinpointed as key factors to 2020’s success by Betsson Group, with an accelerated, COVID driven, transition to digital also acknowledged.
Betsson AB has reported an “all-time high” record fourth-quarter performance, having recorded sustained growth despite “unprecedented challenges across all operating regions.” The company entered 2021 strong with a continued growth during Q4 with an EBIT increase of 59%. Betsson recorded Q4 group revenues of €175 million, up 37% compared with the sme period of 2019.
During Q4, Betsson saw its customer activity increase by 44% to 980,000 across its brand portfolio, while the company benefited from a higher period sportsbook margin of 7.3%.
“Betsson ended 2020 with yet another strong quarter. Under the extraordinary circumstances that still prevail, online gaming continues to demonstrate its resilience to market fluctuations and Betsson demonstrates good profitability,” commented Betsson Group CEO Pontus Lindwall.
“The increase is driven by both casino and sportsbook with a sportsbook margin that was slightly higher compared with the third quarter this year. We are pleased by the continued strong development in the Nordics, especially in Denmark and Sweden, at large driven by the “pay and play” brand Jalla Casino,” he continued.
“The pandemic still holds us all in a tight grip and Betsson’s focus is, as always, on safety and health, for our employees and for society in general,” Lindwall remarked.
“We still face challenges, but we leave 2020 behind and continue with determination to benefit from our strengths to create a strong global and diversified product portfolio of strong brands and local expertise. The strong financial position enables investments in technology and existing product portfolio. And we are confident in our ambition with a scalable and flexible proprietary technology as well as highly dedicated and talented teams,” Lindwall concluded.
Source: GMB
