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Betsson reported robust full year 2016 results

ROBUST FULL YEAR RESULTS FROM BETSSON

Investment in product and acquisitions expected to pay dividends in 2017.

Betsson reported robust full year 2016 results delivering a strong performance and outstripping growth in its largest market, the Nordics.

Key performance highlights for the 12 months ending December 31, 2016 were:

-    Group Revenue increased by 11 percent to SEK 4,117.3 million (2015: SEK 3,722.0 million).

-     Casino revenue, which constitutes 71 percent of Betsson's total revenue, grew 14 percent.
 
-    Operating income amounted to SEK 946.4 million (2015: SEK 886.4 million), and the operating margin was 23 percent (2015: 23.8 percent).

-    Net Income amounted to SEK 878.0 million (2015: SEK 831.7 million), corresponding to SEK 6.34 (2015: SEK 6.02) per share.

-    Cash flow from operating activities amounted to SEK 1,168.5 million (2015: SEK 1,154.5 million).

While Betsson expects investment in its sportsbook and the acquisition of RaceBets to contribute positively during full year 2017, the company said its positive momentum has already carried through into the first quarter of 2017, which has started off strongly.

Commenting on the results, Ulrik Bengtsson, chief executive officer of Betsson AB, said:

"Increased investments in product development, higher share of revenue from regulated markets and less revenue from countries with high margin have had a negative impact on earnings during the year.

“The operating margin for the full year was 23 percent despite a very weak second quarter. This shows that Betsson has a good balance in its business and can absorb both temporary revenue decline and increased costs, over time." 

Betsson’s Board of Directors has proposed distribution of SEK 658.9 million (2015: SEK 624.3 million) to shareholders, corresponding to SEK 4.76 (2015: SEK 4.51) per share.



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NBA Odds: Will Cavaliers Be Rusty in Game 1? - The Boston Celtics needed seven games to get past the Washington Wizards, but they got the job done Monday night, winning 115-105 as 5.5-point home favourites. Next up: the defending champion Cleveland Cavaliers, who visit the Garden Wednesday night at 8:30 PM ET on TNT.

4 New Microgaming Releases in May 2017 - Candy Dreams is a 720 ways to win, variable reel game. Players spin on a colorful reel area filled with candy treats, as they play towards enticing bonus triggers.

PKR Company Statement Update - Microgaming can confirm that David R Taylor and Matthew R M Wild of RSM Restructuring Advisory LLP were appointed Joint Administrators of PKR Ltd and PKR Technologies Limited on 11 May 2017 by the High Court, Chancery Division.

Microgaming Wins The Spark Award 2017 - The Spark Award celebrates organisations that experiment with ways of working differently. Previous winners include GCHQ and Places for People. It’s a part of Spark the Change, a global movement dedicated to empowering people and building happier workplaces.

NHL Predators First Ever Conference Finals Appearance - With three of the team’s top four point scorers residing on the blueline, the Nashville Predators have found a strategy that frustrates even the best in the West. After qualifying as the lowest-seeded Western Conference team, the Predators made quick work of the Chicago Blackhawks (4-0) and St. Louis Blues (4-1) in the first two rounds.

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