Friday 2nd May 2008 Betsson Revenues Up 54 Percent
Swedish online gambling group Betsson announced that player acquisitions rose by 20 percent for the first quarter of 2008 with revenues rising by 54 percent to $38.21 million.
The firm’s revenues for the first quarter were up by 54 percent on the $24.71 million achieved for the same period last year with pre-tax profits also rising to $9.48 million from 2007’s $7.59 million.
The Stockholm-based company stated that the number of active customers grew by 43 percent to 153,000 over the last quarter of 2007 as it targeted five new markets with an acquisition drive. It efforts saw acquisitions from France, Germany, Italy, Greece and Spain rise 20 percent higher than the average intake of clients in Norway, a well established market for the company.
Pontus Lindwall, Chief Executive Officer for Betsson, stated that the company has achieved value in its investment in acquiring and monetising customers in new and established markets. He said that this would bear even greater fruit at this summer’s European football championships in Austria and Switzerland.
“We have prepared for the event by building up our customer base,' said Lindwall.
'Our marketing costs have increased but it has been worth it because we got the customers registered and playing with us. This will enable us to make the most of the football tournament this summer.'
Betsson stated that casino products made up 53.7 percent of its gross profits for the quarter compared with 46.3 percent last year while poker contributed 25 percent, which was down on 2007’s 38.4 percent. However, sportsbook activities generated 18 percent of the total, a rise of three percent, while other gaming products made up the remaining 3.3 percent of gross profits.
Source: OnlineCasinoNews
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