Betsson Has Strong First Quarter

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."

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