Industry News
Betsson Publishes its First Quarter 2024 Interim Report
Betsson AB has published its interim report for the first quarter of 2024.
Highlights
- Group revenue was EUR 248.2 (221.9) million, an increase of 12%. Organic increase of 25%.
- Casino revenue increased by 19%. Sportsbook revenue decreased by 3% and the sportsbook margin was 6.6% (8.0%).
- EBITDA was EUR 71.6 (54.3) million, an increase of 32%. The EBITDA margin was 28.8% (24.5%).
- Operating income (EBIT) was EUR 57.9 (43.0) million, an increase of 35%. The EBIT margin was 23.3% (19.4%).
- Net income was EUR 42.8 (36.6) million, corresponding to EUR 0.30 (0.28) per share.
- Operating cash flow was EUR 50.0 (48.8) million.
- Net debt was EUR -68.1 (-104.5) million.
- Active customers increased by 15% to 1,281,267 (1,115,641).
CEO’s Comments
“Positive start to the year for Betsson – continued high customer activity and the highest ever operating income”
For Betsson, the first quarter of 2024 was characterised by a continued positive development with high customer activity, good growth and strengthened profitability, as well as new growth-oriented initiatives. Revenue was up 12 percent year over year, and operating income (EBIT) increased as much as 35 percent to a new record level, while the operating margin strengthened to 23.3 (19.4) percent.
After the new president in Argentina took office, a devaluation of the Argentine peso of more than 50 percent was carried out in December, which had a negative effect on reported revenue for the Group in the first quarter. Organically, revenue increased by 25 percent compared to the corresponding quarter of the previous year.
The high customer activity drove strong growth in gaming turnover for both casino and sports betting, with year-over-year increases of 14 and 25 percent, respectively. Casino revenue increased by 19 percent year over year. The sportsbook margin amounted to 6.6 (8.0) percent, which was lower than the average margin for the past two years and meant that the high activity and increased turnover in sports betting was not fully reflected in revenue for the quarter. The lower sportsbook margin particularly impacted revenue in Latin America.
Betsson’s ambition is to generate stable earnings growth in the long run. The strategy to achieve this is based on geographic diversification and growth investments within existing markets, new markets, B2B and M&A. Within existing markets, it can be mentioned that the Betsson brand was introduced on the Italian market in March, at the same time as a collaboration was started with the former superstar of Italian football, Francesco Totti. Italy remains an important market with great potential for Betsson. In addition, Betsson went live in Cordoba, Argentina during the quarter, which means that the Group now offers games under local gaming licenses in three Argentine provinces. In new markets, a new online casino offering was launched in Belgium through the acquired company betFIRST, based on the category A+ license. The license enables a complete online casino offering including slots, table games and live casino. B2B continues to be an important strategic area where previous years’ investments continue to bear fruit and continued to perform strongly during the quarter. In terms of M&A, a gaming operator licensed in the Netherlands that offers casino games via the websites www.goldruncasino.nl and www.goldruncasino.com, and a game studio that develops casino games, were acquired in February. The transaction is subject to an approval from the Dutch gambling authority before the integration work can begin.
Sustainability is an important part of Betsson’s strategy and for the second year in a row Betsson sponsored the Consumer Protection Zone at the ICE gaming fair in London. This part of the fair aims to increase knowledge about responsible gambling and all proceeds from this part go to organisations that work with responsible gambling.
After the positive start to the year, we now look forward to following the final rounds of the European football leagues and cups, before it is time for the best national football teams to measure their strengths in the UEFA Euro 2024 and Copa America in June and July. There is football fever out there and within the entire organisation a number of activities are already underway to ensure that Betsson will be able to deliver a powerful player offering for new and existing customers during these major championships. See you this summer!
The post Betsson Publishes its First Quarter 2024 Interim Report appeared first on European Gaming Industry News.
game studios
Evoplay rolls out Season of Legends campaign with €512,000 spring prize pool
Evoplay has launched Season of Legends, a year-long network campaign built around four seasonal phases, starting with a spring edition carrying a €512,000 prize pool. The spring phase launched in March and runs across March, April and May.
