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Betsson Publishes its First Quarter 2024 Interim Report

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Betsson AB has published its interim report for the first quarter of 2024.

Highlights

  • Group revenue was EUR 248.2 (221.9) million, an increase of 12%. Organic increase of 25%.
  • Casino revenue increased by 19%. Sportsbook revenue decreased by 3% and the sportsbook margin was 6.6% (8.0%).
  • EBITDA was EUR 71.6 (54.3) million, an increase of 32%. The EBITDA margin was 28.8% (24.5%).
  • Operating income (EBIT) was EUR 57.9 (43.0) million, an increase of 35%. The EBIT margin was 23.3% (19.4%).
  • Net income was EUR 42.8 (36.6) million, corresponding to EUR 0.30 (0.28) per share.
  • Operating cash flow was EUR 50.0 (48.8) million.
  • Net debt was EUR -68.1 (-104.5) million.
  • Active customers increased by 15% to 1,281,267 (1,115,641).

CEO’s Comments

“Positive start to the year for Betsson – continued high customer activity and the highest ever operating income”

For Betsson, the first quarter of 2024 was characterised by a continued positive development with high customer activity, good growth and strengthened profitability, as well as new growth-oriented initiatives. Revenue was up 12 percent year over year, and operating income (EBIT) increased as much as 35 percent to a new record level, while the operating margin strengthened to 23.3 (19.4) percent.

After the new president in Argentina took office, a devaluation of the Argentine peso of more than 50 percent was carried out in December, which had a negative effect on reported revenue for the Group in the first quarter. Organically, revenue increased by 25 percent compared to the corresponding quarter of the previous year.

The high customer activity drove strong growth in gaming turnover for both casino and sports betting, with year-over-year increases of 14 and 25 percent, respectively. Casino revenue increased by 19 percent year over year. The sportsbook margin amounted to 6.6 (8.0) percent, which was lower than the average margin for the past two years and meant that the high activity and increased turnover in sports betting was not fully reflected in revenue for the quarter. The lower sportsbook margin particularly impacted revenue in Latin America.

Betsson’s ambition is to generate stable earnings growth in the long run. The strategy to achieve this is based on geographic diversification and growth investments within existing markets, new markets, B2B and M&A. Within existing markets, it can be mentioned that the Betsson brand was introduced on the Italian market in March, at the same time as a collaboration was started with the former superstar of Italian football, Francesco Totti. Italy remains an important market with great potential for Betsson. In addition, Betsson went live in Cordoba, Argentina during the quarter, which means that the Group now offers games under local gaming licenses in three Argentine provinces. In new markets, a new online casino offering was launched in Belgium through the acquired company betFIRST, based on the category A+ license. The license enables a complete online casino offering including slots, table games and live casino. B2B continues to be an important strategic area where previous years’ investments continue to bear fruit and continued to perform strongly during the quarter. In terms of M&A, a gaming operator licensed in the Netherlands that offers casino games via the websites www.goldruncasino.nl and www.goldruncasino.com, and a game studio that develops casino games, were acquired in February. The transaction is subject to an approval from the Dutch gambling authority before the integration work can begin.

Sustainability is an important part of Betsson’s strategy and for the second year in a row Betsson sponsored the Consumer Protection Zone at the ICE gaming fair in London. This part of the fair aims to increase knowledge about responsible gambling and all proceeds from this part go to organisations that work with responsible gambling.

After the positive start to the year, we now look forward to following the final rounds of the European football leagues and cups, before it is time for the best national football teams to measure their strengths in the UEFA Euro 2024 and Copa America in June and July. There is football fever out there and within the entire organisation a number of activities are already underway to ensure that Betsson will be able to deliver a powerful player offering for new and existing customers during these major championships. See you this summer!

Industry News

iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’

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Industry professionals attending July’s edition of iGB L!VE will have access to a vibrant new feature which will showcase ground-breaking tech and innovation courtesy of the brightest start-ups and small businesses in gaming.

The iGB L!VE LaunchPad (Pulse Stage: 18 July 16.30hrs – 18.00hrs) will feature five companies to present their innovations to a panel of judges with each presentation followed by a probing Q&A session designed to interrogate the viability and commercial prowess of each product pitch.

Introducing the new feature Portfolio Director Naomi Barton, said: “iGB L!VE is constantly evolving in order to meet the business needs of stakeholders. The research programme that we undertake with customers has consistently highlighted a shared desire to always be ahead of the curve, being the first to access the very latest innovations from the start-up community is part of what iGB L!VE 2024 will deliver.

“In addition, we want to provide a platform for new talented businesses to grow by giving them extra exposure in front of an influential C-Level audience of industry investors and influencers.

