Decline for Betsson


The normally buoyant sports betting margins at Swedish online gambling group Betsson recorded a first half 2.6 percentage point decline in the six months to June 30 2009, dropping from 10.5 percent to 7.9 percent.

Management blamed a run of sports results that favoured the player rather than the operator for the decline, which was also apparent in the quarterly numbers, where a 9.8 percent margin slipped to 4.7 percent.

Betsson chief executive Pontus Lindwall remained optimistic, however, commenting that customer action and deposits had never been higher than in the second quarter, indicating solid growth.

H1 2009 revenues were up 29 percent to SEK 600 million ($80 million), from SEK 464.7 million in H1 2008, and on a quarterly basis were up 20 percent to SEK 284.6 million (Q2 2008: SEK236.9 million).

There was a slight one percent increase in pre-tax profit to SEK 62 million over the quarter and a 22 percent rise to SEK145 million over the first half of the year.

Deposits by the punters grew by 32 percent during the second quarter and gross sportsbook turnover rose 73 percent to SEK 644.8 million (Q2 2008: SEK373.2 million).

The Malta-based scratch card games developer Neo Games has signed an agreement with Betsson which will see the integration of this style of instant win games on the Betsson platform, management revealed. Betsson will launch a white label platform in partnership with Nordic Entertainment to exploit the format.

70 percent of total gross profit for Q2 2009 came from casino operations, up 10 percent on the same period last year. Poker saw a decline, from 19 percent last year to 14.2 percent this time, and sportsbetting contributed 11.5 percent of gross profits, nicely up on the 7.5 percent recorded in the Q2 2008.

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

2mins ago someone from Hungary played 1429 Uncharted Seas

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

Casino Of The Month

Casino of the Month

In the last 24h

Totals

  • New Members
    15
  • Members Online
    331
  • Guests
    1,970
Highest Community Rated Online Casinos
NextCasino
  (143 Ratings)
Bet365 Games
  (160 Ratings)
Cresus Casino
  (15 Ratings)
Unibet Casino
  (125 Ratings)
Betsson Casino
  (206 Ratings)
CasinoLuck
  (216 Ratings)
Spin Palace Casino
  (112 Ratings)
Redbet Casino
  (140 Ratings)
Mr Green Casino
  (274 Ratings)
Betsafe Casino
  (178 Ratings)
Slotty Vegas
  (103 Ratings)
32 Red Casino
  (295 Ratings)
Guts Casino
  (170 Ratings)
Winner Casino
  (332 Ratings)
Liberty Slots Casino
  (171 Ratings)
BitCasino.io
  (167 Ratings)
ComeOn Casino
  (233 Ratings)
Sin City Casino
  (94 Ratings)
Intertops Red Casino
  (120 Ratings)
Vera John Casino
  (169 Ratings)
BETAT Casino
  (188 Ratings)
Intertops Casino Classic
  (107 Ratings)
Casumo
  (130 Ratings)
Thrills Casino
  (126 Ratings)
Ladbrokes Casino
  (149 Ratings)
Royal Vegas Casino
  (130 Ratings)
Whitebet Casino
  (88 Ratings)
Jetbull Casino
  (101 Ratings)
Slotland
  (292 Ratings)
Vegas Red Casino
  (185 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus