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BETSSON AB (PUBL) INTERIM REPORT APRIL – JUNE 2022
All-time high revenue driven by sportsbook performance and growth in Latin America and the CEECA region
QUARTER APRIL – JUNE 2022
• Group revenue was EUR 186.3 (172.8) million, an increase of 8%. Organic increase of 13%.
• Casino revenue increased by 1%. Sportsbook revenue increased by 22% and the sportsbook margin was 8.3% (8.5%).
• EBITDA was EUR 39.3 (46.6) million, a decrease of 16%. The EBITDA margin was 21.1% (27.0%).
• Operating income (EBIT) was EUR 29.2 (37.8) million, a decrease of 23%. The EBIT margin was 15.7% (21.9%).
• Net income was EUR 28.6 (33.3) million, corresponding to EUR 0.21 (0.24) per share.
• Operating cash flow was EUR 37.8 (56.3) million.
• Net debt was EUR -19.8 (14.6) million.
• Active customers increased by 21% to 1,246,719 (1,027,635).
CEO COMMENT
“All-time high revenue driven by sportsbook performance and growth in Latin America and the CEECA region”
Betsson’s second quarter featured continued good growth with all-time high revenue and further investments to support our expansion. The Group’s organic growth was 13 percent, mainly driven by Latin America and the CEECA region (Central and Eastern Europe and Central Asia), where we see long-term growth potential as these markets still have a low share of online gaming.
The sportsbook business showed a strong development in the quarter – gross turnover increased by 20 percent and the margin was 8.3 (8.5) percent – leading to all-time high revenue. Some of the football World Cup qualifiers in June ended in particularly favourable outcomes for Betsson and contributed positively to the margin in the quarter. Casino gross turnover also reached a new quarterly all-time high, while revenue came in at the second-best level ever.
Betsson’s strategy is based on diversified revenues from existing and new markets, and in June Betsson became majority owner of the local gaming operator Betbonanza in Nigeria. Since last year, the regulated market in Germany is marked by a low level of channelisation, due to extensive restrictions, high taxes, and an unclear licensing process. During the quarter, a decision was taken to only apply for one online casino license in Germany. On the sports side, Betsson continues to offer betting on horses through the Racebets brand and has a sportsbook license which is currently not operated.
The B2B initiatives continue according to plan, and discussions are currently being held with several potential sportsbook customers in both North America and other parts of the world. The Group’s ownership in the technology platform provider Strive, focused on North America, increased from 35 to 40 percent during the quarter. Strive provides a new, purpose-built and modern US iGaming platform, i.e. Player Account Management system (PAM), which supports Betsson’s US strategy.
Operating income (EBIT) amounted to 29.2 (37.8) MEUR, corresponding to an EBIT margin of 15.7 (21.9) percent. The cost increase compared to last year was driven by the general expansion while the change in geographic mix, with a higher revenue share from Latin America and no revenue from the Netherlands, led to a lower realised margin. We continue to invest in product and tech development to secure that we have a competitive product for all our markets. Our sportsbook offering was strengthened in motor sports, table tennis and esports, resulting in a significant increase in the number of live events offered for betting. In Sweden, a new native app was developed for the brand Jalla Casino, and our live casino offering was broadened in Italy. On top of the positive financial development in the second quarter, we also won six industry awards in different categories related to an attractive customer offering and a sustainable business model for gaming.
Betsson’s commitment to football continues. After eleven years of waiting, AC Milan once again were crowned Italian champions and we share the fans’ great joy in recapturing the scudetto. In May, the sponsorship with AC Milan was renewed, which means that Betsson now also becomes exclusive sponsor for the club in Latin America. The region is important for the club with millions of fans and the history of stars like Kaká and Ronaldinho. Further, similarly to last summer Betsson is a proud sponsor of Copa America Femenina 2022, which is the Latin American equivalent of the UEFA Women’s Euro 2022 and takes place during July. The interest in women’s football is growing strongly and the previous championship had more than 20 million TV viewers.
