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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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Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
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2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
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