Friday 23rd February 2007 Betsson Records Healthy Online Casino Profits
Online casino and gambling firm Betsson has published its Full Year Report for 2006 and it makes healthy reading for the Swedish firm.
Betsson recorded that group revenue for the full year January 1 to December 31 increased by 93 percent on the previous year to SEK 391 million ($55 million), with an operating profit of SEK 59.7 million ($8.4 million).
For the fourth quarter of 2006 alone Betsson’s group revenue increased by 100 percent, and operating profits by 183 percent.
Betsson’s online activities were mainly responsible for the increased profits with the number of active customers well up.
Betsson, whose online office is based in Malta, offers a wide range of products to its customers. As well as online poker and casinos, they offer sports betting, betting exchanges and lotteries.
Despite the good reports, it remains to be seen what effect the US ban on online gambling transactions will have on the firm this coming year. Following the decision in October to prevent US customers betting online, Betsson completely shut down Casinodomain.com which had predominantly US customers. All US customers were removed from their other online casinos, CasinoEuro.com and CherryCasino.com. Betsson maintains however that the US market had been a non-priority market for them for some time and that they would continue concentrating their efforts on the European market.
Source: OnlineCasinoNews
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