Betsson Reports Good Financial Figures

In this period of turmoil in the international financial markets, gaming company Betsson reports good financial results.  The company, listed in Sweden, reported a 52 percent rise in revenues during the third quarter of 2008.

The company also reported a 26 percent rise in operating profit and also an increase in their customer base.  There was a 40 percent increase to 127,300 active customers.  Most of their profits came from their casino revenues which were up 14 percent.  The contribution of their sportbook operation was unchanged, while poker was up 4 percent and other products up by 29 percent. 

Even though Betsson has had some problems with the law, they claim that they are operating legally within the EU framework.  This is in regard to the land betting shop that they opened in Sweden.  The company says that they plan to continue operating the land betting shop.

October was the big month for Betsson where their revenues reached the highest levels they ever have.  This coincided with their introduction of the Affiliate Lounge program. 

The company presents a positive picture for the first nine months of 2008.  There was a growth of 77 percent in casino operations over the same period for last year.  Sportbook revenues increased by 188 percent and other products by 471 percent.  The only decline for the period was in poker where revenues declined by 29 percent. 

Most of Betsson’s market is in the Scandinavian countries and they showed a growth rate of 17 percent in this market.  Growth in the overall EU was down by 3 percent.

Posted: November 8, 2008

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