Industry News
Betsson Publishes Interim Report for the Third Quarter of 2023
![betsson-publishes-interim-report-for-the-third-quarter-of-2023](https://gamingnewsroom.com/wp-content/uploads/2023/10/119021-betsson-publishes-interim-report-for-the-third-quarter-of-2023.jpg)
Betsson has published its interim report for the third quarter of 2023.
Highlights
- Group revenue was EUR 237.6 (200.3) million, an increase of 19%. Organic increase of 39%.
- Casino revenue increased by 27%. Sportsbook revenue increased by 2% and the sportsbook margin was 7.3% (8.3%).
- EBITDA was EUR 68.9 (48.6) million, an increase of 42%. The EBITDA margin was 29.0% (24.3%).
- Operating income (EBIT) was EUR 56.0 (38.4) million, an increase of 46%. The EBIT margin was 23.6% (19.2%).
- Net income was EUR 46.2 (32.6) million, corresponding to EUR 0.35 (0.24) per share.
- Operating cash flow was EUR 44.9 (38.5) million.
- Net debt was EUR -65.5 (-54.7) million.
- Active customers increased by 17% to 1,237,238 (1,056,400).
CEO Comments:
Betsson’s third quarter 2023 featured continued high customer activity, strong financial development and further investments in product and new markets. Revenue increased by 19%, driven by casino games, while earnings before interest and taxes (EBIT) increased by 46% compared to the corresponding quarter of the previous year. The revenue and EBIT, which include the acquisition of betFIRST, were the highest ever for Betsson in a single quarter and mark the seventh quarter in a row with sequential growth.
Active customers and deposits increased significantly during the quarter, and turnover was high in both casino and sports betting. The sportsbook margin was 7.3% (8.3) for the quarter and was negatively affected by many favourite wins and goal-rich games during the start of the European football leagues.
Revenue for the Group growth was broad-based with high growth in all major regions except for the Nordics. The geographical expansion continues and several new milestones were passed during the quarter; betFIRST in Belgium was included in the Betsson Group, a launch took place on the locally regulated market in Serbia and a local license for sports betting was obtained in France, where go-live is expected in the fourth quarter. France is an important gaming market in Europe with large long-term potential for online gaming and we now take a first step to be able to offer French players a first-class experience in sports betting. At the end of the summer, the brand Betsson was also introduced in Denmark, which strengthens the Group’s position on the Danish market.
B2B is an important part of Betsson’s growth strategy and work continues to strengthen the B2B offering. In September, Betsson’s sportsbook solution was launched with the operator Bethard.
During the quarter, Betsson’s first-ever global advertising campaign was launched. The theme “A bet makes the difference” focuses on the excitement and entertainment that comes from placing a bet, on sports or casino, rather than the chances of winning. The campaign is part of the marketing strategy to establish Betsson as the Group’s global main brand, aiming to achieve economies of scale and competitive advantages for the business in the long run.
I look forward with confidence to the final sprint of the year. Geographical diversification, a solid balance sheet and strong cash flows create good conditions for continued investments in profitable growth to deliver long-term value creation for our shareholders.
Arthur Paikowsky
Travis Sztainert Joins ICRG as Director of Research and Education
![travis-sztainert-joins-icrg-as-director-of-research-and-education](https://gamingnewsroom.com/wp-content/uploads/2024/06/128884-travis-sztainert-joins-icrg-as-director-of-research-and-education.jpg)
The International Center for Responsible Gaming (ICRG) has welcomed Dr. Travis Sztainert as its new director of research and education. Dr. Sztainert, a distinguished researcher and knowledge translation professional, brings a wealth of experience and expertise in responsible gambling research to the ICRG. With a proven track record in effectively bridging the gap between knowledge, policy, and practice, he will help further the impactful work of the ICRG.
“We are delighted to welcome Dr. Travis Sztainert to the ICRG team. His extensive background in responsible gambling research and his commitment to transforming data into actionable knowledge align perfectly with our organization’s mission. We look forward to leveraging Travis’s insights to advance our efforts in promoting responsible gambling practices,” Arthur Paikowsky, President at ICRG, said.
