Scout Gaming Reports Losses in First Quarter

This story was published more than 1 year ago.

Online fantasy sports firm Scout Gaming has posted their first quarter financial results, noting that they had higher losses even though their revenue rose sharply.

Key financial indicators for the first quarter ending March 31st, 2019 were:

  • Total Operating Revenues of SEK3.5 million, up from SEK1.5 million last year
  • Quarterly costs of SEK20.5 million, up from SEK10.4 million last year
  • Personnel expenses up to SEK11.5 million from SEK6.1 million last year
  • Operating loss of SEK17 million
  • Pre-tax loss of SEK16.12 million
  • Financial income of €859,000

In spite of the loss the company's CEO Andreas Ternstrom said, "As the fantasy vertical outside the US still is at an early stage, the typical customer development is strong growth from a small base, with a sharp growth gradually increasing.

"During the quarter, we have continued to roll out our products in new markets and are now live, albeit small-scale, in both North and South America, Asia and Europe."

"As markets mature, new products are being demanded and we quickly get on the radar as an attractive alternative for companies wanting a broader sports offering."

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.