Poland’s STS Holding reports 56.4% rise in net profit
The sports betting operator has reported net profit of €21.1m for the first half of the year.
Poland.- The Polish sports betting operator STS Holding has reported that its net profit rose 56.4 per cent year-on-year to PLN97m (€21.1m) in H1. The operator, which was bought by Entain CEE for £750m last month, reported EBITDA of PLN157m, up 34.1 per cent, and revenue of PLN 299m, up 13,7 per cent.
Net gaming revenue was PLN346m, up 16.9 per cent, and the value of bets rose 5.1 per cent to PLN2.30bn. STS had 412,000 active users, including 109,000 new registrations. The first half saw STS announce its decision to leave the UK and Estonian markets to focus on Poland.
Entain CEE, Entain’s Central and Eastern Europe (CEE) venture, closed its acquisition of STS on August 24. It had announced in June a deal with chief executive Mateusz Juroszek and his father Zbigniew in June to pay PLN24.80 per STS share for an equity value of £750m.
Juroszek said: “In the second quarter of this year, we continued to optimise processes within the STS Group. Therefore, in H1, we significantly improved both the financial result and the adjusted EBITDA, which increased by 57 per cent and 35 per cent year on year, respectively.
“We assume that in the second half of the year the activity of our players will be higher, which should have a positive impact on our operational and financial indicators.”
