World Cup drives Betsson revenue in second quarter

Online gaming operator Betsson has cited the impact of football’s Fifa World Cup as the main reason behind a year-on-year increase in revenue during the three months to June 30, 2014.

The company recorded revenue of SEK752.3 million (€81.6 million/$110.3 million) in the second quarter, up 30% on the SEK579.2 million achieved in the corresponding period last year.

The revenue total represents an organic growth of 15%.

Gross profit jumped from SEK482.7 million in Q2 of 2013 to SEK629.7 million in the most recent quarter, while operating income also increased from SEK137.8 million last year to SEK190.4 million this year.

Betsson said the growth was helped by betting activity during the 2014 Fifa World Cup, which concluded in Brazil on July 13.

The company reported that sportsbook turnover during the national team tournament amounted to SEK827 million, which is a record for the company.

The World Cup final accounted for SEK38 million of total turnover in the competition, compared to the average turnover during the tournament of SEK12.9 million per match.

As a result of the second-quarter figures, Betsson’s revenue for the first six months of 2014 now stands at just over SEK1.4 billion.

Gross profit for the first half totals around SEK1.2 billion while operating income is approximately SEK361.5 million.

Magnus Silfverberg, president and chief executive officer of Betsson, said: “Betsson posted organic growth of 15% during the second quarter, which proves that the company’s strategic initiatives are continuing to show results and that the company provides a world class customer experience.

“The Fifa World Cup had a positive effect and attracted many new and old customers, which is also favourable longer term.

“The World Cup has exceeded our expectations and the strong customer intake together with the high reactivation of existing customers bodes well for the future.”


read more  :  Betsson boosted by sportsbook growth in first quarter

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