Betsson earnings up 76.8% year-on-year

Betsson has predicted record earnings for Q2.
Betsson has predicted record earnings for Q2.

The Swedish betting and gaming operator has reported that Q2 was its most successful to date, with revenue expected to reach up to €37.7m.

Sweden.- Betsson has reported a major rise in revenue in the second quarter thanks to a strong performance of sports betting and a high sports betting margin during the Copa America and Euro 2020 tournaments.

The Swedish operator said it expected revenue for the quarter to reach up to SEK385m (€37.7m), which would represent a rise of 39.4 per cent sequentially and 76.8 per cent year-on-year.

It estimates revenue for the second quarter will come in at between SEK1.73bn and SEK1.75bn, which would mean an increase of up to 10.3 per cent against Q1 and 4.1 per cent year-on-year. Sportsbook turnover was up by around 73 per cent from SEK4.82bn, it said.

Betsson also said that customer numbers rose by approximately 25 per cent year-on-year, from 820,521 in Q2 2020.

Meanwhile, operating income was aided by the Swedish Administrative Court’s decision to quash a SEK20m sanction issued by the Swedish gambling regulator, Spelinspektionen, last month.

In May, Betsson gained one of the first new gambling licences issued in Greece by the Hellenic Gaming Commission. The company will release its full Q2 results on July 22.

Sweden: gaming operators set the record straight

Betsson Group, LeoVegas, William Hill and Kindred Group have together launched a new website that aims to provide the public with statistics and other insights on gambling in Sweden.

The Fakta om spel (“Facts about Gaming”) site has been launched in collaboration with the Swedish online gaming operators’ association Branschföreningen för Onlinespel (BOS). It aims to set the record straight and dispel misconceptions about the industry.

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