The popular provider of casino products and services, Betsson AB, released a report about its financial performance during the first quarter of the current fiscal year. According to the numbers posted, the company has registered a revenue growth of 24% as compared to the results posted a year earlier.
The impressive growth was mainly due to the successful consolidation of Betsson’s multi-brand on the market.
During the first quarter of 2015 the revenue generated amounted to SEK847 million or £65 million, which means that an increase of £12 million was posted. As for the profits, the jump was 39% or the amount of SEK238 million (£18.2 million) was generated. The 28% increase in the operating margin is a major accomplishment the company has achieved during the registered period.
The first quarter of 2015 was eventful and profitable as far as the sportsbook is concerned. The gross revenue reached SEK6 billion or £460 million and the revenue generated via mobile gaming was solid as well. It jumped to SEK233.3 million or £17.8 million.
Speaking of profitable quarterly results, the revenue generated by casino games was also stable. An increase of 28% YOY was registered but market analysts attributed it mainly to the fact that exactly one year ago Oranje and Kroon were acquired.
During the first quarter, the number of players’ deposits also increased to reach SEK3.2 billion or £240 million. Another milestone in Q1 was the expansion of Betsson in Italy and the United Kingdom and the fact that the company attracted more players from both countries.
Magnus Silfverberg, the Chief Executive Officer of Betsson, commented on the solid revenue increase and said that the efforts put into the development of the aforementioned multi-brand strategy are now paying off. However, a few weeks ago, two brands that failed managers’ expectations were closed – Maxino and DanmarksAutomaten.
Mr. Silfverberg went on to say that Betsson executives are always looking for new opportunities for expansion through acquisition, consolidation of new brands on the markets or whenever necessary – closing the underperforming ones.
Speaking of business expansion, Betsson has gained control over Betsson.com, which used to be on a B2B arrangement.
Betsson CEO remained tight-lipped as to whether the operator will acquire Europe-Bet for the amount of €100 million but emphasized that the company will continue to seek new favorable circumstances for further development.
