Betsson AB revenue up 11%

ish online gaming specialists Betsson AB have reported an 11% year-on-year rise in their group revenue for the third quarter of 2017.

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.”