BUSINESS

Betsson post big revenue increases

TAGs: Betsson

Betsson logoScandinavian-based Betsson lauded their sportsbook and mobile products as they saw revenues rise by 27 percent for both the fourth quarter and full year. The company’s results showed that Q4 revenues rose to SEK 651.9million with operating income experiencing a small increase to SEK 173.4m. Full year revenues rose by 27 percent as they hit SEK 2,203.7m with operating income increasing to SEK 577.1m. The income figures for both periods would have been bigger had they not spent big on newly regulated markets and software development in China. Both could bear considerable fruit in future and it’s this they’ll be hoping for.

Magnus Silfverberg, President and CEO of Betsson, added: “The strong organic growth of 23 percent in revenues, 30 percent in Sportsbook turnover and more than 100 percent in mobile revenues from last quarter, shows that Betsson is on the right track. Betsson’s growth is built on historical investments, and the company continues to invest large amounts in marketing and technology, which intends to secure a future growth rate above that of the market growth.”

Breaking down across the different verticals showed that the company’s mobile sportsbook took total bets of SEK 308.5m in Q4 alone – 8 percent of the total gross turnover from sports betting. For the firm as a whole mobile gaming now accounts for 7 percent of total revenues and it means an increase of 100 percent compared with Q3. The firm expects this growth to continue and they admitted they expected revenues to “increase significantly” during the next year.

Sportsbook had an equally impressive quarter as gross turnover rose 74 percent to SEK 3,782.8m, which included a contribution of SEK 575.1m from the recently acquired Nordic Gaming Group (NGG). Deposits across the entire business rose to by 45 percent to an all-time high of SEK 2,514.8m with much of this down increased marketing efforts. As public companies go Betsson are on of the models that should be imitated and they’re only likely to grow even stronger as 2013 continues.

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