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Betsson Publishes its First Quarter 2024 Interim Report

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Betsson AB has published its interim report for the first quarter of 2024.

Highlights

  • Group revenue was EUR 248.2 (221.9) million, an increase of 12%. Organic increase of 25%.
  • Casino revenue increased by 19%. Sportsbook revenue decreased by 3% and the sportsbook margin was 6.6% (8.0%).
  • EBITDA was EUR 71.6 (54.3) million, an increase of 32%. The EBITDA margin was 28.8% (24.5%).
  • Operating income (EBIT) was EUR 57.9 (43.0) million, an increase of 35%. The EBIT margin was 23.3% (19.4%).
  • Net income was EUR 42.8 (36.6) million, corresponding to EUR 0.30 (0.28) per share.
  • Operating cash flow was EUR 50.0 (48.8) million.
  • Net debt was EUR -68.1 (-104.5) million.
  • Active customers increased by 15% to 1,281,267 (1,115,641).

CEO’s Comments

“Positive start to the year for Betsson – continued high customer activity and the highest ever operating income”

For Betsson, the first quarter of 2024 was characterised by a continued positive development with high customer activity, good growth and strengthened profitability, as well as new growth-oriented initiatives. Revenue was up 12 percent year over year, and operating income (EBIT) increased as much as 35 percent to a new record level, while the operating margin strengthened to 23.3 (19.4) percent.

After the new president in Argentina took office, a devaluation of the Argentine peso of more than 50 percent was carried out in December, which had a negative effect on reported revenue for the Group in the first quarter. Organically, revenue increased by 25 percent compared to the corresponding quarter of the previous year.

The high customer activity drove strong growth in gaming turnover for both casino and sports betting, with year-over-year increases of 14 and 25 percent, respectively. Casino revenue increased by 19 percent year over year. The sportsbook margin amounted to 6.6 (8.0) percent, which was lower than the average margin for the past two years and meant that the high activity and increased turnover in sports betting was not fully reflected in revenue for the quarter. The lower sportsbook margin particularly impacted revenue in Latin America.

Betsson’s ambition is to generate stable earnings growth in the long run. The strategy to achieve this is based on geographic diversification and growth investments within existing markets, new markets, B2B and M&A. Within existing markets, it can be mentioned that the Betsson brand was introduced on the Italian market in March, at the same time as a collaboration was started with the former superstar of Italian football, Francesco Totti. Italy remains an important market with great potential for Betsson. In addition, Betsson went live in Cordoba, Argentina during the quarter, which means that the Group now offers games under local gaming licenses in three Argentine provinces. In new markets, a new online casino offering was launched in Belgium through the acquired company betFIRST, based on the category A+ license. The license enables a complete online casino offering including slots, table games and live casino. B2B continues to be an important strategic area where previous years’ investments continue to bear fruit and continued to perform strongly during the quarter. In terms of M&A, a gaming operator licensed in the Netherlands that offers casino games via the websites www.goldruncasino.nl and www.goldruncasino.com, and a game studio that develops casino games, were acquired in February. The transaction is subject to an approval from the Dutch gambling authority before the integration work can begin.

Sustainability is an important part of Betsson’s strategy and for the second year in a row Betsson sponsored the Consumer Protection Zone at the ICE gaming fair in London. This part of the fair aims to increase knowledge about responsible gambling and all proceeds from this part go to organisations that work with responsible gambling.

After the positive start to the year, we now look forward to following the final rounds of the European football leagues and cups, before it is time for the best national football teams to measure their strengths in the UEFA Euro 2024 and Copa America in June and July. There is football fever out there and within the entire organisation a number of activities are already underway to ensure that Betsson will be able to deliver a powerful player offering for new and existing customers during these major championships. See you this summer!

The post Betsson Publishes its First Quarter 2024 Interim Report 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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Meridianbet Launches ‘Scan. Help.’ Humanitarian Initiative to Support Maternity Hospitals in Southeast Europe

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Meridianbet, a member of the Golden Matrix Group (NASDAQ: GMGI), in partnership with Meridianbet Foundation, Expanse Studios, and BC Crvena zvezda Meridianbet announces the launch of a significant humanitarian initiative, ‘Scan. Help.’, aimed at supporting maternity hospitals across Southeast Europe.

The rollout of this action to other market territories is expected in the remainder of 2024.

How It Works

For every scanned QR code and subsequent registration on the Meridian Foundation’s website, funds will be allocated towards equipping five maternity hospitals in Serbia. This innovative approach not only raises awareness but also actively involves the community in our CSR activities.

The initiative is currently ongoing with high media presence and is broadcasted during Southeast Europe’s regional basketball Finals series (ABA League). BC Red Star players wear jerseys featuring the QR code, with additional promotion through basketball arena ads, TV ads, and more, encouraging fans and supporters to participate.

A Unified Effort for Community Impact

The ‘Scan. Help.’ campaign is a collaborative effort involving Meridianbet, Meridianbet foundation, Expanse Studios, and basketball club Crvena zvezda Meridianbet, Southeast Europe’s leading basketball club, of which Meridianbet is the name sponsor. The initiative is designed to leverage our collective resources and influence to make a meaningful impact on local communities.

Multi-Stakeholder Support and Growing Participation

The ‘Scan. Help.’ campaign has received institutional support ad backing from the Ministry of Health, reinforcing the importance and legitimacy of this cause. Additionally, several companies have already expressed their desire to contribute, with provisions made for donations through the Meridian Foundation’s account. This broadening support network amplifies the initiative’s reach and potential impact.

This campaign exemplifies Meridianbet’s dedication to sustainable development and community well-being. In 2023 alone, the company has launched 225 CSR campaigns, reflecting the commitment to making a lasting impact.

The post Meridianbet Launches ‘Scan. Help.’ Humanitarian Initiative to Support Maternity Hospitals in Southeast Europe appeared first on European Gaming Industry News.

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SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’

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The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region

With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.

In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.

This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.

“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”

Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.

Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.

 

The post SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’ appeared first on European Gaming Industry News.

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PopOk Gaming Unveils Exciting New Instant Game: “Dice”

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PopOK Gaming, a leading innovator in the gaming industry, is thrilled to announce the launch of its latest Instant game sensation: “Dice”.

“Dice” is a dynamic game that puts players’ instincts and strategies to the test. Participants can jump in at any moment and predict whether the resulting number will be higher or lower than their selected number. With every roll, the excitement mounts as players watch the green fields light up, indicating their path to victory.

It’s not just about luck – it’s about strategy too. Players have the opportunity to adjust their multiplier, choose their odds, and press start for a thrilling gaming experience.

Here’s how it goes down:

📈 Move the dice higher or lower on the screen.
🚀 Choose over or under.
⏳ Place your bet and hold on tight.
🎲 Launch the dice!
🏆 Win big, with potential rewards of up to x9600!

With its user-friendly interface and exciting gameplay, “Dice” promises to captivate players of all skill levels. Whether you’re a seasoned gamer or new to the world of Instant games, “Dice” offers endless opportunities for fun and excitement.

Join the action today and roll the dice for your chance to win big! Visit PopOK Gaming to start playing now.

 

The post PopOk Gaming Unveils Exciting New Instant Game: “Dice” appeared first on European Gaming Industry News.

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