“I am proud that Betsson has delivered all-time high revenues underthe most challenging conditions. Our business has remained financially robust and resilient to this impact, being both diversified and flexible,” added Lindwall.
Regarding how the global pandemic affected the company, Lindwall stated: “It had immediate from March onwards. We responded quickly and decisively to make changes in the offer, and I am particularly pleased to see the strong performance in casino. Sports betting revenues continued to be impacted in the second quarter by the pandemic as expected, however benefited from the progressive return of football and other sporting events at the end of the quarter.”
The Swedish giant is anticipating that an accelerated transition from offline to online could potentially increase the firm’s organic growth opportunities and create chances for strategic acquisitions at attractive prices.
In its latest financial update, Betsson shows that group revenue for the year’s second quarter increased 20% to €149.5 million. While casino revenue increased 40% to reach €142m representing 84% of group revenue. Mobile casino revenue was €102.75m and accounted for 72% of total casino revenue.
Sportsbook revenue in the second quarter was €25.15m, and represented 15% of the total figure.
Gross profit for the quarter jumped 12% to €106.4m, with EBITDA growing 6% from €33.77m.
“Our key focus areas remain the health and safety of both our employees and the societies in which we operate. Early on, we proactively took actions to enable both a safe and effective working environment for the whole group and to ensure delivery of products and services to customers with uninterrupted quality,” commented Lindwall.
“The immediate outlook is naturally uncertain, however Betsson is in good shape and we are in it for the long term. Our proprietary technology is a strategic advantage, our diversification in markets, verticals and brands makes us resilient to market fluctuations and our financials are rock solid. This makes me optimistic about the prospects for Betsson,” Lindwall concluded.