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BETSSON AB (PUBL) INTERIM REPORT APRIL – JUNE 2022

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All-time high revenue driven by sportsbook performance and growth in Latin America and the CEECA region

 

QUARTER APRIL – JUNE 2022
• Group revenue was EUR 186.3 (172.8) million, an increase of 8%. Organic increase of 13%.

• Casino revenue increased by 1%. Sportsbook revenue increased by 22% and the sportsbook margin was 8.3% (8.5%).

• EBITDA was EUR 39.3 (46.6) million, a decrease of 16%. The EBITDA margin was 21.1% (27.0%).

• Operating income (EBIT) was EUR 29.2 (37.8) million, a decrease of 23%. The EBIT margin was 15.7% (21.9%).

• Net income was EUR 28.6 (33.3) million, corresponding to EUR 0.21 (0.24) per share.

• Operating cash flow was EUR 37.8 (56.3) million.

• Net debt was EUR -19.8 (14.6) million.

• Active customers increased by 21% to 1,246,719 (1,027,635).

 

CEO COMMENT
 

“All-time high revenue driven by sportsbook performance and growth in Latin America and the CEECA region”

Betsson’s second quarter featured continued good growth with all-time high revenue and further investments to support our expansion. The Group’s organic growth was 13 percent, mainly driven by Latin America and the CEECA region (Central and Eastern Europe and Central Asia), where we see long-term growth potential as these markets still have a low share of online gaming.

The sportsbook business showed a strong development in the quarter – gross turnover increased by 20 percent and the margin was 8.3 (8.5) percent – leading to all-time high revenue. Some of the football World Cup qualifiers in June ended in particularly favourable outcomes for Betsson and contributed positively to the margin in the quarter. Casino gross turnover also reached a new quarterly all-time high, while revenue came in at the second-best level ever.

Betsson’s strategy is based on diversified revenues from existing and new markets, and in June Betsson became majority owner of the local gaming operator Betbonanza in Nigeria. Since last year, the regulated market in Germany is marked by a low level of channelisation, due to extensive restrictions, high taxes, and an unclear licensing process. During the quarter, a decision was taken to only apply for one online casino license in Germany. On the sports side, Betsson continues to offer betting on horses through the Racebets brand and has a sportsbook license which is currently not operated.

The B2B initiatives continue according to plan, and discussions are currently being held with several potential sportsbook customers in both North America and other parts of the world. The Group’s ownership in the technology platform provider Strive, focused on North America, increased from 35 to 40 percent during the quarter. Strive provides a new, purpose-built and modern US iGaming platform, i.e. Player Account Management system (PAM), which supports Betsson’s US strategy.

Operating income (EBIT) amounted to 29.2 (37.8) MEUR, corresponding to an EBIT margin of 15.7 (21.9) percent. The cost increase compared to last year was driven by the general expansion while the change in geographic mix, with a higher revenue share from Latin America and no revenue from the Netherlands, led to a lower realised margin. We continue to invest in product and tech development to secure that we have a competitive product for all our markets. Our sportsbook offering was strengthened in motor sports, table tennis and esports, resulting in a significant increase in the number of live events offered for betting. In Sweden, a new native app was developed for the brand Jalla Casino, and our live casino offering was broadened in Italy. On top of the positive financial development in the second quarter, we also won six industry awards in different categories related to an attractive customer offering and a sustainable business model for gaming.

Betsson’s commitment to football continues. After eleven years of waiting, AC Milan once again were crowned Italian champions and we share the fans’ great joy in recapturing the scudetto. In May, the sponsorship with AC Milan was renewed, which means that Betsson now also becomes exclusive sponsor for the club in Latin America. The region is important for the club with millions of fans and the history of stars like Kaká and Ronaldinho. Further, similarly to last summer Betsson is a proud sponsor of Copa America Femenina 2022, which is the Latin American equivalent of the UEFA Women’s Euro 2022 and takes place during July. The interest in women’s football is growing strongly and the previous championship had more than 20 million TV viewers.

