Betsson Revenue Up 27% To £221.57m In 2012

Betsson Revenue Up 27% To £221.57m In 2012Online gambling company Betsson has released its Q4 results for 2012, revealing a 27% increase in revenue to 651.9 million Swedish Kronas (£65.55m), while full year revenues also improved by 27% to SEK 2,203.7 million (£221.57m).
Following the company’s impressive financial results, Betsson CEO Magnus Silfverberg commented: “Betsson’s growth is built on historical investments, and the company continues to invest large amounts in marketing and technology, which intends to secure a future growth rate above that of the market growth.”
Breaking down the figures further, in Q4 Betsson’s mobile sportsbook took SEK 308.5m (£31.02m) in wagers, which now equals 7% of the company’s total sports betting revenues. The company’s sportsbook results were equally as impressive with gross turnover improving by 74% to SEK 3,782.8m (£380.35m), while deposits across the whole business increased by 45% to a record SEK 2,514.8m (£252.85m).
Commenting further on the overall results, CEO Magnus Silfverberg added: “The strong organic growth of 23 percent in revenues, 30 percent in Sportsbook turnover and more than 100 percent in mobile revenues from last quarter, shows that Betsson is on the right track.”
Even the company’s poker product reported an impressive 27% rise in Q4 gross profits to SEK 31.6 million (£3.18m) from SEK24.8 million (£2.49m) in Q4 2011; while for the whole year poker revenue soared 39% to SEK 116.7Million (£11.73m) from SEK 83.9 million (£8.44m) in 2011. Overall, poker now accounts for 6.3% of Betsson’s gross profit in 2012 compared to 5.9% in 2011.

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