In conclusion, we see that macro and geopolitical factors continue to dominate the world around us, with great uncertainty and concerns around war, inflation, higher interest rates and potentially a coming recession. Despite uncertain capital markets, we recently refinanced our bond until 2025, which gives us financial flexibility to continue investing in both organic growth and selective acquisitions. We continuously monitor the macroeconomic trends but also note that historically Betsson’s business has been relatively unaffected by the general business cycle. The first weeks of July are off to a good start and despite the macro factors, we are rather optimistic as we look ahead to the rest of 2022, which has many planned activities for Betsson, including market launches in Mexico and Ontario, as well as the football World Cup during the seasonally strongest fourth quarter.
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Playtech: Appointment of Non-executive Director and Chairman Elect

The Board of Directors of Playtech, the leading platform, content and services provider in the online gambling industry, has announced that John Gleasure has been appointed to the Board with a view to his succeeding Brian Mattingley as Non-executive Chairman.
John joins the Board as an independent Non-executive Director and Chairman Elect, and is expected to assume the role of Chairman after Playtech’s annual general meeting in May 2025, at which time Brian will step down as Chairman and from the Board.
John brings 30 years of experience across the sports, media and technology sectors, in addition to relevant Board experience from a range of international companies. He currently serves as a Non-executive Director at DAZN Group, the leading global sports subscription service, and is a Non-executive Director (and previously Executive Chairman) at The Sporting News, a global digital publisher. John was a founder of Perform, a digital sports media business, growing it into a leading provider of live data and content to online betting groups before the business listed in 2011. John previously held leadership roles at Sky Sports, Hutchison 3G and Sony Pictures.
Brian Mattingley, commenting on the changes, said: “We are very pleased to welcome John to our Board as a new Non-executive Director and Chairman Elect. John’s significant experience and knowledge will be a tremendous asset for Playtech as it continues its transformation into a predominantly pure-play B2B business. I look forward to giving him every support during this period of transition.”
John Gleasure, commenting on his appointment, said: “I am delighted to be joining Playtech at such a pivotal moment in its history. Playtech is a unique and highly innovative business, underpinned by market-leading technology and relationships with the world’s leading gambling operators. I’m excited about the opportunities ahead, and I look forward to working with everyone at Playtech to drive forward its strategy and create further value for our shareholders.”
The post Playtech: Appointment of Non-executive Director and Chairman Elect appeared first on European Gaming Industry News.
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Ladbrokes to sponsor 2025 Thirsk Hunt Cup

Thirsk Racecourse has announced that Ladbrokes will sponsor the 2025 Thirsk Hunt Cup.
First run in 1859, the £50,000 mile handicap is Thirsk’s most prestigious race and highlight of Thirsk Hunt Cup Day on Saturday, May 3.
Ladbrokes is the biggest and best-known betting brand in the UK with over 1500 betting shops, a digital betting business and a long-standing association with horse racing dating back many decades.
The company boasts a strong sponsorship portfolio in horse racing, including Kempton Park’s Ladbrokes Christmas Festival, the Ladbrokes Chester Cup and the Ladbrokes Chase at the Dublin Racing Festival.
Ladbrokes also sponsors leading Jump trainer Dan Skelton, who writes a weekly blog as he bids to win the British Jump trainers’ championship for the first time.
Farhh is the most notable winner of the Thirsk Hunt Cup in recent years, taking the 2012 edition by six lengths before a memorable Group 1 double the following year in the Lockinge Stakes at Newbury and Ascot’s Champion Stakes.
Simon Clare, PR Director for Ladbrokes, said: “We are excited to sponsor such an iconic and prestigious race as the Thirsk Hunt Cup, and look forward to partnering with Thirsk Racecourse as we seek to strengthen our support and promotion of the sport.”
James Sanderson, Chief Executive and Clerk of the Course, said: “We are delighted to have Ladbrokes sponsoring the Thirsk Hunt Cup and its supporting programme in 2025. The £50,000 Ladbrokes Thirsk Hunt Cup is an early Flat season highlight in the North and we are very grateful for Ladbrokes’ most valued support.
“Over the past 10 years, northern-based trainers have held a vice-like grip on the contest, with the notable exception of Mick Channon (and STORTING) in 2021. Thirsk always welcomes challengers from far and wide but taking the 2025 Ladbrokes Thirsk Hunt Cup down south will be no easy task.”
The post Ladbrokes to sponsor 2025 Thirsk Hunt Cup appeared first on European Gaming Industry News.
