One of the most reputable gambling companies, Betsson Group, has presented their financial report for the first quarter. Despite strict regulations existing in Sweden where the firm operates, the corporation demonstrated the impressive results for the first three months of the year.
Here, you can see the primary financial indicators for the period from January 1st till March 31st, 2020:
- Profits amounted to SEK 1.33 billion which is 10% higher than in 2018;
- Total casino earnings were SEK 1.012 billion (a 10% growth from last year);
- Turnover for sports betting was SEK 6.34 billion;
- Revenues for services were SEK 431.5 million;
- Profits for sports betting grew up to SEK 297.8 million (the increase from the previous year is 13%);
- Operating costs included SEK 643.9 million;
- Mobile devices brought a 68% profit;
- Staff expenses decreased to SEK 198.8 million;
- Marketing charges fell to SEK 241.2 million;
- Total income was SEK 899.1 million, (up 4% from the previous year);
- EBITDA was SEK 345.8 million (up 22%);
- Operating profits increased by 21% up to SEK 255.2 million;
- Net profit was 22% higher up to SEK 229.3 million.
Now, the Swedish gambling market experiences a challenging start. According to Pontus Lindwall, the Betsson CEO, the performance of the corporation is growing. But it is still not the right moment to draw any long-term conclusions. He also mentioned that the company had spent high costs for welcome offers to attract new clients. The second quarter of the year brought the stabilization of the situation, especially related to the number of new clients and customer volumes. Despite the discussions in the Swedish market as for the rules for content and marketing volumes, Betsson financial results show positive dynamics.
