Betsson posts 3% revenue rise for third quarter
Betsson Group has reported a 3% revenue rise of SEK 1,733.3 (1,676.7) million. Casino revenue decreased by 2%. Sportsbook revenue increased by 24% and the sportsbook margin was 7.9%. Operating income (EBIT) was SEK 323.6 (329.1) million, a decrease of 1.7%, the EBIT margin was 18.7%.
Operating cash flow was SEK 423.5 (494.6) million. Active customers increased by 7% to 986,429. Acquisition of Inkabet and investment (28%) in Slapshot Media Inc.
After several records during the previous quarter, we managed to increase revenue by just over 3 per cent during the third quarter, compared with the corresponding quarter last year, which was a very strong quarter. At that time, the strong increase in revenue was driven by a surge in demand for digital entertainment.
The further increase in revenue is explained by the successes with our sportsbook in combination with good results in the ending rounds of the EURO 2020 and CONMEBOL Copa América and the return of the domestic football leagues from mid-August. All in all, this has resulted in sportsbook revenue increasing by approximately 24 per cent year-on-year. The increase in revenue has also benefited from successes in new markets such as LatAm, Croatia and Greece.