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Online fantasy sports provider Scout Gaming has announced a trading update for the first quarter of 2020, noting that it forecasts growth in the first quarter despite slowdown related to Covid-19.
The company said that revenues for the quarter should amount to between SEK 8.2 million and SEK 8.7 million, up from 134-149% from last year. Up until the suspension of major sporting events around the world last month, Scout was seeing high activity among users. These suspensions have cut into the company's turnover, and moving forward Scout believes the impact will be between SEK 1 million and SEK 1.5 million.
Other detailed information on performance wasn't made available, but Scout did note that they've been able to mitigate some of the harm to their business while lockdown ensue.
Speaking about the results Scout Gaming CEO Andreas Ternstrom said, "Our best guess at the moment is that sports will be resuming successively during the summer. In order to maintain financial stability, we have adapted our cost base through overseeing and hence reducing mainly levels of marketing related costs, but also personnel costs as well as operating costs in general.
"The current situation is by no doubt very challenging, but I'm extremely impressed in how our full organisation put their maximum effort and creativity to handle this in an optimal way. I'm very positive on the outlook of Scout Gaming as we continue to agree significant deals with market leading operators."