27th of October 2010 Author: Johnny Karp
Increase noted in both revenues and profits in Q3
It was reported by Betsson AB, a Sweden-based online gambling group, that they saw favorable results in the third quarter of the year. Some of the report points included:
- Revenues SEK 385.1 (Q3/2009: 316.7) million
- Gross Profit SEK 301.6 (Q3/2009: 253) million
- Operating income SEK 80.7 (Q3/2009: 79.4) million
- Cash SEK 377.3 (Q3/2009: 220.9) million
- Active customers 255 700 (Q3/2009: 220 009)
- Registered customers 2 833 900 (Q3/2009: 1 916 700)
- Customer deposits SEK 913.6 (Q3/2009: 823.6) million
The highest growth was noted in Sportsbook gross turnover, with SEK 1 215 700 (Q3/2009: 634.9) million, with 60% participation of live betting in the growth (Q3/2009 : 30.6 percent), whereas margins were in this period at 8.6 percent, which is an increase of about 1.4% compared to the same period last year (Q3/2009: 7.2 percent).
The following statement was made by Betsson's CEO and President Pontus Lindwell:'The activity level in the different gaming solutions has never been greater. Live betting in Sportsbook is particularly strong, with strong growth on all key markets which is joyous. Large short term operational receivables together with large currency fluctuations during the major part of the quarter increased currency exposure in the short term. This contributed to high cost for currency revaluations. This exposure is now significantly lower.'
According to the report for the first nine months of 2010, the company's revenues grew by 22 percent to SEK 1 118 900 million, while the operating revenue reached SEK 252.9 million (2009: SEK 223.4 million). A 13% increase was noted in the gross year to date income, which amounted to SEK 253.8 million.
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