Connect with us
European Gaming Congress 2024

Press Releases

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

Published

on

 

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

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“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).

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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

Latest News

Golden Whale to provide ML-powered solutions to SYNOT Games

Published

on

golden-whale-to-provide-ml-powered-solutions-to-synot-games
Reading Time: 2 minutes

 

Industry-leading data science company teams up with global iGaming group to drive player engagement and game distribution

Golden Whale Productions, the market-leading data science specialist for the iGaming industry, has announced it has formed a new partnership with SYNOT Games that will utilise ML-powered solutions to enhance multiple facets of the latter’s business.

Officially signing on as a game supplier for the company, Golden Whale will use its combination of AI and machine learning systems to drive activity and game distribution across SYNOT’s customer base.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

By harnessing the power of Golden Whale’s prediction models, SYNOT will be able to deploy automated systems that analyse and respond to game play data before providing recommendations for improvement, opening up a world of exciting possibilities for the company.

Armed with these ML-backed insights, SYNOT will be able to analyse user data at greater speed and on a far more granular level, with this in turn empowering the group to continue providing cutting edge solutions that are capable of scaling with the ever-growing nature of its operations.

Given SYNOT currently operates in more than 30 countries worldwide, these potential optimisations obviously have big implications for the business, both in terms of refining its product line-up and securing new partnership deals around the globe.

As such, representatives of both companies have already spoken of their excitement over what promises to be a hugely beneficial collaboration and are extremely optimistic about what they will be able to achieve together when the first wave of game specific insights have been garnered.

Eberhard Dürrschmid, Chief Executive Officer at Golden Whale, said: “Golden Whale are very happy to announce the details of our latest strategic partnership with SYNOT Games and we’re really looking forward to working alongside a business with such a strong track record in iGaming.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“It’s my firm belief that both predictive solutions and machine learning in general have an increasingly important role to play in the game development and sales process – and armed with our powerful technologies, we’re certain SYNOT will be well-placed to capitalise on this in future.”

Filip Hlaváček, Chief Product Officer at SYNOT Games, said: “At SYNOT Games we’ve long prided ourselves on adopting cutting edge technology across our games and solutions, so teaming up with a pioneering data science company like Golden Whale was an obvious fit for us.

“We believe that the insights their predictive models will provide for our business across all facets of customer engagement and game distribution will prove to be a major asset for us and we’re extremely optimistic about what we’ll be able to achieve together going forward.”

The post Golden Whale to provide ML-powered solutions to SYNOT Games appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Cryptocurrency

Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe

Published

on

kyrrex-to-host-online-panel-discussion-on-mica-and-the-future-of-crypto-in-europe
Reading Time: 2 minutes

 

As the European crypto community prepares for the implementation of the MiCA, Kyrrex is organizing an online X panel to discuss the potential impact and future trajectory of the industry under this new regulatory framework.

The panel “Is MiCA that Bad? The Future of Crypto in Europe,” will take place on November 14, 2024, at 12:00 CET on X Spaces.

This event aims to offer an in-depth examination of the challenges and opportunities that MiCA presents, drawing on the expertise of industry leaders and stakeholders.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Key speakers for the discussion include Mike Romanenko and Kevin Plumpton from Kyrrex,

Tomer Warschauer Nuni from Kima Network, Andrea Zapparoli Manzoni from H4ckManac, Thanos Tsavlis from Cyberscope, and Anoop Nannra from Trugard Labs. Their insights will help attendees understand how MiCA may reshape the crypto landscape and what this means for different segments of the market.

“As MiCA ushers in a new regulatory era for the crypto industry, open discussions are crucial for navigating this transition effectively. By bringing together voices from various sectors, we aim to foster a deeper understanding and proactive approach to the opportunities and challenges ahead,” said Mike Romanenko, CVO & co-founder of Kyrrex. “Engaging in conversations like these helps ensure that the community is informed and prepared for the future of crypto in Europe.”

The panel will be structured to encourage interaction and participation, allowing attendees to submit questions and engage in a discussion with the panel. Topics are expected to include compliance, innovation, and strategies for navigating the evolving regulatory environment.

This event offers professionals, enthusiasts, and stakeholders an opportunity to gain a clearer perspective on what lies ahead as MiCA begins to take effect. It will also provide a space for dialogue and knowledge-sharing, fostering a greater understanding of the potential impacts on the crypto sector in Europe.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Panel “Is MiCA that Bad? The Future of Crypto in Europe” details:

  • Date: November 14, 2024
  • Time: 12:00 CET
  • Platform: X Spaces

The post Kyrrex to host online panel discussion on MiCA and the future of crypto in Europe appeared first on European Gaming Industry News.

Continue Reading

Diana Margarita Otalora

Stake’s Latam leadership team smashes glass ceiling; sweeps awards

Published

on

stake’s-latam-leadership-team-smashes-glass-ceiling;-sweeps-awards

Stake’s Diana Margarita Otalora has been crowned Leader of the Year at the 2024 SBC’s Latinoamerica awards.

The October award win was the perfect way to mark the one-year anniversary of Stake’s operation in Colombia, which has led the operator’s ambitious expansion plans in Latam.

The victory for Diana, who is GM for Latam as well as the operator’s Colombia country manager, is proof that Stake’s strategy to hire the best talent available in each territory is paying off.

Diana’s team was recently strengthened by the addition of Peruvian country manager Jennyfer Escobar, who helped to secure Stake’s licence in Peru as a result of the operator’s progressive recruitment policy. 

“At Stake, we want to appoint the best people for the role. Our ambition is nothing less than to become a leading player in the Latin American sports betting market.” said Otalora. 

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“It has been rewarding to find those attributes in my fellow Latina leaders, who are pulling together to propel Stake forwards in Latam’s emerging regulated markets.

“We work hard every day to ensure that gambling in our home countries is both exciting and safe for players, who have come to expect nothing less from Stake over the years.” 

In order to complete the Colombian launch, Diana managed the merging of two teams following Stake’s acquisition of Betfair Colombia, delivering continuity and harmony during what might otherwise have been a challenging integration. 

Diana has successfully grown the Stake Latm team to more than 35 employees and is continuing to grow.

More internal growth is on the cards as the operator looks to build on Colombia by entering Peru and Brazil, among others in the region.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Luisa Muñoz, Head of Operations, Latam for Stake, said: “Under Diana’s leadership, we have launched one of the largest gaming companies in the world in the Colombian market and are now expanding our horizons to all of Latam. 

“Working with Diana, I have grown both professionally and personally: professionally, by being able to evolve my role in the organisation from managing the Customer Experience processes to now leading the operation for Latam. Personally, she has guided me, trusted me, empowered me and has opened the way for me to contribute value to the company on a daily basis.

“This is what true leaders do.” 

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania