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Betsson reports 3% Q3 revenue increase

Betsson has reported revenue of SEK 1.73bn ($200m) for the third quarter of 2021, a 3% increase from the prior-year period.

pontus betsssson

Casino revenue declined by 3%, with sportsbook revenue climbing by 24%. The sportsbook margin for the period was 8%.

Operating income reached SEK 323.6m, a decline of 2%. Net income meanwhile was SEK 287.4m, while operating cash flow was SEK 423.5m. Active customers throughout the quarter increased by 7% to 986,429.

Betsson also noted the acquisition of Inkabet and the 28% investment in Slapshot Media Inc.

Betsson President and CEO Pontus Lindwall highlighted the group’s continued investments in the US in the update, with the company’s proposed launch in Colorado during Q1 2022 still on track. Lindwall labelled Q3 2021 “an intense period” in order to secure “everything from meeting the authorities’ reporting requirements to adapting the platform and technology so that the US-adapted sportsbook can enter a testing and certification process.”

On the acquisition of Inkabet’s B2C business and the investment in Canadian startup company Slapshot Media Inc, Lindwall said: “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 pointed to the future in the update, saying: “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.”

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