Casino revenue for the quarter amounted to SEK1.12bn, which was 16.1% higher than in Q1 of 2020. Some SEK868.2m was generated via its mobile casino.
Betsson felt the benefit of expanding its content portfolio with 180 new games, with the operator now offering over 5,100 titles from more than 100 suppliers.
Revenue from Betsson’s sportsbook business edged up 2.4% year-on-year to SEK394.0m, with SEK320.9m coming from its mobile sports betting platform.
In terms of other products, including poker and bingo, revenue here climbed by 15.1% to SEK21.3m.
Betsson also noted a significant increase in the number of active customers in Q1, with this rising 39.2% year-on-year to 948,109.
Statements of Betsson president and CEO Pontus Lindwall:
“2021 began with a quarter that showed growth compared to the same period last year. On several markets, such as Italy, Baltics, Peru and Chile, we continue to deliver strong growth and good profitability. This is very encouraging, however, we are not fully satisfied as we have experienced difficulties in a few other markets, for various reasons.”
“Thanks to a broad and diversified product portfolio with many brands in several markets, Betsson can deliver results to continue to create growth. The slightly lower operating margin is a result of ongoing strategic investments to ensure long-term growth and create shareholder value.”
“Last quarter we described how Betsson expanded into new markets through acquisitions and new gaming licenses. Evaluations of interesting markets continue. Croatia continues to perform well with high levels of activity. We continue to strengthen our position in Latin America and is now establishing an office in Bogota, Colombia, which is the first regulated market in the region. In Brazil, Betsson is carrying out brand-strengthening activities ahead of the forthcoming regulation in the country.”
“We are currently adapting the sportsbook for the US market, initially with the intention to offer it as an operator in the state of Colorado, while we are preparing a B2B offering of the sportsbook in the US. The work of adapting and making the sportsbook attractive for the US market has been further intensified. Betsson´s sportsbook will be integrated on TG Lab’s new US facing entity’s PAM before the launch in Colorado.”
Source: GMB / iGB
