Betsson records largest ever quarterly revenue
Customer deposits cross the SEK1bn threshold, while gross sportsbook turnover more than doubles.
Betsson has recorded its largest ever quarterly revenue, following a Q4 increase of 26%, while customer deposits crossed the SEK1bn threshold “ the highest quarterly total in the company’s history.
Revenues for the fourth quarter reached SEK484.3m (£46.4m), up from SEK382.9m over the same period in 2009, while operating income also increased by SEK34.2m to a total of SEK127.7m. Annual revenues for the year ended December 31 rose by 23%.
Betsson’s sportsbook was its main area of growth, with gross sports turnover more than doubling and gross turnover in live betting rising by 393%. Over the fourth quarter, live betting contributed to 60.4% of gross sportsbook turnover, compared to just 30.7% for the same period in 2009.
CEO Pontus Lindwall said: “Today Betsson offers one of the world’s best sportsbooks, and this is something players in the Nordic region, as well as in other regions, have become aware of and Betsson can, therefore, report growth of 78% in sportsbook for the full year 2010.”
The Swedish firm was active in developing its B2B strategy towards the end of 2010, establishing a software development company in India and setting up a B2B deal with Malta-based Realm Entertainment, and continued this trend into the new year.
Since the start of 2011 Betsson has entered Italy through a joint venture with G.Matica, and has also moved into the Chinese market.