Betsson AB was done more than 14% on Friday after the company posted a sharp drop in operating cash flow and a decline in active customers.

Revenue for the quarter ended June 30 rose 12% to €303.7 million from €271.5 million a year earlier. 

Net income increased 11% to €49.2 million, or €0.36 per share, from €44.4 million, or €0.33 per share. Operating income was €69.0 million, up 8%, and EBITDA rose 8% to €84.1 million.

Operating cash flow dropped 46% to €41.1 million from €75.8 million, impacted by higher taxes, lower player liabilities and increased accounts receivable. 

Active customers declined 1.4% to 1.38 million, while registered users fell to 30 million from 31.2 million, reflecting market exits.

Casino (EPA:CASP) revenue rose 11% to €212.4 million, representing 70% of group revenue. Sportsbook revenue increased 15% to €90 million with a margin of 9.5%, up from 8.6%. 

Sportsbook turnover fell 4% to €1.47 billion. Other products contributed €1.3 million, down from €2.0 million.

Regionally, Latin America delivered record results with revenue rising 35% to €84.7 million, led by Argentina and Peru. 

Western Europe grew 36% to €59.3 million, with Italy reporting all-time high revenue. Central and Eastern Europe and Central Asia rose 3.7% to €118.2 million. 

Nordic revenue dropped 28% to €33.9 million due to lower marketing spend, while the rest of the world nearly doubled to €7.6 million.