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Betsson Q3 Earnings
Thursday October 22,2015 : POSITIVE THIRD QUARTER FROM BETSSON
Revenue up by 24 percent
Third quarter revenue at Swedish online gambling group Betsson increased y-o-y by 24 percent to SEK 972.9 million, the company reported Thursday, claiming it as the highest quarterly revenue figure it has yet reported, with organic growth of 15 percent.
The FIFA World Cup represented 1.5 percent of the revenue in the comparative figures for 2014, underlining the company's current success.
Operating income amounted to SEK 260.2 (207.2) million, corresponding to an increase of 26 percent and an operating margin of 26.8 (26.5) percent.
Income before tax amounted to SEK 262.9 (204.1) million, with net income coming in at SEK 247.0 (193.4) million, corresponding to SEK 1.78 (1.40) per share.
Customer deposits in all of Betsson's gaming solutions amounted to SEK 3,237.7 (2,737.3) million, an increase of 18 percent.
Gross turnover in the Sportsbook amounted to SEK 5,506.1 (4,063.3) million, corresponding to growth of 36 percent.
Mobile revenue amounted to SEK 326.1 (176.4) million, an increase of 85 percent. Mobile revenue constituted 34 (23) percent of total revenue in the quarter.
During the quarter the MrSmith Casino brand was migrated to the shared Techsson technical platform.
Europe-Bet contributed SEK 75.2 (-) million to the revenue in the quarter, and SEK 23.0 (-) million to the operating income.
Reporting on its interim results, Betsson revealed that:
* Revenue increased by 21 percent to SEK 2,680.9 (2,220.4) million;
* Operating income was SEK 712.1 (568.7) million;
* Income before tax was SEK 711.6 (558.2) million;
* Net income amounted to SEK 672.7 (527.7) million, corresponding to SEK 4.87 (3.87) per share;
Pontus Lindwall, Betsson's president and CEO, commented: "By continuously analysing a huge amount of data about Internet use and what is relevant for customers, Betsson is able to develop more individually designed experiences. This has contributed to the Casino operations posting organic growth of 19 percent, whilst the product category grew 9 percent in the highly competitive Nordic market. Advancements in how to handle big volumes of data are crucial for the company's sustainable, profitable growth."
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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