Published
OnlineCasinoFinancialIndustry

Betsson AB casino revenue increases by 26% in first six months of 2017

Scan

betssonabresults
dinavian focussed online gaming company Betsson AB has reported a year on year casino revenue increase of 26% in the first six months of 2017.

In a statement to investors, the company reported that casino revenue had increased from SEK 1 352,3m in Jan-Jun 2016 to SEK1,669,5m in the same period of 2017.

Betsson’s year-on-year revenue grew by 18%, rising from SEK 1 935,5m in the first six months of 2016 to SEK 2,279,4m for the first six months of 2017, while the company’s gross profits jumped 15% from SEK 1 440,4m to SEK 1 657,4m.

However it hasn’t all been wine and roses for the Nordic operator, with sportsbook revenue and turnover dropping by 8% and 2% respectively. Additionally the company’s cash flow dropped 17% following significant investment in its mobile casino operation.

Announcing the company’s results online, Betsson CEO Ulrik Bengtsson commented: "The revenue growth in the second quarter was 26 percent, with an organic growth of 15 percent. Betsson continues to gain market share, both in the highly competitive Nordic region and in Western Europe.

The continuous product development is clearly paying off as both casino and sportsbook have developed strongly. Operating Income (EBIT) grew by 31 percent. Operating income shows strong growth, despite increased betting duties, a continuing currency headwind and increased marketing expenses, again showing the scalability of the business model over time.

It is also a good indication of the stability and balance of the business. Betsson is larger and a significantly more well-balanced business with higher growth rates, compared with a year ago. “


Casino News Sponsor
Premium+ Connections
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Soft2Bet
Scientific Games
Digitain Malta
Follow Us

Facing Facts: Q3 2024 analysis

Gambling Insider takes a look at the Q3 results of operators...

Taking stock: The final count of 2024

Gambling Insider tracks operator and supplier prices of some...

CEO Special: Flutter CEO Peter Jackson – Playing to win

As the biggest publicly traded operator in gambling meets th...

CEO Special: Holland Casino CEO Petra de Ruiter – High flier

Petra de Ruiter, Holland Casino CEO, speaks to Gambling Insi...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the event manager

A message from the Event Manager of the Global Gaming Awards...

From the Awards adjudicator

KPMG in the Crown Dependencies is the official voting adjudi...

The process

The Global Gaming Awards have deservingly earned the reputat...