Swedish online gambling firm Betsson AB presented its Q4, 2010 and full year 2010 financial results this week. Betsson reported gross turnover in its Sportsbook of SEK 1,894 million corresponding to an increase of 151%, of which live betting in the sportsbook amounted to SEK 1,144 million, an impressive increase of 393% compared to Q3, 2010.
Quarterly customer deposits were in excess of SEK one billion, the Group's highest level of deposits to date for an individual quarter.
Strong full year results to December 31, 2010 show an increase in revenue to SEK 1,603.2 million, an increase of 23% over 2009. Betsson's net income totalled SEK 365.7 million (2009: SEK 303.3 million). Gross turnover on sportsbook for the period amounted to SEK 5,355.7 million (2009: SEK 2571.5 million), of which live betting accounted 55.3%.
Key performance milestones for the full year period ending 31 December 2010 included Betsson establishing operations in India, securing a B2B-contract with an Asian operator, reaching a deal to sell its Turkish client-base and signing a B2B-contract for the delivery of a complete gaming platform.
Betsson reported that in line with its B2B-strategy, it has entered agreements in 2011 with the objective of initiating a joint venture in Italy and another to establish operations in China together with a Chinese state-owned company
Pontus Lindwall, Managing Director and CEO of Betsson AB commented: "Players in the Nordic regions, as well as in other regions, are aware that Betsson offers one of the world's best sportsbooks and Betsson can, therefore, report growth of 78% in sportsbook for the full year 2010."
"At the same time, Betsson has shown that the company is a technically leading B2B-supplier of gaming platforms which are in demand in a variety of global locations."