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Betsson solid set of results for Q3/2011
Friday, October 28, 2011 : All time high for Swedish group
Swedish online gambling group Betsson AB continued its upward swing with the report of another solid set of results for Q3/2011.
Key performance indicators for the period January 1 to September 30, 2011 include:
- Revenues amounted to SEK 465.7million (Q3/2010: SEK 385.1 million) and the operating margin amounted to 32.8 percent (Q3/2010: 21.0 percent)
- Operating income amounted to SEK 152.8 million (Q3/2010: SEK 80.7 million), equating to an increase of 89 percent
- Income before tax amounted to SEK 146.5 million (Q3/2010: SEK 80.7 Million)
- Net income totaled SEK 138.4 million (Q3/2010: SEK 76.3 million) corresponding to SEK 3.40 (Q3/2010: SEK 1.94) per share
- Betsson has no interest-bearing liabilities and liquid funds amounted to SEK 490.3 million (Q3/2010: SEK 377.3 million)
- Number of registered customers has grown to 3.4 million (Q3/2010: 2.8 million) players, an increase of 21 percent
A company spokesperson revealed that three new B2B collaborations were launched during the quarter, GunnersGaming.com, a niche casino offering on harrycasino.com and Portuguese facing sports betting website dhoze.com. Additionally, Betsson has applied for gaming licenses in Italy and Denmark and the integration of Betsafe is developing according to plan.
Magnus Silfverberg, president and chief executive officer, Betsson commented: “The B2C segment is displaying the highest level of underlying activity which we have ever seen and the B2B segment has launched three new collaborations. At the same time, we are adapting the Group to comply with new regulations across Europe. Being able to make these changes while posting good results is proof of our strength.”
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Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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