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Scout Gaming publishes Q1 2021: Revenues increased 54% to SEKm 13.4
“We continue to build the European fantasy sports market at a rapid pace. This is primarily illustrated by Scout Gaming’s Operator Index, which measures the underlying customer activity. The Operator index amounted to 2,652, which is an increase of approximately 164 percent compared to the corresponding quarter last year.
Revenues increased by 54 percent to SEK 13.4 million during the first quarter. In line with our strategy, growth is driven by a combination of new launches by B2B customers, increased price pools and growth in underlying activity. Despite the growth, we are only at the very beginning of the introduction of Fantasy Sports in the online gaming market in Europe.
The growth we demonstrate together with a favorable sports calendar and new integrations with ATG and Norsk Tipping, has put us in a strong position for the upcoming future. Successful launches with ATG and Norsk Tipping could transform Scout Gaming to a new level. The conditions for achieving our goals of building market-leading prize pools within Fantasy Sports have further improved. Regarding Norsk Tipping, we still wait for the Norwegian Ministry of Culture to give final approval before launch can take place”.
Extract from CEO Andreas Ternstrom’s commentary to the Interim Report.
First quarter: January-March 2021
• Revenues increased to mSEK 13.4 (8.7), corresponding to a growth of 54% compared to same quarter last year
• EBITDA was mSEK -15.0 (-11.7)
• Net result improved to mSEK -9.3 (-9.8)
• Earnings per share amounted to SEK -0.5 (-0.6)
• Operator trading index (which illustrates the underlying client activity) increased to 2652 (1004), a growth of 164%.
• Scout Gaming entered into an agreement with AB Trav & Galopp, ATG (the Swedish Horse Racing Totalisator Board), Sweden’s largest gaming operator measured by turnover. The companies have agreed to jointly launch Scout Gaming’s award-winning DFS product on ATG.se with a soft launch aimed at the second quarter 2021, followed by a wider marketing push in the third quarter, in time for the start of English Premier League.
Events after the period ended
• Scout Gaming has entered into a software license agreement with Interwetten. Interwetten is one of the leading operators in Germany, Austria and beyond. They will gain access to Scout Gaming’s platform and intends to launch Scout Gaming’s Prediction game for the EURO 2020. Integration will start immediately and be ready for Interwetten to offer its customers a feature rich EURO2020 Predictor based on Scout’s yet to be revealed enhanced and upgraded Prediction engine part of the Scout Gaming platform. The current agreement is limited to a free-to-play application of Scout Gaming’s prediction engine, meanwhile the parties review potential future co-operation involving Scout’s wider product offering.
The full report is attached and available on:
https://www.scoutgaminggroup.com/investor-relations/financial-reports
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