November 09, 2007

Betsson announces record revenues

Sweden-based betting and gaming group Betsson has reported record revenues and profits according to the company’s third-quarter results statement.

Revenue rose to SEK117m (£13m), up 147% over the period. Operating profit rose to SEK54m (£4m).

The company said the revenue increase had been achieved despite difficulties in the Turkish market following the passing of anti-online gaming legislation. “The gaming volume from Turkey declined significantly, which resulted in Turkey’s share of the group’s total revenues during the third quarter only amounting to 10%.” The company attributed the 4% decrease in active customers to just over 90,000 to the problems in Turkey.

The Scandinavian market remains Betsson’s key markets, however, the company said it had launched Italian, Spanish and Greek language websites over the period.

Since period end the company has also launched a financial betting website, Betsson Trader.