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NEWS 19 July 2019

Betsson revenue down for Q2, despite sportsbook boost

By Tim Poole

Operator Betsson was only able to report a 2% year-on-year growth in H1 revenue, to SEK 2.6bn ($280m), while Q2 revenue fell 5% to SEK 1.27bn.

Accompanying Betsson’s slow H1 growth, its operating income was down 12% to SEK 452.1m.

The second quarter was a time of particular struggle for the company, which it attributed to geographical and regulatory issues.

Casino revenue dropped 10% for the quarter, while operating income fell from SEK 300.7m to SEK 196.9m.

There was a positive for the operator in sportsbook revenue growth however, which went up 14% for Q2.

Betsson CEO Pontus Lindwall said: "The gaming industry is facing changes and the second quarter posed challenges in several of Betsson’s important markets.

"In Sweden, the SGA (Swedish Gaming Authority) revoked one license while other operators have received warnings and fines, including one of Betsson’s operational subsidiaries.

"Betsson has appealed the fine based on the opinion the company was operating within the given guidelines."

RELATED TAGS: Casino | Financial | Sports Betting
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