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INVESTORS BET ON BETSSON

Betsson investors will have something positive to cheer them up in these trying economic times following the release this week of record quarterly numbers from the Swedish listed company. Third-quarter figures for the three-month period to the end of September, saw revenues rise 52 percent to SEK 252 million (Q3 2007:SEK 165.5 million); operating profit up 26 percent to SEK 67.8 million (SEK 53.7 million last time) and active customer numbers soar by 40 percent to 127 300 (90 800 in 2007).
 
On a quarterly basis, Betsson’s casino operations contributed 62 percent of the group’s gross profits, up 14 percent. The contribution from other products grew by 29 percent, poker only 4 percent, while the sportbook contribution remained steady.
 
The company has maintained its feisty stance against Swedish monopolistic practices which saw it open a land betting shop in Stockholm in defiance of threats from the gaming authorities (see previous InfoPowa report) Betsson reports that following a complaint from gaming officials about the shop, the local police opened an investigation and a fine was imposed. Despite these intimidatory moves, Betsson is adamant that it is operating within European Union law and intends to keep the shop open pending positive developments now taking place on the regulatory front.
 
Fourth-quarter trading looks set to carry on the positive trend, the report indicates. October producing “all time high” revenues, and the firm launched an enhanced affiliate programme called Affiliate Lounge. The company's statement notes that player and consumer confidence levels in online gambling were high and increasing, with net sales since 2005 up by 1 200 percent.
 
Presenting the financials for the nine-month period starting in January 2008, Betsson said revenues increased 56 percent to SEK 716.7 million (YTD 2007: SEK 459.2 million), while operating profit increased to SEK 184.7 million - up 26 percent.  Pre-tax profits for the period reached SEK 187 million compared - well up on last year's SEK 147.5 million. Casino growth rose 77 percent over the same third quarter period last year while revenues from other company offerings grew 471 percent. Not faring so well was the online poker activities of the firm, which declined 29 percent.  The sportsbook operations, however, delivered a stellar 188 percent growth in revenues.
 
Scandinavian markets, which comprise 62 percent of Betsson's action, grew 17 percent on a quarterly basis to SEK 126.9 million, compared with SEK108 million last year. Business from the European Union nations outside the Nordic region slowed, with growth declining by 3 percent to SEK 21.6 million and represented 27 percent of Betsson's business. Non-EU countries including Turkey grew 2 percent to SEK 55 million making up the remaining 11 percent of the firm’s player base.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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