Industry News
iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’
![igb-l!ve-announce-launchpad,-a-new-feature-for-start-ups-with-‘innovation-in-their-dna’](https://gamingnewsroom.com/wp-content/uploads/2024/06/128810-igb-lve-announce-launchpad-a-new-feature-for-start-ups-with-innovation-in-their-dna.jpg)
Industry professionals attending July’s edition of iGB L!VE will have access to a vibrant new feature which will showcase ground-breaking tech and innovation courtesy of the brightest start-ups and small businesses in gaming.
The iGB L!VE LaunchPad (Pulse Stage: 18 July 16.30hrs – 18.00hrs) will feature five companies to present their innovations to a panel of judges with each presentation followed by a probing Q&A session designed to interrogate the viability and commercial prowess of each product pitch.
Introducing the new feature Portfolio Director Naomi Barton, said: “iGB L!VE is constantly evolving in order to meet the business needs of stakeholders. The research programme that we undertake with customers has consistently highlighted a shared desire to always be ahead of the curve, being the first to access the very latest innovations from the start-up community is part of what iGB L!VE 2024 will deliver.
“In addition, we want to provide a platform for new talented businesses to grow by giving them extra exposure in front of an influential C-Level audience of industry investors and influencers.
“The top five products will be hand-selected by the iGB L!VE team and invited to present from the Pulse Stage. In order to help these businesses, we are providing cash prizes of £5,000 for the winner, £2,500 for second place and £1,000 for third.”
She continued: “We will be giving the feature an authentic iGB L!VE twist with the emphasis on competitive fun. To ensure this, I am delighted to confirm that 25+ year industry veteran and non-exec Clarion Gaming Chairman Michael Caselli has agreed to be our MC and will also head a panel of judges drawn from across the iGB L!VE community of industry professionals, investors and sponsors.
“Start-ups and small businesses which have innovation in their DNA can sign up for iGB LaunchPad at igblive by the 28 June deadline.”
iGB L!VE is the home of the igaming community and the only event that connects the leading igaming affiliates, operators, tech vendors, game providers and suppliers in order to maximise performance and drive tangible business growth in the following 12-18 months. iGB L!VE, which is the fastest growing igaming event, delivers unparalleled business opportunities with attendees having free access to in excess of 300 exhibitors and sponsors occupying 21,000+ square metres of gross space, a figure which is 35% higher than in 2023.
For more information on iGB L!VE (16-19 July 2024: Expo Days 17-18 July) and to register for free visit: igblive website
The post iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’ appeared first on European Gaming Industry News.
Industry News
Ortak x B.F.T.H. Arena Awards 2024 Features Mr. First Ray by Endorphina
![ortak-x-bfth-arena-awards-2024-features-mr.-first-ray-by-endorphina](https://gamingnewsroom.com/wp-content/uploads/2024/06/128760-ortak-x-bfth-arena-awards-2024-features-mr-first-ray-by-endorphina.jpg)
The Ortak x B.F.T.H. Arena Awards 2024 welcomes Endorphina among other top game developers with its Mr. First Ray, a mystical slot game that captures the essence of dawn.
This year’s competition has seen an unprecedented increase in participation, receiving over 100 submissions from more than 70 developers involved in the innovative Ortak initiative. This platform not only promotes collaboration and innovation but also integrates gaming stakes with NFTs on the Bahamut blockchain, thereby broadening investment prospects in the iGaming sector.
Mr. First Ray transports players into a world where each spin can lead to magical wins and enchanting surprises, making it a standout in this year’s entries. As the event approaches, excitement mounts among industry professionals keen to explore this showcase of creativity and excellence in game development, scheduled from July 1 to 4.
Hosted by BetConstruct, the B.F.T.H. Arena Awards provides a prestigious platform for developers to exhibit their creativity and compete for a share of the substantial 3,333,000 FTN prize pool. This year, the event has broadened its scope, introducing new award categories to further celebrate innovation in gaming.
The culmination of the event will see the winners announced at the B.F.T.H. Arena x Harmony Meetup V, ensuring an exhilarating experience for all attendees.
The post Ortak x B.F.T.H. Arena Awards 2024 Features Mr. First Ray by Endorphina appeared first on European Gaming Industry News.
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