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Betsson Publishes Interim Report for Q1 2022
Betsson AB has published its interim report for the first quarter of 2022.
Highlights
- Group revenue was EUR 170.2 (157.4) million, an increase of 8%. Organic increase of 14%.
- Casino revenue decreased by 5%. Sportsbook revenue increased by 45% and the sportsbook margin was 8.3% (7.2%).
- EBITDA was EUR 33.4 (35.8) million, a decrease of 7%. The EBITDA margin was 19.6% (22.7%).
- Operating income (EBIT) was EUR 23.6 (27.3) million, a decrease of 13%. The EBIT margin was 13.9% (17.3%).
- Net income was EUR 20.9 (23.7) million, corresponding to EUR 0.16 (0.17) per share.
- Operating cash flow was EUR 26.9 (32.3) million.
- Active customers increased by 33% to 1,256,449 (948,109).
CEO’s Comments
“Revenue growth driven by continued good momentum in the sportsbook and through geographic diversification”
Some years ago, Betsson conducted an extensive review to capitalise on growth opportunities on the gaming market that would maintain profitability. The review resulted in the following strategic cornerstones: growth in existing markets, growth in new markets, strategic additions and acquisitions and investment in Business to Business, B2B. Thanks to a goal-oriented work from our employees, we have been able to take advantage of the growth opportunities identified, which has resulted in increased revenue and healthy profitability.
Betsson’s revenue increased during the first quarter by 8 percent (14 percent organic) to EUR 170.2 (157.4) million. Once again, new records were set for sportsbook revenue and in several individual markets. It has been said many times before, geographic diversification makes Betsson’s business less sensitive to disruptions in individual markets.
The launch in March of the proprietary sportsbook in the United States was an important milestone in Betsson’s continued global expansion. The US investment is primarily focused on presenting the US adapted sportsbook to other operators within the framework of the B2B offering. More specifically, we are initially using the Business to Consumer (B2C) offering in Colorado as a showcase for the sportsbook. Many months of hard work from the product and technology teams were required to create a competitive sports product for the American market.
Starting this quarter, developments in Latin America will be reported as a separate region in our financial reports. The region is developing very satisfactorily. Market presence has also been strengthened in Latin America through the launch of our offering in both the City and Province of Buenos Aires, Argentina. To support the region’s growth, Betsson has built up a regional hub with central functions to serve local markets based on their respective conditions. The assessment is that these markets are still in their early stages in many respects and that growth opportunities for the coming years continue to be positive.
Although Betsson has several highlights to celebrate in the past quarter, the geopolitical developments in the surrounding world are concerning. The Russian invasion of Ukraine has led to incredible human suffering and created a high level of uncertainty in many countries. Belarus’ active choice to get involved in the conflict on the Russian side led to Betsson’s decision to return the local license and completely shut down the operations that was building up in the country. The conflict has also brought that Betsson-contracted developers in Ukraine could in some cases be evacuated to Malta and Budapest, in other cases to less dangerous areas of Ukraine. Betsson sets the safety and health of its employees at the highest priority and is therefore carrying out ongoing efforts to ensure their security.
During the quarter, further efforts were made to promote responsible gaming. Through increased training efforts and earlier customer interaction et cetera, the trend of the share of red-flagged customers has decreased during the last years.
Looking ahead, we are seeing more undertakings on the horizon. Our ambition is to further strengthen our presence in North America by operating under a new license in the Ontario region in Canada starting this summer. We also aim to launch in Mexico together with our local partner Big Bola Casino in 2022.
Applications to operate in the Netherlands under the new license model were submitted during the quarter in line with the Group’s plan.
All in all, the year has been off to a good start as there are many important activities that we look forward to during the remainder of 2022.
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The post 1 Reddit Post = 1,120 FTDs — No Site, No Backlinks! appeared first on European Gaming Industry News.
Uncategorized
DeepDive launches AI platform to strengthen Enhanced Due Diligence for gaming operators’ anti-money laundering efforts
DeepDive today announced the launch of a revolutionary AI platform for Anti-Money Laundering (AML) compliance teams that conduct Enhanced Due Diligence (EDD) and player investigations.
AML teams at gaming operators face an impossible trade-off, they can either conduct thorough investigations that take days, or fast investigations that may miss critical intelligence. On top of that they have to be able to assess source of funds on customers all over the world. DeepDive combines multi-language web search and global regulatory compliance data checks to extend the reach of EDD. Compliance teams can now sift through the digital ocean of open-source data including public records, corporate filings, court documents, news archives, social media profiles and PEP, sanctions and watchlist data to build customer intelligence.
Using a unique combination of search tools, natural language processing, entity resolution and generative AI, DeepDive enables EDD research to go further and deeper, accessing more sources, in any language or alphabet. Instead of analysts spending hours clicking through search results and manually cross-referencing information, DeepDive’s AI processes hundreds of sources simultaneously and presents EDD reports viewable by timeline, alert type or risk category. Analysts can then interrogate the body of knowledge with the built-in chatbot to get to the heart of the matter, helping them make more informed risk decisions.
The team behind DeepDive is staffed by industry veterans that have previously launched, scaled and exited several fraud investigation and KYC platforms.
“DeepDive addresses the pain points facing compliance teams such as time-intensive manual research, incomplete data, language barriers, false positives, and the challenge of processing vast amounts of information at scale,” said David Pope, COO at DeepDive.
“We’ve now completed a successful six-month beta with MLROs and outsourced EDD providers. DeepDive has helped them build deeper intelligence on high-risk customers from all over the world, in a fraction of the time. Not only are we uncovering intelligence that the manual EDD approach misses, but with the time saved, gaming operators can extend EDD across a wider set of customer transactions.”
DeepDive strengthens EDD by creating multiple search permutations across publicly available data and targeted compliance databases in relevant languages and local search engines. After creating the most exhaustive possible dataset for analysis, entity resolution refines the data pool to remove false positives. Multiple generative AI tools are then used to build a structured intelligence report with full citations to original sources and an audit trail.
The DeepDive report covers personal background, legal issues, financial integrity, compliance history, and key relationships, revealing financial insight, known associates, locations, company linkages, political connections, and criminal activity—all structured for immediate analysis.
The post DeepDive launches AI platform to strengthen Enhanced Due Diligence for gaming operators’ anti-money laundering efforts appeared first on European Gaming Industry News.
iRace Media has announced the renewal of its long-standing partnership with The Hong Kong Jockey Club (HKJC) ahead of the new season commencing on 7 September.
The partnership will ensure racing fans can continue to experience uninterrupted access to high-quality Hong Kong racing content across Singapore, Malaysia and the wider Asia region. iRace readers and customers will have access to expert guides, results, tips and trusted analysis from one of the world’s premier racing jurisdictions.
Scott Bailey, Commercial Manager, iRace Media says:
“Hong Kong is a benchmark for racing globally; it’s fast, competitive and deeply followed throughout Asia. iRace has collaborated with the Hong Kong Jockey Club for many years now to deliver a trusted experience for racing enthusiasts, and we are thrilled to build on the accuracy, depth and speed that fans have come to expect.”
iRace Media’s extended partnership with the HKJC will explore new ways to enhance the racing experience through its digital platforms, offering real-time insights and driving fan engagement across the Asia region.
Get set for the new season by visiting the iRace website and register for free to access trusted editorial and data-driven racing coverage.
The post iRace Media extends partnership with The Hong Kong Jockey Club in Asia appeared first on European Gaming Industry News.
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