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Good 4th Quarter Results for Betsson

On the right track says chief
Betsson delivered positive fourth quarter and year end figures driven by strong sports book and mobile growth along with a 45 percent increase in customer deposits.
Fourth quarter key performance indicators included:
-   Revenues amounted to SEK 651.9 million (Q4/2011: SEK 515.2 million), equivalent to an increase of 27 percent
-   Operating income amounted to SEK 173.4 million (Q4/2011: SEK 172.3 million)
-   Income before tax amounted to SEK 173.4 million (Q4/2011: SEK 172.9 million)
-   Net income amounted to SEK 166.9 million (Q4/2011:SEK 165.8 million), corresponding to SEK 3.95 million (4.01) per share
-   Income statement is charged with a cost of SEK 39.2 million (Q4/2011: SEK 9.2 million) related to investments in newly regulated markets and software development in China. Income statement is also charged with restructuring costs amounting to SEK 5.8 (-) million.
-   Gross turnover in Sportsbook, including all gaming solutions, amounted to SEK 3,782.8 million (Q4/2011:SEK 2,171.3 million), of which NGG contributed SEK 575.1 million. This represents an increase of 74 percent.
-   Customer deposits in all of Betsson's gaming solutions amounted to SEK 2,154.8 million (Q4/2011:SEK 1,484.5 million), an all time hight that represents an increase of 45 percent
-   Betsson's Board of Directors proposes a transfer to the shareholders, amounting to SEK 410.9 million. Assuming that the number of shares outstanding does not change the proposal involves the transfer of SEK 9.7 per share.
Full year 2012 key performance highlights include:
-   Revenues increased by 27 percent to SEK 2,203.7 million (2011: SEK 1,736,6 million)
-   Operating income amounted to SEK 577.1 million (2011: SEK 559.7 million)
-   Income before tax amounted to SEK 573.6 million (2011: SEK 555.4 million)
-   Net income amounted to SEK 547.8 million (2011: SEK 527.8 million), corresponding to SEK 13.04 (13.12) per share
"The strong organic growth of 23 percent in revenues, 30 percent in Sportsbook turnover and more than 100 percent in mobile revenues from last quarter, shows that Betsson is on the right track.
“Betsson's growth is built on historical investments, and the company continues to invest large amounts in marketing and technology, which intends to secure a future growth rate above that of the market growth," commented Magnus Silfverberg, president and chief executive officer of Betsson.
The first quarter of 2013 is already shaping up nicely as Betsson reports that customer deposits and revenues in the first five weeks of the new year have again reached an all time high driven by high activity.

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Gambling News :

Yggdrasil Gaming Expanding - The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.

FanDuel and DraftKings Settle With NY Attorney General - Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.

Stan james Now Live With EPOS - The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.

Singapore Online Gambling Ban Begins - Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.

Chinese police action against Crown Resorts Widens - In addition to the 18 Crown employees still held after their arrest last week, it now appears that the police questioned 87 Crown punters and junket organizers, detaining 10 of the latter.

Pennsylvania Online Gambling Updates - Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.

WSOPE In Czech Republic - World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.

Medialivecasino in Deal With Microgame - #Medialivecasino live dealer games have already gone live with Microgame joining content from other well-known providers NetEnt and Evolution Gaming.

BtoBet Partners with AfroBet - Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.

Pissed off Tabcorp shareholders - A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.

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