Betsson Third Quarter Results Up 14 Percent

BETSSON THIRD QUARTER RESULTS UP 14 PERCENT

26th October, 2013 at 01:16:53
Source: http://www.azonlinecasinos.com

Swedish online gambling group enjoys another profitable quarter

Third quarter 2013 results were posted by Swedish online gambling group Betsson on Friday, reporting the following highlights:

* Revenues up 14% year-on-year to SEK 603.4 (529.5) million.

* Operating income rose 27% to SEK 152.2 (120.0) million.

* Gross turnover in Sportsbook at SEK 3,398.5 (2,921.4) million, an increase of 16 percent.

* Income before tax of SEK 149.7 (118.3) million - up 27 percent.

* Net income reached SEK 140.9 (113.1) million, or SEK 3.25 (2.68) per share.

* Deposits in all of Betsson's gaming solutions came in at SEK 2,027.1 (1,756.0) million - up 15 percent.

* Launch of the employee stock option program, giving key personnel the opportunity to purchase shares at the end of Q1-2015 at SEK 214.62 per share. The program was nearly fully subscribed.

Magnus Silfverberg, president and CEO of Betsson group, said:

An organic growth of 14% and the highest operating margin amongst comparable companies shows that Betsson is, still, the most strategically effective company in the industry.

"This applies to both the capacity to acquire companies and to utilise operational opportunities based on among others Betsson's multi-brand strategy.

"Betsson sees continued good possibilities, in both the short and long term, for both local and internationally regulated markets. At the same time, the operational subsidiaries are optimising their operations through investments in individual realtime communication with customers, digital marketing and world class mobile offerings.

"All together, this will contribute to our continued growth.

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