Betsson Reports: Second Quarter is the Strongest So Far
October 12th, 2008Author: Trinette Brasseur
Betsson, Swedish online gambling group, having released its financial results for the second quarter, shows that its revenues have increased 63% to $38.76 million, while operating income increased 29% to $9.83 million.
Betsson’s first betting shop has been recently opened in Stockholm. There are also betting shops in Serbia and the Netherlands, but it is Scandinavia that brings 59% of gross profits while the remainder of Europe accounted for 41%.
There has been a 102% increase in gross profits, 274% increase from its sportsbook. Unfortunately poker decreased 25% in comparison with the same quarter last year.
Currently the firm’s casino activities account for 60% of its gross profits followed by poker at 19% and its sportsbook with 18%.
Pontus Lindwall, Chief Executive Officer for Betsson comments: “By the offers to customers that we have developed and implemented, we have succeeded to maintain and even increase activities during the second quarter, which makes the quarter our strongest so far.”
