Betsson reports mixed results in Q2

The Swedish company Betsson registered bad results during the second quarter (Q2) in the Nordics and Western Europe.

Sweden.- Betsson has released its latest financial report, which details its performance during the second quarter (Q2) of the year. The company posted bad results in the Nordics and Western Europe.

Betsson registered a 5% fall in revenue for the second quarter, with the sports betting segment increasing finances despite the FIFA World Cup taking place in 2018. The company explained that revenue totalled €113.8 million, and that “the geographical spread, together with the product mix, explain the good revenue level despite the challenging Swedish market and the decline in the Netherlands.”

Betsson’s revenue from the Nordics and Western Europe fell 17% and 12% respectively to €49.2 million and €37.2 million in Q2. Central and Eastern Europe and Central Asia increased by 33% to €26.9 million.

The casino segment contributed 72% of the overall group revenue and amounted to €87 million, though it also represents a 10% decrease. mobile revenue rose 3% to €59.8 million.

Pontus Lindwall, president and CEO of Betsson, said: “I am confident in my view of Betsson’s capacity and in our strategic opportunities to pursue long-term profitable business with growth and good margins in regulated markets. We also have a geographical spread that compensates for temporary downturns in individual markets.”

“We have a good financial position and we continuously evaluate additional markets to grow in the future. Betsson’s good cost control and proprietary technology provide good opportunities to meet market changes and offer competitive product solutions.”