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Betsson Ab Interim Report April – June 2020
Group revenue was SEK 1,532.8 (1,277.7) million, an increase of 20% with an organic increase of 12%.
Casino revenue increased by 40%. Sportsbook revenue decreased by 34% and the sportsbook margin was 6.9% (7.8%).
Operating income (EBIT) was SEK 217.7 (196.9) million.
The EBIT margin was 14.2% (15.4%).
Operating cash flow was 343.9 (390.6) million.
SIGNIFICANT EVENTS AND OUTLOOK
Acquisition of GiG’s B2C vertical completed.
New market entries into Colorado (USA) and Kenya.
The AGM in June resolved on dividend paid to shareholders in July of SEK 2.88 per share, corresponding to SEK 393.6 million.
The daily average revenue in the third quarter 2020 until 16 July was 35% (23% organic) higher than the average daily revenue of the full third quarter 2019.
CEO COMMENT
“I am proud that Betsson has delivered all-time high revenues under the most challenging conditions.”
“The second quarter was strong and followed the positive trend from the start of the year despite market challenges during this extraordinary period. The global pandemic had immediate effect on the Company from March onwards. We responded quickly and decisively to make changes in the offer, and I am particularly pleased to see the strong performance in casino. Sports betting revenues continued to be impacted in the second quarter by the pandemic as expected, however benefited from the progressive return of football and other sporting events at the end of the quarter. Our business has remained financially robust and resilient to this impact, being both diversified and flexible.
Our key focus areas remain the health and safety of both our employees and the societies in which we operate. Early on, we proactively took actions to enable both a safe and effective working environment for the whole Group and to ensure delivery of products and services to customers with uninterrupted quality.
From March to date, we have seen many changes in habits of how people work, interact, shop and enjoy entertainment, many enabled by advancements in technology and the use of digital devices. We believe the ongoing transition from offline to online has been further accelerated as a consequence of the global lockdowns. This will benefit the strategic direction of our business both short and long term.
In the quarter, we continued executing our strategic priorities, pushing through projects in accordance with the strategic plan. Betsson successfully completed the acquisition of the B2C operation from GiG and remotely onboarded approximately 60 new colleagues. We signed an agreement with Dostal Alley Casino in Colorado to enter the high-potential US market. Initially, we will start with B2C sports betting in the state of Colorado, with the ambition to sell our proprietary sportsbook to B2B customers in the future. In this quarter, we have also taken the first steps into Kenya by partnering with local partners. After the quarter, we have taken further steps to strengthen our position in South America where Betsson has expanded its presence in the only regulated market by acquiring 70% of the Colombian based operator Colbet. This deal will give us access to the Colombian market for online sport betting and casino.
The majority of our employees have been working from home and in the true `One Betsson’ spirit, we have all continued striving towards creating the best user experiences. This has been delivered through the full dedication of the teams, enabled by the quality of both our technical infrastructure and digital content. I am enormously proud of and thankful to all our people for their continued hard work and commitment to keeping the business momentum.
During this pandemic, governments have been modelling a range of scenarios of potential impact, several governments took immediate temporary actions on our industry such as either suspending gambling both offline and online or implementing restrictions on marketing. In the beginning of the third quarter, when most countries had removed Corona-related restrictions, Sweden sadly enough implemented restrictions on online casino, without empirical evidence. This measure will unfortunately push even more consumers to play outside of the Swedish regulation.
The immediate outlook is naturally uncertain, however Betsson is in good shape and we are in it for the long term. Our proprietary technology is a strategic advantage, our diversification in markets, verticals and brands makes us resilient to market fluctuations and our financials are rock solid. This makes me optimistic about the prospects for Betsson.”
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DoubleDown Interactive Enters into Agreement to Acquire German Social Casino Operator WHOW Games

