× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine
GGA 2020 AffiliateCon
NEWS 13 February 2020

Betsson struggles in Europe as Q4 revenue drops 10%

By Owain Flanders

Betsson saw revenue of SEK 1.29bn ($134m) for Q4 2019, a decrease of 10% year-on-year.

Casino revenue also fell by 10%, while sportsbook revenue dropped by 9%.

The operator's full-year revenue for 2019 was SEK 5.16bn, down 5% from 2018, while operating income was SEK 865m, a decrease of 38%.

Net income fell 27% at SEK 787.1m, and operating cash flow amounted to SEK 1.15bn, a drop of 10%.

Betsson attributed the decline in revenue to its development in Sweden, Norway and the Netherlands, which “continued to be weak.”

Despite this, the operator was pleased with its sportsbook gross turnover, which it said “had developed strongly both during the fourth quarter and the full year 2019.”

Pontus Lindwall, President and CEO of Betsson AB, said: “The operating profit shows Betsson’s ability to deliver profitability, also during the challenges that 2019 entailed.

“We had expected some recovery in the closing fourth quarter, above all in the Swedish market, but we did not reach our objectives there.

“Up until now, one year after the Swedish re-regulation, we have still not seen the market consolidation that we expect due to the great number of operators, many of them showing no profitability.”

Despite the results themselves, Betsson's share price rose from SEK 45.00 SEK to SEK 48.18 on the morning of its financial update.

RELATED TAGS: Online | Industry | Sports Betting | Financial | Casino
IN-DEPTH 18 February 2020
A decade to remember

1xPartners is the innovative and exciting affiliate program offered by 1xBet, one of the world's leading sportsbooks and casinos. Offering ...
PR and Marketing
ActiveWin has ripped up the rulebook on the traditional agency prototype. Our model is based on performance - as you ...
Systems and Software
BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings ...
Systems and Software
The Leading iGaming Software Supplier in Asia
Digital Isle of Man
Legal and Jurisdictions
Digital Isle of Man is responsible for the thriving Digital sector in the Isle of Man, spanning the Island's international ...
Systems and Software
We have partnered up with deVRealm in a joint venture for the development of new gambling technology platforms. The primary ...
Global Gaming Awards
Industry Awards
The Global Gaming Awards London recognise the most innovative companies and individuals of the gaming world. The Awards are powered ...
Systems and Software
NSoft is an award - winning internationally recognized software solutions provider for betting industry. The company has more than 200 employees ...
Newgioco Group
Systems and Software
Newgioco Group, Inc. (OTCQB:NWGI) is a premier leisure betting technology company providing regulated online and land-based gaming and sports ...
Zimpler provides a complete In and Out payment solution for online services. That means we take care of identifying the ...