Betsson AB revenue up 11%

In their latest financial report of the year, the company posted group revenues of SEK 1.18bn beating the SEK1.06bn reported during the same period of 2016.

Leading the charge were Bettson’s Western European operations which saw their revenues achieve 63% growth, with a 31% organic growth.

However, operating income saw a decline of 21% as it dropped from SEK272.9m down to SEK216m in the same period this year. Betsson expressed that the negative impact was incurred by “currency impacts, increased betting duties and negative contribution from recent acquisitions”.

Betsson AB CEO, Pontus Lindwall explained: “Despite a good finish to the quarter, we are not satisfied with the overall growth in the quarter and Betsson has taken action to improve performance.

“Moreover, NetPlay, which Betsson acquired in April 2017, has not developed as well as planned and measures have been taken to get the business back on track. The Group is committed to continue to develop the product offerings and to achieve good returns on marketiNg spend in order to further capture growth.”

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Harrison Sayers

Gambling Writer

Harrison Sayers is a journalist and editorial professional specialising in the gambling and iGaming sector. He began his career at Gambling Insider, where he served first as Editorial Assistant (July 2017 – November 2017) and then as Staff Writer from March 2018 to October 2018, contributing news coverage and industry analysis to both the publication’s digital and print channels.

Since then, he has continued his career in gambling regulation and compliance journalism, working with GamblingCompliance and VIXIO where he covers regulatory issues and industry developments across European and African jurisdictions.

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