Swedish gambling operator Betsson AB reported its financial performance for the second quarter ended June 30. Overall revenue increased 14% year-on-year to reach SEK860.6 million, compared to the SEK752.3 million posted for the same period a year ago.
The company attributed the excellent performance to the considerable annual growth in its mobile business. Betsson said that its mobile division posted revenue of SEK286 million for this year’s second quarter, up 121% year-on-year.
In addition, operating income increased 12% to reach SEK213.8 million. Income before tax amounted to SEK212.3 million for the period in review, compared to SEK187.5 million posted for the second quarter of 2014. Net income totaled SEK201.6 million. By comparison, the amount of SEK176.6 million was reported last year. Deposits from customers also increased during the period. They totaled SEK3.1 billion, up 19% year-on-year.
Due to its performance during the second quarter of the year, Betsson also posted excellent results for the first half of 2015. Revenue for the period increased 19% to SEK1.7 billion. Operating income rose to SEK451.8 million. Income before tax amounted to SEK448.7 million, compared to SEK354.1 million posted for the same period a year ago. Net income grew to SEK425.7 million.
Magnus Silfverberg, President and Chief Executive Officer of Betsson, commented that he was content with the quarterly results and that they were the best his company has ever posted. Last month, Mr. Silfverberg announced that he would step down from his position as of July 20. He is to be replaced by Betsson’s current Board Chairman – Pontus Lindwall.
Commenting on the company’s performance during this year’s second quarter, Mr. Silfverberg added that it managed to achieve strong organic growth in revenue, net income, deposits, etc., despite the “high comparative figures.”
The official also pointed out that the operator established itself in a number of new countries via acquisitions and above-market growth. Thus, it reduced its operational risk and created prerequisites for further growth.
Last month, Betsson announced that it would purchase Georgia-based gambling company Europe-Bet for the amount of $50 million. In addition, the Swedish operator is to pay $35 million within a year after the completion of the transaction, in case that no changes in Georgia’s gaming regulations are introduced.
