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Svenska Spel H1-2016 Numbers
FLAT PERFORMANCE FROM SVENSKA SPEL IN H1-2016
Swedens state-run online and land gambling company bemoans tough competitive conditions.
Swedens state-run online and land gambling group Svenska Spel has posted a mediocre and largely flat set of numbers for the first half of 2016, bemoaning tough competitive conditions in the market.
Highlights of the report include:
* NGR up 1 percent year-on-year at SEK4.4 billion (Euro 463.4 million);
* Operating profit up 0.9 percent y-o-y at SEK2.4 billion;
* Net income up 1.2 percent to SEK2.4 billion, with a slightly lower operating margin of 22.1 percent;
* Online operations accounted for most of the growth, increasing 9 percent in the second quarter, while sales via mobile phones increased by 53 percent. In June, the company launched an app for the Euro 2016 football championship that was downloaded by over 170,000 people.
The company reported that the second quarter was particularly tough. with net gaming revenue down 2.4 percent on a y-o-y basis at SEK 2.1 billion, and operating income declining 4.8 percent to SEK 1.1 billion. Profit for Q2-2016 declined 3.3 percent y-o-y to SEK 1.1 billion on a lower 21 percent margin.
Chief executive officer Lennart Käll reported to shareholders:
“We increased net gaming revenue overall for the first half compared with the previous year. However, we saw a drop in growth, particularly during May, which affected the second quarter negatively, but from June we once again see growth.
“We will continue to strengthen customer relations further and increase the pace of innovation by delivering new experiences, new products and services."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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