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BETSSON AB (PUBL) INTERIM REPORT JANUARY – JUNE 2024

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QUARTER APRIL – JUNE 2024

  • Group revenue was EUR 271.5 (236.8) million, an increase of 15%. Organic increase of 38%.
  • Casino revenue increased by 16%. Sportsbook revenue increased by 13% and the sportsbook margin was 8.6% (8.2%).
  • EBITDA was EUR 77.6 (67.6) million, an increase of 15%. The EBITDA margin was 28.6% (28.5%).
  • Operating income (EBIT) was EUR 64.1 (54.5) million, an increase of 18%. The EBIT margin was 23.6% (23.0%).
  • Net income was EUR 44.4 (46.9) million, corresponding to EUR 0.33 (0.37) per share.
  • Operating cash flow was EUR 75.8 (89.2) million.
  • Net debt was EUR -93.1 (-138.8) million.
  • Active customers increased by 25% to 1.4 (1.1) million.

THE PERIOD JANUARY – JUNE 2024

  • Group revenue was EUR 519.7 (458.7) million, an increase of 13%. Organic increase of 32%.
  • EBITDA was EUR 149.2 (121.9) million, an increase of 22%. The EBITDA margin was 28.7% (26.6%).
  • Operating income (EBIT) was EUR 122.0 (97.5) million, an increase of 25%. The EBIT margin was 23.5% (21.3%).
  • Net income was EUR 87.2 (83.5) million, corresponding to EUR 0.63 (0.64) per share.
  • Operating cash flow was EUR 125.8 (137.9) million.
  • The AGM approved dividend to shareholders of EUR 88.5 (59.7) million, corresponding to EUR 0.645 (0.436) per share. The first of two installments was distributed to the shareholders in June.

CEO COMMENT

The best quarter ever for Betsson — new record figures

The second quarter of 2024 meant continued high growth and strengthened profitability with new records in both revenue and operating income for Betsson. Revenue increased by 15 percent and operating income increased by 18 percent, while the operating margin strengthened to 23.6 (23.0) percent. This was our tenth consecutive quarter with increasing operating income. Organic revenue growth was 38 percent, primarily driven by the B2C operations.

The high customer activity continued throughout the quarter – as expected, the UEFA EURO and Copa America contributed positively in June – resulting in strong key figures across the board. The number of active customers increased by 25 percent and deposits increased by 15 percent. The growth in gross gaming turnover was 7 percent for casino and 17 percent for sports betting compared to the corresponding quarter of the previous year.

I am particularly delighted to note the improved operating margin in the quarter and the highest ever operating income, given the increased proportion of revenue that was subject to local gaming taxes. The share of revenue from locally regulated markets amounted to 55 (36) percent and includes Peru for the first time, where local gaming tax was accrued during the entire second quarter. For several years, Betsson has established itself as the most well-known brand for sports betting in Peru. In June, the Group received its first local licenses for the newly regulated market in the country, for the Betsson and Betsafe brands, and in July licenses for the Inkabet brand have also been obtained.

I am proud to state that Betsson’s involvement in sports continues with full force. By far the most popular sport for betting at Betsson is football and in July a partnership agreement was announced with Serie A champions and last year’s Champions League finalists Inter, which means that for the next four years the Betsson.sport brand will feature on the front of the team’s jerseys. Inter is not only one of the world’s most successful football clubs ever, but also a global brand with hundreds of millions of fans. The club has particularly strong ties to Latin America, which is a focus region for Betsson, with current Argentine star player Lautaro Martinez and former club icons such as Zanetti, Cambiasso, Julio Cesar, Samuel, Cordoba, Milito and Ronaldo, just to name a few.

At the end of June, Betsson was awarded an AAA rating by Morgan Stanley Capital International (MSCI) ESG Ratings, an upgrade from the previous AA level. The AAA rating is the highest possible and confirms our dedicated efforts in environmental, social, and governance (ESG) matters, which we see as a prerequisite for running a profitable business long-term.

I am pleased with what we have delivered so far this year and see good growth opportunities in the second half of the year as well. We continue to invest in geographic expansion and the product offering to enable continued profitable growth and value creation for a long time to come.

The post BETSSON AB (PUBL) INTERIM REPORT JANUARY – JUNE 2024 appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Expanse Studios (GMGI) Obtains Croatian iGaming Certification

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Expanse Studios, the B2B game development division of Golden Matrix Group Inc. (NASDAQ: GMGI), has received official certification from Croatia’s Ministry of Finance for its flagship game Super Heli, with additional titles in the company’s 56-game portfolio expected to receive approval in the coming weeks for the EU member state.

The certification marks a strategic entry into a market that generated US$484.70m in 2024, with projected growth at a CAGR of 8.4% during 2024-2030. Super Heli, Expanse’s most popular crash-style game, becomes the first of the studio’s titles approved for the Croatian market, paving the way for broader portfolio distribution.

Tapping Into High-Growth European Market

Croatia represents a compelling opportunity for B2B gaming suppliers, with the Online Casinos segment alone projected at US$218.10m in 2024. According to iGamingToday’s latest market research, Croatia’s gambling market will reach €720.42 million by 2025, making it one of Europe’s fastest-growing regulated markets.

