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Betsson reports 2nd quarter revenues up 29%

The Swedish online gambling group Betsson AB has reported a solid Q2/2010 set of results showcasing a 29% rise in revenues to $49.1 million. The latest numbers follow a Q1 rise in revenues of 17%.

Operating income in the second quarter rose by 43% over the corresponding period last year to $11.9 million, while pre-tax income was reported up by over 30% to approximately $12 million.

Betsson boosted its cash reserves by $31.4 million to $70.6 million and remains debt-free, according to Management.

Gross turnover in the company's sports book activities soared 91% to $168.2 million, with live betting operations delivering a 207% increase over the same period in 2009 to $95.4 million.

Source: InfoPowa News

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