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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."

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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