Among the key market benefits are:

  • Accelerating digital adoption – Internet penetration jumped from 76% in 2020 to 83% in 2023
  • Over 20.6 million tourist arrivals in 2023 following Schengen Zone entry
  • Over 500,000 Croatians expected to engage in regular online gambling by 2027

Strategic Value for the Company

The certification strengthens Expanse Studios’ European footprint at a critical juncture. With 56 proprietary titles and 500+ B2B partners globally, Expanse is expected to capture a meaningful share in the growing EU market.

“Croatia certification is more than market access—it’s validation of our content quality and compliance capabilities in demanding EU jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “With our flagship title Super Heli already approved and more games in the pipeline, we’re very excited for the opportunities this markets brings us”

Competitive Advantage in Regulated Markets

Croatia’s regulatory framework favors established, compliant B2B providers. Operators must obtain licenses requiring significant capital investment, and only licensed casino games operators who have at least one brick-and-mortar casino can offer online gambling. This creates high barriers to entry and positions certified B2B suppliers like Expanse as essential partners for operators.

The post Expanse Studios (GMGI) Obtains Croatian iGaming Certification appeared first on European Gaming Industry News.

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Kristina Jakovleva Represents Slotsjudge at iGB London 2025

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The iGB London 2025 event is set to push the boundaries of the online gambling market, and Kristina Jakovleva, Business Development Manager at SEOBROTHERS, will represent Slotsjudge. The event is expected to gather over 15,000 attendees and more than 300 sponsors, and Kristina plans to cover technological trends, discuss affiliate marketing strategies, and foster industry-specific networking.

Event Overview: About iGB London 2025

As one of the iGaming industry’s key global events, iGB London brings together thousands of professionals to drive innovation and growth. Following the success of previous editions, with over 6,500+ affiliates and 150+ programs on offer, the upcoming event promises even greater opportunities for business and collaboration.

Over 15,000+ industry specialists are to join the event this time. This year, participants will discuss technological trends, regulatory updates, affiliate marketing, and branding strategies. Participants can gain actionable insights and learn from successful case studies, making the event both exciting and informative.

About Kristina Jakovleva: Expertise & Plans

Starting her career in education at Liverpool John Moores University, Kristina has been in the iGaming market for years, working as a customer support specialist, affiliate manager, and ultimately as a Business Development Manager at SEOBROTHERS.

Years of experience and a focus on growth enabled Kristina to understand which approach best suited the company quickly, and she successfully implemented strategic partnerships and business growth initiatives to benefit from industry-specific networking.

Expectations & Final Thoughts

Attendees can enjoy iGB London 2025 on 2–3 July 2025 at ExCeL London, and an exclusive AI Concierge service will be available to cover basic questions about the event. Nick Hill, Executive Director at Premier Hill, says that ‘it represents the entire industry, and it is a must-attend show.’

It’s an excellent opportunity for the Slotsjudge team to gain performance-driven insights and plan future growth over the next 12 to 24 months, while other participants can learn from Kristina Jakovleva’s work, reinforcing Slotsjudge’s ongoing commitment to innovation and the overall growth of the iGaming industry.

The post Kristina Jakovleva Represents Slotsjudge at iGB London 2025 appeared first on European Gaming Industry News.

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Solitics launches In-Game Pulse for personalised in-play betting offers

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Solitics has launched In-Game Pulse, a powerful tool that allows operators to turn real-time sports moments into high-impact engagement with bettors.

With In-Game Pulse, operators can respond to goals, plays and key events with personalised in-play betting offers, delivered to players when their attention peaks, not after.

It’s powered by Solitic’s new Follow Engine, which tracks what each bettor is interested in and then automatically delivers tailored campaigns based on those interests.

This means marketers build just one journey, rather than separate ones for each possibility.

In-Game Pulse works by connecting an operator’s user data with a live sports feed, then the Follow Engine adapts a single flow to match each user’s interests in real time.

Marketers can then trigger journeys based on the most important moments in a game – a goal, red card – as and when they happen, meaning they are no longer limited to just user behaviour.

The best part is that each campaign is tailored to the individual bettor, and based on the teams, athletes and events they care about.

This makes In-Game Pulse the perfect solution for personalised in-play betting engagement.

This is an example of how it works.

A team scores a goal. 

All users with that team in their favourites list get notified instantly. 

The messaging is kept really simple:

“Big Moment! Your team just scored. Want to double down on the momentum?”. 

The great thing about In-Game Pulse is that it’s not a workaround or a third-party add-on; instead, it sits within Solitics’ engagement flows.

This means operators and their marketing teams can deliver hyper-personalised campaigns at peak interest, with the speed and control that Solitics has built its reputation on.

Guy Shemer, VP Product at Solitics, said: “In-Game Pulse will change the game for how marketers engage players with in-play betting communications and offers. 

“In the past, they have had to map out multiple journeys, and this has created a tremendous amount of work, let alone the challenge of pushing communications at the right time. 

“In-Game Pulse does all the heavy lifting here, allowing marketers to engage players in the moment and when their attention peaks, not after. 

“In short, it allows operators to go beyond their own data and react instantly to live sports moments – moments that can drive betting activity.” 

The post Solitics launches In-Game Pulse for personalised in-play betting offers appeared first on European Gaming Industry News.

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