Betsson report superb results

Betsson has reported a 44% increase in revenues to SEK 486.2 million for the second quarter of 2012, recording sportsbook growth despite the lowest margins yet at 4.6 percent.

The main highlights in the results are:

Operating income up by 7 percent to SEK 109.5 million

Active customers up at 5,087,000 from 3,359,000 in the same quarter last year

Income has been negatively impacted by non-recurring costs amounting to SEK 10.0 (10.1) million, which refers to acquisitions & distribution of shares

The Sportbook margin after free bets was 4.6%, which represents the lowest ever in one quarter & is explained by an extra strong seasonal pattern

Income before tax amounted to SEK 110.9 (103.3) million

Net income totaled SEK 105.4 (97.9) million, corresponding to SEK 2.54 (2.47) per share

The acquisition of Nordic Gaming Group was completed with closing on June 20, 2012

Due to the acquisition, by the end of the quarter Betsson had an external credit amounting to SEK 431.8 (50,0) million, & the liquid funds amounted to SEK 342.3 (195.6) million

Betsson is strengthening its position as a sportbooks operator through a broader sportsbook offering with even more mobile solutions,” CEO & president Magnus Silfverberg reported.

“In addition, several technical development projects have been undertaken with the purpose of securing future growth & profitability. This, together with the highest activity level ever & the all time high in deposits, indicates a continued strong development for Betsson.”