iGaming Industry
Betsson “not satisfied” despite revenue, profit growth in Q3
Pontus Lindwall, chief executive of Betsson, has said the firm is “not satisfied” with its performance during the third quarter, despite achieving year-on-year growth across revenue and profit.
Revenue in the three months through to September 30 amounted to SEK1.18bn (€122.4m/144.5m), which represents an increase of 11% on the corresponding period last year. Betsson’s casino business remains its main source of income with SEK871.1m in revenue, up 19% on last year, but sportsbook revenue fell 8% to SEK275.1m.
Gross profit in the third quarter was also up 6% year-on-year from SEK807m to SEK859m, with active customers climbing 20% to 619 million and deposits up 16% to SEK4.1bn.
However, operating income dropped 21% to SEK216m, while net income also fell 26% to SEK187m, and Betsson ended the quarter with earnings per share of SEK1.35, down 27% on last year.
“Despite a good finish to the quarter, we are not satisfied with the overall growth in the quarter and Betsson has taken action to improve performance. Moreover, NetPlay, which Betsson acquired in April 2017, has not developed as well as planned and measures have been taken to get the business back on track. The group is committed to continue to develop the product offerings and to achieve good returns on marketing spend in order to further capture growth.” – said Pontus Lindwall.
For the year-to-date, through to the end of September, revenue at Betsson came in at SEK3.46bn, up 15% on the same point last year, while gross profit climbed 12% to SEK2.52bn.
However, net income is down 7% to SEK587.6m, with operating income falling 3% to SEK663.8m and earnings per share dropping 7% to SEK4.25.
Lindwall added: “I took over as CEO of Betsson AB in September and I can conclude that the product offering has probably never been better, but also acknowledge that there is room for further improvements in the operations and changes are being made. We have good control of the business and the Betsson team and I are committed to achieve the long-term growth and earnings that I believe the company is capable of.”…
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Source: EEGaming.
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
SoftGamings, the market leader in iGaming solutions and services, announced the arrival of the Tobique Gaming License on the market. The move reflects the company’s commitment to enhancing regulatory compliance and expanding its footprint in the competitive iGaming industry.
Tobique Gaming, managed by the Tobique First Nation in western New Brunswick, Canada, oversees the issuance of online gambling licenses through the Tobique Gaming Commission (TGC) — a regulatory body established under the Tobique Gaming Act of 2023. This initiative is known for its stringent standards and emphasis on responsible gaming. Furthermore, it promotes economic development within the Tobique First Nation community.
The Tobique Gaming license provides operators an entry point into the online gaming and gambling industries. With it, businesses and iGaming operators can conduct operations in various global regions and offer multiple services, from betting to casino games and lottery promotions. The best of all is the streamlined application process, which lasts only 4 to 6 weeks.
SoftGamings is fully prepared to support clients and those interested in obtaining this license. Leveraging its innovative technology and diverse game portfolio, SoftGamings is ready to support clients in navigating the application process and leveraging the benefits of the Tobique Gaming License. The company’s comprehensive services include game development, casino management systems, and payment integrations, making SoftGamings a preferred partner for numerous operators and developers worldwide.
Consequently, helping the clients obtain the Tobique Gaming license and being an entry point represents a significant milestone in SoftGamings’ ongoing efforts to refine its service offerings, maintain the highest standards of gaming integrity, and bolster its regulatory standing. As the company moves forward with this licensing process, it anticipates a positive impact on its operations and continued success in delivering exceptional gaming solutions to its global clientele.
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