Published
OnlineIndustry

Betsson hopeful Swedish market will improve as Q3 revenue falls

Betsson revenue was SEK 1.28bn ($132.7m) for Q3 2019, a decrease of 11% year-on-year.

BetssonStockholm

EBITDA was SEK 304.2m, down 28%, while operating income was SEK 212.5m, a 38% decrease. Casino revenue also fell 12% to SEK 942.2m.

However, despite decreasing 7% to SEK 314.6m, sportsbook revenue would be in line with last year, excluding all revenue from the football world cup.

Betsson attributed the decline to "continued weak trends in Sweden and the Netherlands," which has seen the operator’s revenue fall 3% for the year-to-date, to SEK 3.89bn.

The operator outlined plans to "outgrow" the Swedish market through acquisitions, while compensating losses with subsidiary revenue in other markets.

Betsson AB CEO Pontus Lindwall said: "Like the previous quarter, the third quarter has continued to pose challenges for us, as well as for several other companies in the gaming industry.

"As the conditions in Sweden have not been right for large marketing investments, activities have been reduced and reallocated to other markets where they provide better returns.

"However, we are certain the Swedish market will improve and we stick to our long-term ambition to increase our share in this re-regulated market."

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Resorts World Las Vegas
Star Sports Group
Hard Rock Hotel & Casino Tejon
Follow Us

Facing Facts: Analysing figures from emerging gambling markets

Where is the gambling market on the rise, and are there any...

Taking Stock: A guide to lottery/iLottery operator and supplier prices

Gambling Insider tracks lottery/iLottery operator and suppli...

New Horizons Cover Feature: United Arab Emirates

With its first land-based casino set to open in 2027 and a n...

New Horizons Cover Feature: Brazil

Brazil performed quite the feat by getting its heavily delay...

The best of Malta at the Global Gaming Awards

Powered by Gambling Insider, the Global Gaming Awards are th...

Preview: SiGMA Malta 2024

A place in the winter sun: SiGMA returns to the home of iGa...

Company profile: Soft2Bet

Bill 55: Advantages and challenges for Maltese operators in...

Company profile: DS Virtual Gaming

DS Virtual Gaming is a leader in the gaming industry, utilis...