In conclusion, we see that macro and geopolitical factors continue to dominate the world around us, with great uncertainty and concerns around war, inflation, higher interest rates and potentially a coming recession. Despite uncertain capital markets, we recently refinanced our bond until 2025, which gives us financial flexibility to continue investing in both organic growth and selective acquisitions. We continuously monitor the macroeconomic trends but also note that historically Betsson’s business has been relatively unaffected by the general business cycle. The first weeks of July are off to a good start and despite the macro factors, we are rather optimistic as we look ahead to the rest of 2022, which has many planned activities for Betsson, including market launches in Mexico and Ontario, as well as the football World Cup during the seasonally strongest fourth quarter.

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Midnite named betting and casino partner of World Snooker Championship

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World Snooker Tour is delighted to announce Midnite as the new official UK betting and casino partner of the Halo World Championship.

Snooker’s greatest event, the Halo World Championship, will run from April 19th to May 5th at the Crucible in Sheffield.

Kyren Wilson will be defending the title in a field of 32 of the world’s best players, all dreaming of lifting the famous trophy which was first contested in 1927.

The Crucible, famous across the globe as the home of the event since 1977, will be packed through the 17 days as fans flock to see the all-time greats competing for a top prize of £500,000.

A global audience of 500 million will watch the event live on BBC, TNT Sports, Eurosport, CCTV5, WST Play and many other platforms worldwide.

Midnite is one of the UK’s fastest-growing betting companies thanks to its player-first experiences and a next-generation app that brings fans closer to the games they love.

Midnite is promising to delight snooker fans by delivering a series of memorable moments throughout the 2025 World Championship, including giving away three pairs of Century Club tickets for the final session.

Midnite’s sportsbook was launched in 2018 by Nick Wright and Daniel Qu, who previously created daily fantasy sports platform Dribble in partnership with Sky Bet.

Midnite co-founder Nick Wright said: “We are dedicated to bringing fans closer to the game they love. It doesn’t get any more intimate than the fan experience at the Crucible for the World Snooker Championship, where the sport’s most unforgettable moments are created.

“Our partnership will be more than just a logo in the background. We are looking forward to unveiling a series of fan-first activities throughout the tournament and making sure Midnite is in the middle of more magical memories.”

Peter Wright, Chief Commercial Officer of WST, said: “We are thrilled to join forces with Midnite for the first time on our biggest tournament. They are an ambitious brand, committed to the user experience and to bringing fans together to enhance interaction using technology which pushes boundaries. Most importantly, they place the highest priority on having fun in a responsible way on their platforms.

“They are excited to join our journey as a sport because, through the World Championship, we can offer massive exposure for Midnite’s brand on a global scale. We look forward to working with their team across the 17 days. There have been so many great moments at the Crucible, my own favourite is the last frame of the 2023 final when Luca Brecel won the title as it was incredible to see such a flamboyant young player bring the crowd to its feet with his style of snooker.”

Snooker stars’ memorable moments

Naming their favourite Crucible moments, leading stars said:

Kyren Wilson: “It has to be winning the title last year. I remember stretching for the final red and knowing that if I potted it I was World Champion. I looked up to my family and my son Finley was clenching his fist saying ‘come on!’ In the celebration afterwards I cuddled my kids and Finley shouted ‘Dad, you’ve done it, you’re World Champion!’”

Mark Selby: “Making my debut at the Crucible in 2005. I had never even been there to watch, so when I qualified for the first time it was an amazing feeling. Then I was drawn against John Higgins, so that was extra special, to walk out for the first time and to play against a legend like John.”

Neil Robertson: “In terms of a single moment, it has to be my 147 in 2022. As a kid I grew up watching the videos of Cliff Thorburn, Jimmy White, Stephen Hendry and Ronnie O’Sullivan making 147s at the Crucible. It was something I always wanted to do, and when it happened my mum was in the crowd as well which made it something I will never forget.”

The post Midnite named betting and casino partner of World Snooker Championship appeared first on European Gaming Industry News.

