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Betsson Group – strong full-year operating profit thanks to geographical spread and efficient organisation

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QUARTER OCTOBER – DECEMBER 2019

  • Group revenue was SEK 1,289.5 (1,436.6) million, a decrease of 10 percent with an organic  decrease of 11 percent.
  • Casino revenue declined by 10 percent and Sportsbook revenue declined by 9 percent. The sportsbook margin was 6.8 (7.3) percent.
  • Operating income (EBIT) was SEK 200.5 (341.5) million. The variance was mainly due to decreased revenue. The EBIT margin was 15.5 (23.8) percent.
  • Operating cash flow amounted to SEK 237.8 (289.3) million.

FULL YEAR 2019

  • Group revenue was SEK 5,173.0 (5,419.8) million, a decrease of 5 percent, reported and organic.
  • Operating income (EBIT) was SEK 865.0 (1,193.8) million, corresponding to an operating margin of 16.7 (22.0) percent.
  • Net income was SEK 787.1 (1,078.1) million, corresponding to SEK 5.69 (7.79) per share.
  • Operating cash flow amounted to SEK 1,150.3 (1,273.3) million.
  • The Board of Directors proposes to the AGM that SEK 393.1 (538.4) million, which corresponds to SEK 2.84 (3.89) per share, is distributed to shareholders.

FOURTH QUARTER

Revenue for the fourth quarter was SEK 1,289.5 million, a decrease compared to the same quarter last year but an increase compared to the previous quarter. Development in Sweden, Norway and the Netherlands have continued to be weak, while other markets in which Betsson operates, locally regulated and non-locally regulated, have performed well. The sportsbook margin for the fourth quarter at 6.8 percent is slightly lower than the previous two quarters, which impacted the sportsbook’s revenue for the quarter negatively. Sportsbook gross turnover on the other hand, have developed strongly both during the fourth quarter and the full year 2019, with an increase during the quarter of 15 percent compared with the same period last year and 6 percent for the full year. Operating profit (EBIT) for the fourth quarter amounted to SEK 200.5 million, which corresponds to an operating margin of 15.5 percent.

CEO COMMENTS

2019 full-year operating profit of SEK 865 million shows that  Betsson can deliver despite several market challanges

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“We are proud to present an operating profit for the full year 2019 of SEK 865 million. The operating profit shows Betsson’s ability to deliver profitability, also during the challenges that 2019 entailed. We had expected some recovery in the closing fourth quarter, above all in the Swedish market, but we did not reach our objectives there. Up until now, one year after the Swedish re-regulation, we have still not seen the market consolidation that we expect due to the great number of operators, many of them showing no profitability. On the other hand, we have seen declining channelisation, which makes it difficult for the licensed operators who pay 18 percent gaming tax and it also jeopardizes consumer protection. High channelisation contributes to competition on equal terms for the companies in the sector that operate in the Swedish market.

During its long history, Betsson has grown more than the market. In 2019, we had a notch in this curve, but our long-term ambition to grow more than the market, organically and through acquisitions, remains. Our efficient organisation, the strong cash flow and the strong financial position provide a good foundation for acquisitions. During the fourth quarter we made a minor strategic acquisition and continue to analyse several opportunities, both in locally regulated markets and in markets that will be regulated. By further increasing the geographical distribution, we can reduce the impact of temporary downturns in individual markets.

The geographical and product distribution provide stability and also gives us the opportunity to be sustainable in our long-term efforts to run a profitable business with growth and good margins. Betsson is continuously investing in the development of the product offering and it is gratifying to get an acknowledgment that we do the right things. We saw an increase in active customers during the fourth quarter by 3 percent compared to the fourth quarter of last year 9 percent compared to the third quarter. Our in-house developed sportsbook with constantly improved performance delivers good customer experiences, sales growth and good profitability. The high performance also makes it an attractive third-party product. We have previously stated that our ambition is to offer the sportsbook to external customers and we have concluded the first deal with a third party at the beginning of the current year. We are now looking forward to the European Football Championship in June.”

ABOUT BETSSON:

Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, primarily in locally regulated markets. Betsson AB is listed on Nasdaq Stockholm Large Cap (BETS).

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Betsson’s operational subsidiaries’ vision is to deliver the best customer experience in the industry. They offer casino, sportsbook and other games via gaming licences in twelve countries in Europe and Central Asia. The business model is to offer gaming under multiple brands, including Betsson, Betsafe, NordicBet and Casinoeuro. The brands are operated on a proprietary platform, which is the core of the offer and the customer experience.

Being a responsible operator in relation to customers, suppliers, authorities, investors and other stakeholders is a cornerstone of the Betsson’s business. Betsson is a member of the European Gaming and Betting Association (EGBA), ESSA (Sports Betting Integrity) and G4 (The Global Gambling Guidance Group).

Learn more about the Group on www.betssonab.com

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Embark on an Epic Adventure with Jenny Nevada in the Diamond Temple at SlotsCapital.lv – Enjoy a 150% Deposit Bonus

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The post Embark on an Epic Adventure with Jenny Nevada in the Diamond Temple at SlotsCapital.lv – Enjoy a 150% Deposit Bonus appeared first on European Gaming Industry News.

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BGaming Launches Data-Driven Players Hub

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Rapidly expanding content provider launches game-changing player engagement platform

Popular iGaming content provider BGaming announces the official launch of Players Hub, a platform designed to provide players with real-time data and insights, early access to games, and more. These features enable them to make informed decisions about how they play and to find the best games to suit their needs.

Players Hub is a milestone in BGaming’s three-year player-centric strategy. During the test period, over 5,000 organic player registrations were received without any promotion. Players Hub grants access to data aggregated from all game servers, including live RTP stats, top wins, and trending games. The roadmap also allows registered players to test upcoming titles, providing BGaming with valuable feedback ahead of releases.

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Competition is also an essential element of the Players Hub, with leaderboards showcasing players’ biggest wins. BGaming aims to provide additional information for players, such as Hit Rate and Free Spin Hit Rate, which allows players to develop gaming strategies and find games that best suit their playing style. Moreover, registered players have access to more useful options, perks, and features in the Players Hub.

Alongside its player benefits, Players Hub is also an incredible resource for businesses. Its real-time data provides insights into player behaviour and helps understand what drives customer engagement and retention, essentially serving as a real-time focus group.

This also provides valuable feedback for BGaming and its partners, allowing the company to tweak its products and create games that constantly meet the evolving players’ demands. Affiliates can also effectively utilise it, optimising conversions and developing enhanced game positioning and engagement strategies.

Above all else, the Players Hub is a demonstration of BGaming’s capabilities and commitment to innovation. It is the culmination of three years of work with players, reinforcing the company’s position as a game-changing iGaming content provider.

Kate Puteiko, Chief Marketing Officer, said: “We are excited to continue studying player behavior and further developing our B2C initiatives. In addition to Players Hub, we have already launched MaxWin Club – a special project for gambling streamers who love our games and want to showcase their skills while winning unique prizes.

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We also continue conducting game tests for our titles in development, gathering valuable feedback from players and streamers to refine and enhance our games. This gives us a great understanding of how players operate, which is invaluable to us, as a game provider, and our partners.”

The post BGaming Launches Data-Driven Players Hub appeared first on European Gaming Industry News.

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Slotland Entertainment Rolls out Dazzling New Slot, 8 Crystals, Across Multiple Brands with new Cryptocurrency Integration

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The post Slotland Entertainment Rolls out Dazzling New Slot, 8 Crystals, Across Multiple Brands with new Cryptocurrency Integration appeared first on European Gaming Industry News.

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