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Betsson Publishes its First Quarter 2023 Interim Report

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

Highlights

  • Group revenue was EUR 221.9 (170.2) million, an increase of 30%. Organic increase of 38%.
  • Casino revenue increased by 37%. Sportsbook revenue increased by 19% and the sportsbook margin was 8.0% (8.3%).
  • EBITDA was EUR 54.3 (33.4) million, an increase of 62%. The EBITDA margin was 24.5% (19.6%).
  • Operating income (EBIT) was EUR 43.0 (23.6) million, an increase of 82%. The EBIT margin was 19.4% (13.9%).
  • Net income was EUR 36.6 (20.9) million, corresponding to EUR 0.28 (0.16) per share.
  • Operating cash flow was EUR 48.8 (26.9) million.
  • Net debt was EUR -104.5 (-16.9) million.
  • Active customers decreased by 11% to 1,115,641 (1,256,449).

CEO’s Comments

“Record-strong start to 2023 with positive developments in both sports betting and casino”

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For 60 years we have been offering entertainment in the form of casino games, sports betting and other types of games. Having a long-term perspective is the key when it comes to Betsson’s view about how the business should be run and how value is created for shareholders. In the past years investments have been made to expand geographically to new markets and to strengthen the product offering and the competitive position. We can see that these efforts continue to pay off.

Betsson started 2023 with yet another strong quarter, again delivering record numbers for revenue and EBIT, even though the first quarter has historically often had less activity than other quarters. Revenue increased organically by 38 percent, with sustained positive developments in both sports betting and casino. Geographically, revenue increased in all regions except for the Nordics.

The new business in Argentina is developing well — revenue increased strongly during the quarter, and Betsson continues to invest in marketing to build brand awareness in this regulated market. In February, a third license in the country was obtained, in the province of Cordoba, where a launch will take place later this year. Revenue from B2B continues to increase, which is a sign of strength that reflects the investments made in the past years into product and tech development as well as M&A. Thanks to Betsson’s scalable business model, these investments can be absorbed with maintained or higher profitability over time. EBIT increased by 82 percent and the EBIT margin was 19.4 (13.9) percent during the quarter.

We are proud that Betsson’s involvement in sports is continuing together with clubs, fans and customers. During the quarter, Betsson was the main sponsor of the tennis tournament ATP 250 Chile Open, which took place in February and March in Santiago, Chile. The winner of the tournament was home-grown player Nicolas Jarry, who won his second ATP title this time, after having won the Swedish Open in Båstad in 2019.

Responsible gaming is an integrated part of Betsson’s strategy and a prerequisite for long-term success as a gaming operator. To increase transparency and raise awareness about risky gambling in Sweden and how proactive contacts can change player behaviour, in the first quarter Betsson started to report KPIs for risky gambling for the Swedish market.

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To conclude, the year has started well for Betsson with continued profitable growth and strong cash flows. We can look ahead to the rest of the year with a solid financial position that enables continued investments in sustainable growth and value creation for our shareholders.

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IGT Achieves Improved ESG Score from FTSE Russell

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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russell’s ESG Scores. This was an improvement from IGT’s previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.

“As a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,” Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.

FTSE Russell’s ESG Scores and data model allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each company’s unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russell’s ESG framework.

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Super Group Appoints Merrick Wolman to its Board of Directors

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Super Group has appointed Merrick Wolman to its Board of Directors, effective from February 18, 2025.

Mr. Wolman is the Chief Executive Officer of a global finance company and has worked closely with the Super Group executive team for over two decades.

Neal Menashe, Chief Executive Officer of Super Group, said: “We are very pleased to welcome Merrick to the board. His deep understanding of the gaming industry, alongside his wide range of experience in executive roles, will be of great value as we continue to pursue our global growth strategy and build on our successes to date.”

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This appointment brings the total directors on Super Group’s board to nine, including five independent directors.

The post Super Group Appoints Merrick Wolman to its Board of Directors appeared first on European Gaming Industry News.

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Kindred Reports Decline in Revenue from High-risk Players for Q4 2024

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Kindred Group has reported decline in its share of revenue from high-risk players for the fourth quarter 2024 at 2.7% (Q3 2024 3.2%). The percentage of detected customers who exhibited improved behaviour after interventions showed an improvement at 92.2% (compared to 87.3% in Q3 2024). This positive trend is mainly the result of stricter measures across key markets, improved internal processes, as well as the exit from non-locally licensed markets as part of to the acquisition by La Française des Jeux (FDJ) in October 2024. This shift reflects Kindred’s broader commitment to maintaining high regulatory standards and fostering safer gambling practices.

“It is pleasing to see the decline in high-risk revenue during the fourth quarter of last year. We know that the share fluctuates between quarters, but the long-term trend is showing a steady decline. We remain dedicated and focused on improving our systems and processes to ensure we offer our customers a safe and fun experience,” Esther Scheepers, Head of Responsible Gambling at Kindred Group, said.

“The increased focus on responsible gambling by regulators and the industry is welcomed. From our end, we see that by combining our expertise with emerging technologies, we can further enhance detection capabilities. We are currently working on our existing detection system in combination with an additional system that will enable us to integrate more robust compliance features and optimize our overall approach to safer gambling. Furthermore, we are exploring opportunities to expand our research efforts, aiming to support data-driven discussions and looking at emerging trends in consumer protection. All these aspects are important to protect the integrity of the licence model and maintain a level playing field,” Esther Scheepers added.

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