Boston Link, an international recruitment consulting firm, announced a joint venture with Unirec, an executive search consultancy based in Cyprus.

In their respective markets, Boston Link and Unirec have achieved an unrivalled track record in placing talent in their specialist sectors, notably forex, fintech and iGaming.

The joint venture expands Boston Link’s international presence, which spans Malta, the UK and the Netherlands. The Cyprus office will be led by Unirec Managing Director Ioanna Vlassi.

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“Since Boston Link’s establishment in 2014, we have pursued an expansion strategy that aligns with the evolution of our key sectors,” said Boston Link Managing Director Julian Perigo.

“The joint venture with Unirec presented a strategic opportunity to enter the Cyprus market, consolidate our expertise and deliver unparalleled value for clients. Establishing this local presence seamlessly connects our global talent community to the region’s forex and iGaming sectors. Ioanna is an incredibly talented recruiter with a superb track record in both agency and in-house talent acquisition, and I look forward to working with her to build the Boston Link brand in Cyprus.”

The joint venture, which takes effect immediately, integrates Unirec’s operations under the Boston Link banner.

“Unirec’s executive search services have matched countless clients with exceptional professionals, and enriched local talent communities across Cyprus, CIS and the Middle East,” said Unirec Founder and Director Ioanna Vlassi.

“As an established financial centre with a strong economic outlook, demand for skilled professionals in Cyprus is on the rise, particularly in the forex and iGaming sectors. We are thrilled to join forces with Boston Link, which shares Unirec’s vision of delivering specialised recruitment services at scale.”

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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”

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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.

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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 Governor-General, His Excellency General the Honourable David Hurley AC DSC (Rtd), has accepted the Albanese Government’s recommendation that Ms Nerida O’Loughlin PSM be reappointed as Chair of the Australian Communications and Media Authority (ACMA).

Ms O’Loughlin has been reappointed for a three-year term, commencing on 14 October 2024, having first been appointed in 2017 and reappointed in 2022.

The Chair has extensive executive and regulatory experience, and is well respected across the sector. Her reappointment provides continuity as the ACMA works to deliver important outcomes for consumers and industry in the communications and media sectors, and implement reforms being undertaken by Government.

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In her current term, Ms O’Loughlin has led the ACMA’s work to strengthen telecommunications consumer safeguards, particularly for vulnerable Australians, overseen the establishment of BetStop – the National Self-Exclusion Register and Australia’s first SMS ID Registry – and taken strong enforcement of anti-scam and illegal gambling rules.

Ms O’Loughlin has also led important work on media diversity, misinformation and disinformation on digital platforms, and supported improved digital connectivity through the allocation of valuable radiocommunications spectrum.

Quotes attributable to Minister for Communications, the Hon Michelle Rowland MP:

“I congratulate Ms Nerida O’Loughlin PSM on her reappointment as Chair of the Australian Communications and Media Authority.

“Since her appointment in 2017, Ms O’Loughlin has led the ACMA to deliver important reforms and regulatory activities in the communications and media industries.

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“This includes better supporting consumers facing financial hardship pressures in paying their telecommunications bills, mitigating consumer harms in gambling advertising, enforcing anti-scam rules and taking enforcement action against corporations for non-compliance with Australia’s spam unsubscribe rules.

“The Chair’s continuity will provide the Authority ongoing certainty as the Albanese Government continues its important media and digital platforms reform agenda.

“I look forward to continue working with Ms O’Loughlin as the ACMA Chair.”