Betsson Has Strong First Quarter

Apr 27, 2012 by CasinoListings

Online betting firm Betsson has released its first quarter 2012 financial results, displaying a company wide growth of 48%.

Key financial indicators for the period ending March 31st were:

First quarter operating income increased by 32% to SEK 174.1 (131.8) million
Revenues amounted to SEK 536.1 (417.4) million, equivalent to an increase of 28%
Operating margin came in at 32.5 (31.6) percent
Income before tax was SEK 171.0 (132.6) million
Liquid funds amounted to SEK 588.4 (535.8) million
Active players were up at 405,000 (Q1-211,335,500
B2B Sports operations produced gross turnover of SEK 998.6 million (Q1-2011 SEK 640,8 million) and gross profit at SEK 63.2 million.
B2C Sports operations delivered gross turnover of SEK 645.5 million (Q1-2011 SEK 146.7 million) and gross profit at 44.6 million on a 6.9% margin.

Operational highlights for the Swedish company were:

Betsson paid the final supplementary purchase price of €12.5 million to Betsafe’s former shareholders during the quarter, by providing 608,817 newly issued Class B shares in Betsson
Betsson launched four new gaming sites on the newly regulated Danish market during the quarter
The company signed a share transfer agreement to acquire Nordic Gaming Group

Commenting on his company's goal of developing its sportsbook, company President and CEO Magnus Silfverberg said: “Betsson is strengthening its position prior to the European Championship in football through another acquisition which adds more Sportsbook players."