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STS Holding reports slight revenue increase for H1 2022

Polish operator STS Holding has published its financial results from the first half of 2022, reporting increases in net gaming revenue (NGR) and user registrations.

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STS NGR for H1 2022 exceeded PLN296m (US$63.6m), a marginal increase from last year when NGR stood at just under PLN296m.

The value of total bets wagered amounted to PLN2.18bn, a slight decrease from last year’s total of PLN2.22bn. This decrease can be attributed to the fact that Euro 2020 (a year late) took place during Q1 2021.

The company reported a record quarterly NGR from January to March, generating PLN158m, representing a 15% year-on-year increase. Adjusted EBITDA for Q1 2022 stood at PLN72m, compared to PLN61m in the previous year, representing a year-on-year increase of 17%.

In Q2 2022, the company gained 92,000 new users, bringing the total number of active users for the period to 375,000. 

STS Holding CEO Mateusz Juroszek said: “In the first half of this year, we achieved very good operating results.

“It is worth noting that in 2021, EURO 2020 was played. In the second half of this year, we hope that the very attractive calendar of sports events and the World Championships in Qatar will allow us to develop even better operating indicators, which will also positively translate into financial results.”

STS revenue for Q1 2022 stood at PLN142m, an increase from the previous year's total of PLN125m. Net revenue for STS SA, STS’s main operating company, amounted to PLN59m, a year-on-year increase of 24%.

The company went on to detail its continued focus on developing a “mobile-first strategy”, based on a proprietary bookmaker system. STS invested PLN29m into its product portfolio and technological solutions in 2021, with STS SA executing a takeover of Czech technology company Betsys in 2020.

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