The studio said the new format follows its previous Big Adventures network campaign and is designed to drive sustained engagement through a more structured seasonal approach. Each season runs for three months with new mechanics and prize pools.
A new mechanic, Infinity Prize Drops, will run daily throughout each month and is not tied to tournament windows. The spring edition also includes a Tournament and Wheel of Fortune, each operating in four monthly phases: 1st- 5th, 9th- 13th, 17th- 21st, and 25th- 29th.
Evoplay said the €512,000 spring prize pool will be distributed across the three-month period via a consolidated leaderboard spanning participating operators. Players earn points through qualifying spins on selected Evoplay titles including Hot Triple Sevens, Piggy Bank: 3 Pots Bonanza, and the Penalty Shoot-out series.
Diana Larina, Head of Marketing at Evoplay, said: “Season of Legends marks the next evolution of our network campaigns. With Big Adventures, we saw just how effective long-term engagement can be, and this new format takes that even further.
“By introducing seasonal structure and mechanics like Infinity Drops, we’re giving operators the tools to maintain consistent player activity, rather than relying on short-term spikes. This is just the beginning, and we’re excited to build momentum throughout the year.”
The post Evoplay rolls out Season of Legends campaign with €512,000 spring prize pool appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
executive-moves
Swintt appoints Etienne Azzopardi as Managing Director
Swintt has appointed Etienne Azzopardi as Managing Director, confirming its former COO in the permanent role after a three-month interim period that began in January. The move follows the departure of outgoing CEO David Mann, as the company continues a wider strategic restructure.
Swintt said Azzopardi will lead product strategy, future market expansion and team development. During his interim term, the company said it released 12 titles, including three games under its Elysium Studios label.
The supplier also pointed to two partnership deals signed during the same period: NetBet adding Swintt content for Greece, and SkillOnNet taking Select, Premium and Elysium Studios games across its .com, UK and MX brands.
Looking ahead, Swintt said it plans to maintain monthly content output and pursue further growth in regulated jurisdictions. The company added that Switzerland is scheduled to be its next major market target in 2026.
Etienne Azzopardi, Managing Director at Swintt, said: “I’m delighted to have been appointed Managing Director at Swintt. Since joining the company in 2021, I’ve had a hand in everything from operational management and roadmap optimisation to market licensing and game certification, and the experience I’ve picked up in those four and a half years will prove crucial in my new role.
Having spent three months acting as Interim Managing Director, I feel very privileged to be taking the role on a permanent basis and believe this will be the catalyst for Swintt to continue its outstanding recent growth in regulated markets worldwide. With a packed product roadmap already planned for 2026, it’s going to be an amazing journey and I’m excited to continue growing the Swintt brand.”
The post Swintt appoints Etienne Azzopardi as Managing Director appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Free spins
3 Oaks Gaming adds Flexible Free Spins to its promo tools
3 Oaks Gaming has added a new bonus mechanic, Flexible Free Spins, to its promotional tools offering, the company said.
The feature allocates free spins based on a total value rather than a fixed number of spins at a set stake. Players can then select how to use the award from up to 20 options, choosing between different combinations of bet size and spin count while staying within the same budget.
3 Oaks Gaming said each option is mathematically pre-calculated to remain within the defined value. When the award is issued, players see a modal pop-up with the available choices, with the default selection set to the median option.
Anna Nozdran, Acting Product Owner at 3 Oaks Gaming, said: “Flexible Free Spins deliver a fresh take on the traditional bonus setup within an online slot, providing players with greater control over their gameplay experience that suits their preferences.
“Every option is pre-calculated within the same budget, ensuring consistency for operators while offering a more dynamic experience for players. We firmly believe this new addition will complement the existing 3 Oaks Gaming portfolio and deliver greater value for our partners.”
The post 3 Oaks Gaming adds Flexible Free Spins to its promo tools appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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