EBITDA improved from SEK-8.1m to SEK-5.8m from Q4 2019 to Q4 2020, with cash flow from operating activities improving from SEK-2.6m to SEK0.2m.

Scout Gaming’s operator trading index, which measures the underlying customer activity, increased to 2,436 for Q4 2020, a growth of 135% from the same period last year.

“During the full year, total revenue base grew by 84%, despite a strong negative impact from COVID-19 at the end of the first and sizable parts of the second quarter - when the global sports calendar was halted,” said Scout Gaming CEO Andreas Ternström.

“In a longer perspective, COVID-19 has resulted in a faster pace of digitalization in general and for companies operating in the entertainment sector in particular, which has benefited Scout Gaming.”

Full year 2020 revenue meanwhile amounted to SEK46.9m, a 26% year-on-year increase.

“We have updated our internal assessment of the potential size of the European fantasy sports market and currently estimate it to amount to between SEK 5.5-7bn at gross gaming revenue level, which means approximately 2-3% of the entire total online gaming market in Europe,” added Ternström.

“It is an attractive market and we do everything we can to consolidate and expand our position to competitors.”