Betsson Group s Q2 casino revenue drops but sportsbook up 125

Betsson Group has published its interim report for Q2 2021, showing group revenue increased by 14% and had an organic increase of 24%.  

Betsson’s revenue from April till June was SEK 1.75bn ($202m). Operating income (EBIT) also increased by 76% to SEK 383.4m, with an EBIT margin of 21.9%.  

While sportsbook revenue increased by 125%, casino revenue dropped by 5%, the only area where the operator experienced a decline.  

Net income amounted to SEK 337.9m, while an annual general meeting agreed to approve dividends to shareholders worth SEK 3.68 per share.  

Operating cash flow reached SEK 570.7m as active customers increased by 25%.  

In addition, during the second quarter, the group acquired a 50% stake in JDP Tech and 35% of Strive Platform.  

Pontus Lindwall, Betsson AB President and CEO, said: “The second quarter is proof of the strength of our business model. We have achieved an all-time high profit based on our scalability and geographic spread. 

“During large international sporting events such as the CONMEBOL Copa América in football and the Euro 2020 the group have offered entertaining, competitive, and secure products. The ability to take advantage of these big sporting events is connected to the constant development of functions in the sportsbook to improve customer experience.”

For Q1, Betsson reported group revenue of SEK 1.59bn, a 12% increase from the previous year’s SEK 1.41bn.

Meanwhile, other companies have also been reporting Q2 results this week, including operator Las Vegas Sands and supplier Evolution.

Source

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