Malta-based gaming company Betsson Group published its results for the second quarter of 2021, which show considerable growth and an all-time high profit.
The group’s revenue in said quarter was SEK 1,751.6 million – equivalent to around €170 million. Betsson saw a 125 per cent increase in Sportsbook revenue and a five per cent decrease in Casino revenue. The company’s number of active customers grew by 25 per cent to 1,027,635.
Betsson CEO Pontus Lindwall attributed these favourable results to the company’s “stable and scalable business model.”
“The second quarter is proof of the strength of our business model. We have achieved an all-time high profit based on our scalability and geographic spread, we have strong growth in Latin America, and we have strengthened our B2B-offering through the agreements that have entered with Strive Platform Limited and Masterpiece Gaming,” Mr Lindwall said.
Mr Lindwall also highlighted how Betsson Group made the most of recent international sporting events such as the CONMEBOL Copa America and the Euro 2020.
“The ability to take advantage of these big sporting events is connected to the constant development of functions in the sportsbook to improve customer experience… the successes connected to both CONMEBOL Copa America and the Euro 2020 also paving the way for next year’s World Cup in football,” he continued.
Throughout Q2, Betsson gained market share in a number of locations, however it performed strongest in Peru and Brazil, where it is now the market leader. The company is now looking to invest further in the United States.
“In April we invested in a strategic ownership in a new Player Account Management system, the Strive Platform, and Betsson’s sportsbook has now been integrated into the platform. In my view, this combination makes the US investment even more exciting,” Mr Lindwall said.
‘Malta thrives on the power of jurisdictional innovation’ – Economist Stephanie Fabri
The economist sets out four areas of improvement Malta needs to take seriously to maintain its competitive edge.
‘As a stock exchange, we recognise the challenges companies face’ – MSE Exec Chairman Joseph Portelli
Malta Stock Exchange will hold its first annual Governance, Risk and Compliance Summit on 2nd February 2023.
Emanuel Zammit pinpoints five reasons why counteroffers ‘do not work’ and should be avoided
The recruitment specialist explains how underlying issues cannot simply be solved through counteroffers.
Albert Bonello appointed Managing Director Finance and Administration at AX Group
Nicky Camilleri has also been named Chief Operations Officer at the group.
