Its operator trading index, which shows the amount of client activity, increased to 2,652 from 1,004, a rise of 164%.

Meanwhile, EBIDTA was SEK -15.0m compared to 2020’s 11.7m but the net result had improved from SEK-9.8m to SEK-9.3m.

Earnings per share was also a negative as it amounted to SEK -0.5.

During the first quarter the company reached an agreement with AB Trav & Galopp, ATG. As part of the agreement, the companies have agreed to launch Scout Gaming’s daily fantasy sports product on ATG.se.

Scout Gaming says a soft launch could happen in the second quarter of 2021, while a “wider marketing” push is expected in the third quarter, in time for the start of the English Premier League.

Scout Gaming CEO, Andreas Ternstrom, said: “We continue to build the European fantasy sports market at a rapid pace. This is primarily illustrated by Scout Gaming's Operator Index, which measures underlying customer activity.

“Revenues increased by 54% to SEK 13.4m during the first quarter. In line with our strategy, growth is driven by a combination of new launches by B2B customers, increased price pools and growth in underlying activity. Despite the growth, we are only at the very beginning of the introduction of Fantasy Sports in the online gaming market in Europe.”

After the quarter ended, the sports entertainment provider entered into a software license agreement with German operator Interwetten. Interwetten hopes to launch Scout Gaming’s prediction game for this summer’s Euro 2020.