Betsson continues its upward run

Swedish online gambling group Betsson AB continued its upward swing with the report of another solid set of results for Q3/2011.

Key performance indicators for the period January 1 to September 30, 2011 include:

–     Revenues amounted to SEK 465.7million (Q3/2010: SEK 385.1 million) and the operating margin amounted to 32.8 percent (Q3/2010: 21.0 percent)

–     Operating income amounted to SEK 152.8 million (Q3/2010: SEK 80.7 million), equating to an increase of 89 percent

–     Income before tax amounted to SEK 146.5 million (Q3/2010: SEK 80.7 Million)

–     Net income totaled SEK 138.4 million (Q3/2010: SEK 76.3 million) corresponding to SEK 3.40 (Q3/2010: SEK 1.94) per share

–     Betsson has no interest-bearing liabilities and liquid funds amounted to SEK 490.3 million (Q3/2010: SEK 377.3 million)

–     Number of registered customers has grown to 3.4 million (Q3/2010: 2.8 million) players, an increase of 21 percent

A company spokesperson revealed that three new B2B collaborations were launched during the quarter, GunnersGaming.com, a niche casino offering on harrycasino.com and Portuguese facing sports betting website dhoze.com.   Additionally, Betsson has applied for gaming licenses in Italy and Denmark and the integration of Betsafe is developing according to plan.

Magnus Silfverberg, president and chief executive officer, Betsson commented: “The B2C segment is displaying the highest level of underlying activity which we have ever seen and the B2B segment has launched three new collaborations. At the same time, we are adapting the Group to comply with new regulations across Europe. Being able to make these changes while posting good results is proof of our strength.”

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