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Betsson Publishes Interim Report for Q2 2023

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Betsson AB has published its interim report for the second quarter of 2023.

Highlights

  • Group revenue was EUR 236.8 (186.3) million, an increase of 27%. Organic increase of 43%.
  • Casino revenue increased by 35%. Sportsbook revenue increased by 13% and the sportsbook margin was 8.2% (8.3%).
  • EBITDA was EUR 67.6 (39.3) million, an increase of 72%. The EBITDA margin was 28.5% (21.1%).
  • Operating income (EBIT) was EUR 54.5 (29.2) million, an increase of 87%. The EBIT margin was 23.0% (15.7%).
  • Net income was EUR 46.9 (28.6) million, corresponding to EUR 0.37 (0.21) per share.
  • Operating cash flow was EUR 89.2 (37.8) million.
  • Net debt was EUR -138.8 (-19.8) million.
  • Active customers decreased by 10% to 1,119,803 (1,246,719).
  • Acquisition of the Belgian B2C operator betFIRST.

CEO Comments

“I am pleased to look back at another record quarter for Betsson with continued high customer activity and strong financial performance. During the second quarter of 2023, revenue increased by 27 percent and operating profit (EBIT) by 87 percent, compared to the corresponding quarter last year. New revenue records were set in both B2C and B2B. The EBIT margin increased to 23.0 (15.7) percent.

“Betsson’s long history of profitable growth is based on diversified revenues, both in terms of products and geographic markets. As before, the business generates strong cash flows, and the robust balance sheet constantly facilitates new growth initiatives. It is the mix of investments in new markets, organically and via acquisitions, that has contributed to the good financial performance over time. The geographical diversification continues to serve Betsson well and revenues increased in all regions during the quarter. In particular, Central and Eastern Europe and Central Asia (CEECA) continued to show high growth.

“In June, the leading Belgian sports betting operator betFIRST was acquired and at the same time a new strategic partnership was entered into with the publicly listed French casino operator Groupe Partouche to offer online casino games in some regulated markets, with Belgium being the first country for this collaboration. These strategic initiatives together enable a competitive offering in sports betting and casino for the Belgian market. The investment in Belgium resonates well with Betsson’s ambition to deliver long-term profitable growth.

“In June, an important sponsorship was entered into with the long-standing Argentinian football club Boca Juniors, previously home to perhaps the greatest player ever in football history, Diego Armando Maradona. The sponsorship, one of the largest ever for Betsson, means that the club’s iconic match shirt will feature the Betsson logo during local and international matches until the end of 2024. The collaboration with Boca Juniors strengthens Betsson’s brand and rapid expansion in Argentina and throughout Latin America, and we will be following the team’s development with excitement together with fans and customers.

“We look forward with confidence to the second half of the year, with continued investments into geographic expansion and constant further development of Betsson’s offering to future-proof our competitiveness.”

Industry News

Amusnet Wins Best Game Studio at the SiGMA East Europe Awards 2024

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Amusnet has won the prestigious Best Game Studio title at the SiGMA East Europe Awards 2024, held in Budapest. The event set the stage for a night of celebration, aligning with SiGMA’s highly anticipated conference and expo, which welcomed over 9000 attendees from the iGaming and emerging tech sectors.

Securing the Best Game Studio marks another significant milestone for Amusnet, demonstrating its robust portfolio of over 300 casino games. This honour underscores the company’s steadfast dedication to high quality within the iGaming sector, further solidifying its position as a trusted partner for industry partners in East Europe and beyond.

Amusnet’s products are centered around its diverse online slots, including classic and contemporary fruit themes, innovative dice slots and progressive jackpots. These games are distinguished by their exceptional graphics, user-friendly interfaces and engaging features designed to enhance player experience.