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Arturs Korolkovs, Media 24: “Radical Transparency Is Our Strategy”

We’ve recently sat down with Arturs Korolkovs, Head of Sales at affiliate marketing company Media 24, to talk about building long-term partnerships in iGaming, his approach to industry events, and key trends of the affiliate sector — from deal structures and listing fees to navigating increased competition.
When did you join Media 24 and how has your role evolved since then?
I joined the company in 2020, right in the middle of COVID. It was a time of big changes for a lot of people, both in work and in life. I was actually the company’s first employee, and together, we worked on launching our first website.
In the beginning, I had little formal experience in sales or partner management, so I was doing a bit of everything. Uploading content, editing videos, handling social media. But as the company grew, so did my role. Over time, I transitioned fully into partner management, starting as an account manager and working my way up to the Head of Sales.
You attend many conferences and industry events throughout the year. What are your main priorities and how do you measure success there?
In the early days, conferences were more like hunting. Pure acquisition mode, trying to get our name out there and sign initial deals. Now, it’s a far more strategic play. Maintaining relationships, gaining new insights, and staying ahead of industry trends. Conferences aren’t just about sales. It’s an opportunity to gather valuable information that helps both the company and my own professional growth.
How we measure success has shifted too. It’s not solely about the number of contracts signed right there and then, though we certainly track leads that convert into long-term partnerships. We evaluate success by asking: Did we meaningfully strengthen ties with our top-tier partners? Did we gain specific, actionable insights – perhaps about competitor moves or regulatory shifts that will impact our strategy? And did we initiate promising conversations that lay the groundwork for valuable, long-term collaborations? That deeper, strategic ROI is what defines a successful conference for us now.
What are the key factors you consider when deciding whether to start a partnership with a specific operator?
Beyond the obvious things like relevant GEOs and a strong product, the initial communication with the affiliate manager is a massive factor. Are they responsive? Do they communicate clearly? This is the person you’ll be working with long-term, so having a good connection is crucial.
And yes, reputation is critical. The industry is smaller than it looks. Over time, you build a network, and there’s always ways to ask around and get feedback about a brand.
What’s your approach to building long-term relationships with partners?
Radical transparency. We’re open about our traffic sources, our methods, and even potential challenges we foresee. And we expect the same from the operator. Hiding bad news does more harm than good in the long run.
Beyond that, it’s important to proactively add value. By sharing market insights, providing constructive feedback, and maintaining regular meaningful contact. It’s about creating a relationship where both sides feel invested in the other’s success. The more open and proactive the communication, the stronger the partnership.
A lot of affiliates are working with the CPA deals, others prefer Rev Share. What’s Media 24’s approach here and why?
Ideally, a hybrid model works best. But if I had to choose between CPA and Rev Share, I’d go with Rev Share. For SEO traffic, it’s the most effective and sustainable model in the long run. And it’s probably the fairest model for both sides of the deal.
CPA can be situationally useful. Maybe for testing a new, unproven GEO, or launching a new project. But if we’re talking about a long-term strategy and good traffic quality, Rev Share wins every time.
There’s a differing opinion about listing fees in the industry. What’s your take on this?
We see listing fees as a mechanism for building strong and sustainable partnerships. In most cases, especially with new partners, we prefer to work with listing fees. Look, when we onboard a new brand, we’re investing significant resources immediately. Creating content, SEO, traffic allocation — all that requires a budget. This happens before we see a single dollar in commission. And without any guarantees on performance, GEO stability, or long-term commitment from the operator.
At the same time, we always take a flexible approach. For trusted, long-term partners with a strong track record, we are open to alternative structures. It’s all about finding a setup that works for both sides and ensures mutual long-term growth.
How can affiliate marketing companies handle increased competition and what are the ways to stand out in the industry?
Quality over quantity. A lot of affiliates still focus on pumping out mass content, but that approach is becoming less effective. Today you seriously have to focus on product improvements and user experience. The best way to stand out is through strong branding, engaging content, and a clear value proposition.
Building long-term relationships with partners also plays a huge role. In a crowded market, reputation and the ability to collaborate strategically become powerful differentiators. At Media 24, we believe in growing together with our partners, and that long-term thinking continues to pay off.
The post Arturs Korolkovs, Media 24: “Radical Transparency Is Our Strategy” appeared first on European Gaming Industry News.
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