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Betsson Reports Second Quarter Growth

18th August

Swedish online gaming group Betsson has issued its financial results for the second quarter showing that revenues increased 63% to $38.76 while operating income increased 29% to $9.83 million.

Income before taxes amounted to $10.04 million while it made $9.35 million after tax.

"The second quarter is normally weaker than the first quarter," said Pontus Lindwall, Chief Executive Officer for Betsson.

"By the offers to customers that we have developed and implemented, we have succeeded to maintain and even increase activities during the second quarter, which makes the quarter our strongest so far."

Scandinavia remains the firm’s largest market with 59% of gross profits while the remainder of Europe accounted for 41%.

The firm’s casino reported a 102% increase in gross profits but this great result was surpassed by the 274% increase from its sportsbook while poker declined 25% compared with the same quarter last year. The firm’s casino operations now account for 60% of its gross profits followed by poker at 19% and its sportsbook with 18%.

 

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