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Betsson reports increased Q3 revenue and profits

Swedish online gambling group Betsson AB reported another solid set of results in its third quarter interim report this week.

Highlights included:

  • Revenues SEK 385.1 (Q3/2009: 316.7) million
  • Gross Profit SEK 301.6 (Q3/2009: 253) million
  • Operating income SEK 80.7 (Q3/2009: 79.4) million
  • Cash SEK 377.3 (Q3/2009: 220.9) million
  • Active customers 255,700 (Q3/2009: 220,009)
  • Registered customers 2,833,900 (Q3/2009: 1,916,700)
  • Customer deposits SEK 913.6 (Q3/2009: 823.6) million

Gross turnover on Sportsbook operations in the third quarter was particularly rewarding, reaching SEK 1,215,700 (Q3/2009: 634.9) million of which live betting comprised 60% (Q3/2009 : 30.6%) with margins at 8.6% this quarter compared with Q3/2009's 7.2%.

Pontus Lindwell, Betsson's president and ceo said, "The activity level in the different gaming solutions has never been greater. Live betting in Sportsbook is particularly strong, with strong growth on all key markets which is joyous. Large short term operational receivables together with large currency fluctuations during the major part of the quarter increased currency exposure in the short term. This contributed to high cost for currency revaluations. This exposure is now significantly lower."

The company also reported on the nine months year to date advising that revenues increased by 22% to SEK 1,118,900 million with operating income well up at SEK 252.9 million (2009: SEK 223.4 million). Year to date income before tax amounted to SEK 253.8 million, an increase of 13%.

Source: InfoPowa News

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