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Veteran Marketer Charles Kaplan Takes on CMO Role at Stats Perform

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Stats Perform, the sports industry’s leading provider of AI technology, live data and insights, announced that tech marketing veteran Charles Kaplan has been appointed as Chief Marketing Officer (CMO), effective April 21, 2025. In this role, Mr. Kaplan will lead the Company’s marketing capabilities, in addition to its Opta data insights and editorial services. He will also manage Stats Perform’s sports news teams and the Opta Content Agency, which provides data-led features, compelling storytelling and creative campaign support to help sports organizations, brands and media outlets engage fans and grow their audiences.

Mr. Kaplan brings nearly 25 years of marketing, product management, and revenue growth expertise to Stats Perform, with a strong track record of driving business expansion and market leadership on a global scale. He most recently served as Chief Product and Marketing Officer at Wynshop, where he helped launch the company on a path to becoming the leading provider of digital commerce and fulfillment solutions for local store-based retailers. Previously, Mr. Kaplan held leadership roles at Mi9 Retail, including Chief Revenue Officer and Chief Marketing Officer, where he directed go-to-market strategy, revenue generation, and business growth. Earlier in his career, he gained extensive experience in international marketing, business development and product management through leadership roles at MicroStrategy, Lexmark Enterprise Software, and Brainware. Mr. Kaplan received a Bachelor of Arts in Psychology from Vanderbilt University and an MBA from the University of Virginia’s Darden School of Business.

Carl Mergele, Chief Executive Officer, said, “A dynamic company like Stats Perform requires equally dynamic and forward-looking thinking with its marketing, and Charles is the ideal fit to lead our marketing function. His unique skillset makes him a valuable overall addition to the Stats Perform management team as we continue to execute on our growth strategy and revolutionize the way sports are viewed. Coming off our most successful year yet, we are excited to benefit from Charles’ leadership and marketing prowess and build on the momentum generated in the first quarter of 2025.”

“I am thrilled to be joining the Stats Perform team at such a critical time in the company’s history,” said Mr. Kaplan. “I have long admired Stats Perform for its unmatched depth and breadth of data, AI, sports research, news and video content capabilities that have effectively shaped – and transformed – the sports technology and data industry. I look forward to working closely with the executive team as we meet the rapidly growing demand for in-depth sports insights and data-driven content, delivering comprehensive and real-time AI-powered solutions and performance analytics to enhance understanding, prediction, and fan engagement in sports.”

The post Veteran Marketer Charles Kaplan Takes on CMO Role at Stats Perform appeared first on European Gaming Industry News.

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Caesars Southern Indiana Hotel & Casino

Workers at Caesars Southern Indiana Casino Authorize Strike

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More than 140 workers at Caesars Southern Indiana Hotel & Casino, represented by Teamsters Local 89 and Operating Engineers Local 399, have voted by a 98% margin to authorize a strike. The overwhelming vote is a direct response to management’s refusal to offer a fair contract.

“Our members are united and ready to fight for the strongest possible agreement. This vote sends a clear message — we will not back down. If management won’t negotiate in good faith, we’re prepared to take action,” said Avral Thompson, President of Local 89.

Caesars Southern Indiana, owned and operated by the Eastern Band of Cherokee Indians (EBCI), pulled in more than $240 million in revenue last year, making it one of the most profitable casinos in the state. Workers are demanding a contract that reflects their essential contributions to that success.

“I’ve worked at Caesars for over seven years, and we deserve a contract that values our hard work and dedication. No one wants to strike, but if management keeps disrespecting us at the bargaining table, we’re ready to demand what we’ve earned,” said Sandra Ramirez, a slot attendant at Caesars Southern Indiana and a member of Local 89.

After months of negotiations, management at Caesars Southern Indiana continues to refuse to offer fair retirement benefits and remains far apart on other key economic issues.

“At this point, the ball is entirely in management’s court. If Caesars faces a strike, management will have no one to blame but themselves for the fallout. We stand ready to back our members every step of the way,” said Teamsters General Secretary-Treasurer Fred Zuckerman.

The post Workers at Caesars Southern Indiana Casino Authorize Strike appeared first on Gaming and Gambling Industry in the Americas.

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