Betsson Fourth Quarter Financials Show 45% Jump In Deposits

Internet betting group Betsson has released its fourth quarter 2012 financial results, noting a rise in revenues and customer deposits.

Key financial indicators for the period ending December 31st, 2012 were:

• Revenues amounted to SEK 651.9 million , compared to SEK 515.2 million in 2011, equivalent to an increase of 27%

• Operating income amounted to SEK 173.4 million compared to SEK 172.3 million in 2011

• Income before tax amounted to SEK 173.4 million compared to SEK 172.9 million in 2011

• Net income amounted to SEK 166.9 million compared to SEK 165.8 million in 2011, corresponding to SEK 3.95 million (4.01) per share

• Income statement is charged with a cost of SEK 39.2 million compared to SEK 9.2 million in 2011 related to investments in newly regulated markets and software development in China . Income statement is also charged with restructuring costs amounting to SEK 5.8 (-) million.

• Gross turnover in Sportsbook, including all gaming solutions, amounted to SEK 3,782.8 million compared to SEK 2,171.3 million in 2011, of which NGG contributed SEK 575.1 million. This represents an increase of 74%.

• Customer deposits in all of Betsson's gaming solutions amounted to SEK 2,154.8 million compared to SEK 1,484.5 million last year, an all time hight that represents an increase of 45%

• Betsson's Board of Directors proposes a transfer to the shareholders, amounting to SEK 410.9 million. Assuming that the number of shares outstanding does not change the proposal involves the transfer of SEK 9.7 per share.

For the whole year, key financials showed:

• Revenues increased by 27% to SEK 2,203.7 million compared to SEK 1,736,6 million in 2011

• Operating income amounted to SEK 577.1 million compared to SEK 559.7 in 2011

• Income before tax amounted to SEK 573.6 million compared to SEK 555.4 million in 2011

• Net income amounted to SEK 547.8 million compared to SEK 527.8 million in 2011, corresponding to SEK 13.04 (13.12) per share

Commenting on the report Betsson CEO and President Magnus Silfvrberg said: “Betsson's growth is built on historical investments, and the company continues to invest large amounts in marketing and technology, which intends to secure a future growth rate above that of the market growth."

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