DoubleDown Interactive, a leading gaming company delivering exceptional player experiences across multiple genres, announced that it has entered into a Share Purchase and Transfer Agreement with Azerion Tech Holding to acquire WHOW Games GmbH, a social casino developer headquartered in Hamburg, Germany.
The initial consideration for 100% ownership interest in WHOW Games is €55 million (approximately $64.7 million). An additional earn-out payment of up to €10 million, payable to Azerion at €5 million annually, is contingent upon WHOW Games meeting certain performance targets during each of the first and second year following the closing date. The acquisition will be financed through DoubleDown’s cash reserves and is expected to close during the third quarter of 2025.
DoubleDown intends to leverage WHOW Games’ proven expertise in the Europe market and partner-driven business model alongside its own operational strength, marketing capabilities and extensive gaming content to pursue growth opportunities in Europe, particularly in Germany. According to research from Eilers & Krejcik Gaming LLC, the European social casino market grew in 2023 and 2024 as compared to the overall market which has entered a mature stage. WHOW Games offers a versatile portfolio of social casino apps with proprietary brands such as MyJackpot and Lounge777 as well as third-party labeled social casino offerings including Merkur24 through strategic licensing agreements with prominent global brick and mortar casino companies.
In Keuk Kim, Chief Executive Officer of the Company, said: “This acquisition marks a significant step toward increasing our competitiveness in the growing German social casino market. Leveraging our combined operational expertise and enhanced scale, we aim to unlock valuable synergies. We are delighted to welcome the WHOW Games team to DoubleDown and look forward to working collaboratively on initiatives to drive growth across the business.”
Giovanni Valerio Valeriota, Chief Executive Officer of WHOW Games, said: “We are excited to begin this new chapter as part of the DoubleDown family. Their deep expertise in gaming makes them a natural fit for WHOW Games, and we believe that this partnership will accelerate our growth and innovation. I would like to express our sincere gratitude to Azerion, whose support and strategic guidance during our time together has been instrumental in shaping WHOW Games into the strong and dynamic company it is today.”
The post DoubleDown Interactive Enters into Agreement to Acquire German Social Casino Operator WHOW Games appeared first on European Gaming Industry News.
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Swintt Joins Forces with TOPsport to Capitalize on Lithuanian Market

Swintt – the award-winning software provider behind recent slot sensations Big Max Pot Hunter and Big Fish – has announced it has formed a new partnership with established Lithuanian betting brand, TOPsport, that will see the studio further raise its profile in the country.
With the new deal now in place, Swintt is already live with 36 Premium releases on the TOPsport platform, with these giving players access to a roster of classically-themed games that combine the design elements of traditional land-based slots with exciting mechanics and bonus features.
Established in 2002, TOPsport is Lithuania’s first and largest gambling operator, boasting a strong bricks-and-mortar presence that includes 50 casino slot saloons spread across 26 towns in addition to its online enterprise. Given the brand’s rich land-based heritage, the SwinttPremium range seems to be ideally suited for its customers, who will enjoy the slots’ familiar look and feel.
Among the Premium options now available at TOPsport.lt, players will be particularly keen to try the acclaimed Extra Win X, which adds an innovative Bonus Wheel to the iconic fruit machine format, and Max The Winner, which features a unique gathering mechanic that sees the titular cartoon squirrel appear on the reels during the bonus feature to collect acorns and award prizes.
With these just being two of the standout examples from the new collection of Swintt slots that are now available at TOPsport.lt, the brand will be able to further cement its reputation as the country’s leading operator while Swintt continues to reach more players in the Lithuanian market.
David Mann, Chief Executive Officer at Swintt, said: “With TOPsport being Lithuania’s oldest and most-trusted betting brand, we’re delighted to be able to introduce our Premium releases to players on the platform. With all of these games offering themes and features that are inspired by traditional land-based slot machines, we’re sure they’ll prove a popular addition to their line-up.”
Linas Dargenavičius, Chief Commercial Officer at TOPsport, said: “With a diverse library of over 3,000 slot titles, TOPsport offers the most extensive selection of online casino games in Lithuania. The addition of SwinttPremium titles further strengthens our portfolio, bringing in games that resonate with players familiar with classic land-based machines. Their engaging mechanics make them a valuable extension of the experience we aim to provide.”
The post Swintt Joins Forces with TOPsport to Capitalize on Lithuanian Market appeared first on European Gaming Industry News.
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SYNOT Games Announces Strategic Partnership with Starcasino NL

SYNOT Games has announced a strategic partnership with Starcasino NL, a licensed online casino in the Netherlands. This collaboration marks a key milestone in SYNOT Games’ expansion in the Dutch market and highlights its mission to deliver engaging gaming experiences worldwide.
As part of this partnership, Starcasino NL will seamlessly integrate SYNOT Games’ extensive and diverse portfolio of slots, including acclaimed titles such as Firebird 27, Legend of Medusa and Wild Vaults. These games are celebrated for their captivating gameplay, cutting-edge features and immersive audiovisual design, offering players a dynamic and entertaining experience that sets a new benchmark in the iGaming sector.
“Our mission has always been to provide entertainment of the highest standard while prioritizing safety and transparency. By partnering with trusted and fully licensed operators like Starcasino, we’re reinforcing our position in the Netherlands and showcasing our dedication to responsible growth in the iGaming sector,” said Martina Krajčí, Chief Commercial Officer at SYNOT Games.
“We’re proud to join forces with SYNOT Games, whose creativity and technical excellence are truly inspiring. This partnership lets us offer Dutch players an even richer and more thrilling gaming experience, while staying true to our core values of fairness, trust, and fun,” said Pieter van den Bos, Director at Starcasino NL.
By teaming up with Starcasino NL, SYNOT Games is not only strengthening its foothold in the Netherlands but also contributing to a thriving and competitive gaming ecosystem driven by innovation and responsible gaming practices.
The post SYNOT Games Announces Strategic Partnership with Starcasino NL appeared first on European Gaming Industry News.
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