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Betsson Q2-2014 Reports
Friday July 18,2014 : FURTHER GROWTH AT BETSSON IN Q2-2014
Revenues up 30 percent as Oranje and Kroon online casinos deliver.
The Swedish online gambling group Betsson has posted another strong set of quarterly results, reporting that in Q2-2014 revenues soared 30 percent to SEK 752.3 million (Euro 81.5 million) through organic growth and the success of recent online casino acquisitions Oranje and Kroon.
The company said that sportsbetting had also experienced strong growth, due mainly to wagering on the recently concluded World Cup, which was responsible for 4 percent of the quarter's revenue.
High points included:
* Organic growth of 15 percent during Q2
* Gross profit up at SEK 629.7 million (Q2-2013 SEK 482.7 million)
* Operating income at SEK 190.4 million (Q2-2013 SEK 137.8 million)
* Sportsbook turnover at SEK 827 million, a record for the company
* World Cup football final accounted for SEK 38 million of total turnover, almost three times of the average amount wagered per match in the preliminary stages
* Second quarter financial gains mean that Betsson's H1-2014 revenues are now over SEK 1.4 billion, with gross profit around SEK 1.2 billion and operating income close to SEK 361.5 million.
Magnus Silfverberg, president and chief executive officer of Betsson, said that the outstanding growth underscored the continuing success of Betsson's strategic initiatives.
“The World Cup has exceeded our expectations and the strong customer intake together with the high reactivation of existing customers bodes well for the future,” he said.
In related news, Betsson announced the relaunch of the former Harry's Casino under a new branding more suitable for use in the imminent point-of-consumption online gambling market in the UK, scheduled for implementation later this year.
Rebranded Mr Smith Casino, the revamped site will continue to be operated by Betsson's Malta subsidiary BML Group.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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