Betsson Sees Revenues Jump

Sweden based internet wagering group Betsson has released its second quarter 2012 financial results, noting a 44% increase in revenues.

Key financial indicators for the period ending June 30th were:

• Operating income up by 7% to SEK 109.5 million

• Active customers up at 5,087,000 from 3,359,000 in the same quarter last year

• Income has been negatively impacted by non-recurring costs amounting to SEK 10.0 (10.1) million, which refers to acquisitions and distribution of shares

• The Sportbook margin after free bets was 4.6 (5.9) percent, which represents the lowest ever in one quarter and is explained by an extra strong seasonal pattern

• Income before tax amounted to SEK 110.9 (103.3) million

• Net income totaled SEK 105.4 (97.9) million, corresponding to SEK 2.54 (2.47) per share

• Deposits in all of Betsson’s gaming operations amounted to SEK 1,505.1 (1,148.2) million, a new record for the company and an increase of 31%

• The acquisition of Nordic Gaming Group was completed with closing on June 20, 2012

• Due to the acquisition, by the end of the quarter Betsson had an external credit amounting to SEK 431.8 (50,0) million, and the liquid funds amounted to SEK 342.3 (195.6) million

• The first gaming solution under own licence on the Italian market was launched

Year to date numbers show:

• Revenues increased by 35% to SEK 1,022.2 (755.6) million

• Operating income amounted to SEK 283.5 (234.5) million

• Income before tax amounted to SEK 281.9 (235.9) million

• Net income totaled SEK 267.7 (223.5) million, corresponding to SEK 6.41 (5.66) per share

Betsson President and CEO Magnus Silfverberg commented on his company's performance, saying: ”Betsson is strengthening its position as a sportbooks operator through a broader sportsbook offering with even more mobile solutions."

"In addition, several technical development projects have been undertaken with the purpose of securing future growth and profitability. This, together with the highest activity level ever and the all time high in deposits, indicates a continued strong development for Betsson.”

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