Mobile growth drives Betsson Q2 revenues

Overall revenue in the second quarter amounted to SEK860.6 million (USD 100.5M), which represents an increase of 14% on the SEK752.3 million posted in the corresponding period last year.

The online gaming operator’s mobile business experienced significant growth in particular, with the division posting revenue of SEK286 million in Q2, up 121% on the previous year,

Elsewhere, total operating income for the three-month period was up 12% on a year-on-year basis to SEK213.8 million, while income before tax also jumped from SEK187.5 million to SEK212.3 million.

Net income was up from SEK176.6 million to SEK201.6 million, corresponding to SEK1.46 per share compared to SEK1.28 last year. In addition, customers’ deposits were up 19% year-on-year to SEK3.1 billion.

As a result of the second-quarter success, Betsson was able to achieve impressive results for its overall performance in the six-month period to June 30.

First-half revenue amounted to SEK1.7 billion, up 19% from SEK1.4 billion last year, while operating income jumped from SEK361.5 million to SEL451.8 million.

Income before tax was also up from SEK354.1 million to SEK448.7 million, while net income jumped from SEK334.3 million to SEK425.7 million.

Magnus Silfverberg, who last month confirmed his exit as president and chief executive of Betsson, said: “After four years as the president and CEO of Betsson, it feels great to finish with the best quarter ever. In spite of high comparative figures, Betsson has achieved strong organic growth in revenues, deposits, gross turnover in sportsbook and net income.

“With above-market growth and additional acquisitions, the company has achieved a leading position in a number of countries. This reduces the company’s operational risk and creates a foundation for sustainable growth,” he added.