“The top five products will be hand-selected by the iGB L!VE team and invited to present from the Pulse Stage. In order to help these businesses, we are providing cash prizes of £5,000 for the winner, £2,500 for second place and £1,000 for third.”

She continued: “We will be giving the feature an authentic iGB L!VE twist with the emphasis on competitive fun. To ensure this, I am delighted to confirm that 25+ year industry veteran and non-exec Clarion Gaming Chairman Michael Caselli has agreed to be our MC and will also head a panel of judges drawn from across the iGB L!VE community of industry professionals, investors and sponsors.

“Start-ups and small businesses which have innovation in their DNA can sign up for iGB LaunchPad at igblive by the 28 June deadline.”

iGB L!VE is the home of the igaming community and the only event that connects the leading igaming affiliates, operators, tech vendors, game providers and suppliers in order to maximise performance and drive tangible business growth in the following 12-18 months. iGB L!VE, which is the fastest growing igaming event, delivers unparalleled business opportunities with attendees having free access to in excess of 300 exhibitors and sponsors occupying 21,000+ square metres of gross space, a figure which is 35% higher than in 2023.

For more information on iGB L!VE (16-19 July 2024: Expo Days 17-18 July) and to register for free visit: igblive website

 

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Industry News

Ortak x B.F.T.H. Arena Awards 2024 Features Mr. First Ray by Endorphina

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The Ortak x B.F.T.H. Arena Awards 2024 welcomes Endorphina among other top game developers with its Mr. First Ray, a mystical slot game that captures the essence of dawn.

This year’s competition has seen an unprecedented increase in participation, receiving over 100 submissions from more than 70 developers involved in the innovative Ortak initiative. This platform not only promotes collaboration and innovation but also integrates gaming stakes with NFTs on the Bahamut blockchain, thereby broadening investment prospects in the iGaming sector.

Mr. First Ray transports players into a world where each spin can lead to magical wins and enchanting surprises, making it a standout in this year’s entries. As the event approaches, excitement mounts among industry professionals keen to explore this showcase of creativity and excellence in game development, scheduled from July 1 to 4.

Hosted by BetConstruct, the B.F.T.H. Arena Awards provides a prestigious platform for developers to exhibit their creativity and compete for a share of the substantial 3,333,000 FTN prize pool. This year, the event has broadened its scope, introducing new award categories to further celebrate innovation in gaming.

The culmination of the event will see the winners announced at the B.F.T.H. Arena x Harmony Meetup V, ensuring an exhilarating experience for all attendees.

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Industry News

SPOTLIGHT SPORTS GROUP TO PROVIDE EURO 2024 CONTENT HUBS FOR LEADING BOOKMAKERS

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SPOTLIGHT SPORTS GROUP SUPERFEED IN-PLAY CONTENT PROVEN TO INCREASE BETTING ENGAGEMENT BY 20%
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Spotlight Sports Group (SSG), a world-leading technology, content, and media company specialising in sports betting, has partnered with both William Hill and Betfred to deliver content hubs for Euro 2024.

The upcoming international tournament provides a prime opportunity for operators to generate revenue, and Spotlight Sports Group assists in that right through industry-leading content hubs. SSG Content Hubs allow sportsbooks in any territory the chance to offer a premium and rich content experience, without the technical burden.

The end-to-end product and content solution provided by SSG includes expert editorial, data and statistics that are delivered across multiple formats and customisable for individual bookmaker websites. Designed and created in-house, the specific event hubs allow customers to provide interactive betting experiences, compatible across all devices and include live odds and add-to-bet-slip functionality.

In addition, the content hub provides a Best Bet widget that features daily accumulators and Bet Builder picks, as well as the best daily offers and enhanced odds from the bookmaker partners. Video tipping content is also available for every match, as is a scouting report for every team and every fixture, highlighting the most popular players for Bet Builder selections.

Lee Phelps, William Hill Spokesperson said: “The Euros is one of the biggest tournaments around for bettors, and having Spotlight Sports Groups content hubs, means we can provide a real experience for our customers throughout the tournament with editorial, bet prompts and data”.

Mark Hartley, Head of Sports Product at Betfred, was similarly pleased with the deal: We’re delighted to partner with SSG ahead of Euro 2024. We’re excited by the opportunities it brings to us ahead of one of our busiest periods of the year as a bookmaker.”

Sam Houlding, Spotlight Sports Group’s Managing Director of B2B, has shared his excitement at partnering with two of the UK’s leading bookmakers: “It’s great to have two of our key partners taking our content hubs for the biggest tournament of the year. Our content has a proven record of driving revenue, and as it is available in any language globally it appeals to customers all around the world”.

Spotlight Sports Group’s Content Hubs are proven to drive revenues with a rich content experience for betting audiences.

 

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