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Industry News

FBMDS and FBM Foundation host solidarity keepy-uppy initiative at G2E Las Vegas 2024

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FBM Digital Systems (FBMDS), a leader in iGaming innovation, and FBM Foundation are joining forces to host a special solidarity initiative linked to the Ronaldinho Crash game by FBMDS at this year’s Global Gaming Expo (G2E) in Las Vegas. From October 8th to 10th, visitors to booth 2848 will have the opportunity to participate in a Keepy-Uppy Challenge, designed to give back to communities in need while promoting the spirit of solidarity.

The initiative invites attendees to show off their soccer skills in a simple but meaningful way: for every successful keepy-uppy (juggle) a participant completes on the newest Ronaldinho Crash game, the FBM Foundation will donate $1 to support vulnerable communities around the world. These donations are going to be made to individuals affected by natural disasters, children in need of educational resources, and other vulnerable groups.

This is FBM Foundation’s first ever participation at an international casino gaming trade-show and the choice of G2E Las Vegas to make its debut was not random. Choosing a stage like the Global Gaming Expo was the right move to showcase the Group’s will to make a difference in the world, sharing its solidarity footprint with a broader, diverse audience of casino gaming enthusiasts, casino operators, players and industry professionals.

“We believe in the power of coming together for a greater purpose,” says Renato Almeida, Director of FBM®️ Group. “This initiative not only highlights the team-building spirit that defines FBMDS, but it also allows us to showcase the work of the FBM Foundation and our commitment to making a positive impact on the world with the help of G2E Las Vegas.”

FBM Foundation has long been dedicated to supporting causes that promote education, community development, and relief efforts for those impacted by crises in the Philippines, Brazil and beyond. “Through this keepy-uppy challenge, FBMDS and FBM Foundation aim to inspire action and demonstrate how collective efforts—whether on the field or off—can make a real difference in the lives of those who need it most”, shares FBM Foundation’s representative, Vítor Francisco.

The Ronaldinho Crash game is one of FBMDS’ latest product releases, featuring the global football legend Ronaldinho Gaúcho on a thrilling keepy-uppy crash gaming experience. The game, which was officially launched during the American Cup and will be available to try at the fair, is already winning over crowds in multiple countries around the globe.

In addition to Ronaldinho Crash, visitors to G2E Las Vegas 2024 will be able to experience for the first time the new Infinity Series video bingo line and the new Sapphire Fever bingo, the new Safe Blaster slot game, as well as the popular Champion Tales crash game, the famous Top+Plus table games collection and much more.

Attendees at G2E Las Vegas 2024 are encouraged to stop by booth 2848, take part in the challenge, and help support the initiative between FBMDS and FBM Foundation. Whether you’re an expert juggler or simply want to get involved, every attempt counts towards the greater goal of raising funds for global causes.

 

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Industry News

CT Gaming Celebrated its 25th Anniversary with a Three-Day Team-Building Event

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To celebrate its 25th anniversary, CT Gaming hosted an unforgettable three-day team-building event for its employees at the picturesque “Katarino” complex. The programme as dynamic, filled with diverse activities that fostered team bonding—from fun quizzes and sports tournaments to refreshing mountain hikes and moments of complete relaxation. The highlight of the event was the glamorous gala dinner, themed “Classic Stars,” where employees and departments with outstanding contributions to the company’s success were rightfully honoured by company Founder Milo Borissov and Vice President Rossi McKee. Following the formal part of the evening, the beloved actor and comedian Krasi Radkov brought smiles and laughter to the audience.

“Twenty-five years in the business is a significant achievement, one we couldn’t have reached without the dedication and ambition of the team behind CT Gaming. That’s why we decided to celebrate this milestone all of us – together,” Mr. Borissov, founder of CT Gaming, said.

“As we mark this anniversary, we celebrate not only the success of our products but also the dedication of our incredible team, as well as the trust of our partners and clients. Looking ahead, CT Gaming remains focused on business expansion and actively shaping the future of the gaming industry,” Rossi McKee, Vice President of CT Gaming, said.

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