world cup Archives - CasinoBeats https://casinobeats.com/tag/world-cup/ The pulse of the global gaming industry Wed, 08 Feb 2023 12:20:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://casinobeats.com/wp-content/uploads/2025/01/cropped-favicon-32x32.png world cup Archives - CasinoBeats https://casinobeats.com/tag/world-cup/ 32 32 Svenska Spel points to ‘expected’ World Cup interest for Q4 decline https://casinobeats.com/2023/02/08/svenska-spel-points-wc-for-decline/ Wed, 08 Feb 2023 14:20:00 +0000 https://casinobeats.com/?p=78673 Svenska Spel pointed to the FIFA World Cup, and Sweden’s omission from the tournament, as a contributing factor to its net gaming revenue decrease in Q4 2022.  However, the company did note optimism for the period that lies ahead after labelling the year’s fourth quarter of one that was characterised by continued investments in new gaming […]

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Svenska Spel pointed to the FIFA World Cup, and Sweden’s omission from the tournament, as a contributing factor to its net gaming revenue decrease in Q4 2022. 

However, the company did note optimism for the period that lies ahead after labelling the year’s fourth quarter of one that was characterised by continued investments in new gaming experiences and a maintained focus on sustainable gaming.

Publishing its end of year report, the Swedish state-owned gambling firm revealed that its net gaming revenue for sport and casino decreased by eight per cent in the fourth quarter when compared to the same period a year prior. 

Pinpointing the reasons behind the decline, the company noted that its “expected” lower customer interest in the FIFA World Cup than previous championships, citing the timing of the event and that the Swedish national team did not qualify.

Furthermore, the firm highlighted that, with the World Cup taking place over the winter period, it resulted in an array of breaks in regular nation football leagues. This, Svenska Spel stated, limited the possibility of offering games such as Stryktipset, Europatipset and Toptipset.

Moving over to its Casino Cosmopol & Vegas vertical, net gaming revenue also witnessed a decline, this time by 10 per cent, with strengthened gambling responsibility measures said to have negatively affected revenues. 

Overall, net gaming revenue for Svenska Spel amounted to SEK 2.2m, a two per cent (SEK 49m) decrease from the previous year. In addition, operating profits from the group in Q4 totalled SEK 580m, a three per cent drop from Q4, 2021. 

One area of increase came in the company’s online sector, which rose by one per cent compared to the same quarter last year, and accounts for 48 per cent of Svenska Spel’s revenue during Q4, 2022. 

In the year-on-year figures, net gaming revenue was SEK 8.03m, a decrease of SEK 108, or one per cent. Operating profit for the group amounted to SEK 2.38m, a decrease of SEK 81m.

However, despite these small decreases, Svenska Spel’s board revealed that it intends to propose a dividend to the owner of SEK 2bn, a move its President and CEO, Patrik Hofbauer, is “happy” about. 

He stated: “I am happy that the board intends to propose a dividend of SEK 2bn to the owner. That our surplus goes back to the Swedish people is one of the reasons why we are all of Sweden’s gaming company. 

During the 25 years that Svenska Spel has existed, together with our customers, we have contributed over SEK 100bn to the state treasury.”

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World Cup and Maryland success leads to Better Collective financial upgrade https://casinobeats.com/2023/02/06/better-collective-upgrades-targets/ Mon, 06 Feb 2023 10:10:00 +0000 https://casinobeats.com/?p=78558 Better Collective has upgraded its 2022 financial targets following a “record breaking” fourth quarter driven by the FIFA World Cup and the launch of sports betting in Maryland.  Publishing its Q4 financial report, Better Collective has upgraded its 2022 organic revenue growth, which was 20-30 per cent, to 34 per cent after it reported a […]

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Better Collective has upgraded its 2022 financial targets following a “record breaking” fourth quarter driven by the FIFA World Cup and the launch of sports betting in Maryland. 

Publishing its Q4 financial report, Better Collective has upgraded its 2022 organic revenue growth, which was 20-30 per cent, to 34 per cent after it reported a revenue of €86.1m. This represented a 63 per cent year-on-year growth, of which 44 per cent was organic. 

The company’s fourth quarter EBITDA, before special items, stood at €35.2m, a growth rate of 115 per cent and a margin of 41 per cent. 

Furthermore, the firm revealed that its US-based revenue witnessed a 71 per cent YoY, totalling €33.9m and for the full year US revenues grew 102 per cent, which ends full year revenue at $100.3m.

Better Collective also noted that its US growth came on top of a “very strong” revenue growth of 370 per cent from 2020 to 2021.

The firm linked its Q4 figures to a “strong and broadly based” performance combined with an “extraordinarily well performing” World Cup, which took place in Qatar from November 20 to December 18, 2022, and a “solid launch” of regulated sports betting in the US state of Maryland. 

Upon releasing the original 2022 financial targets, it was assumed that the US would only consist of upfront payments. However, during Q4 Better Collective experienced a full year impact of €14.7m, up from over €10m as guided in Q3. 

Moving forward, the group stated it remains “excited” about the shift from one-time payments to recurring revenues, expressing that it implies “future growth, less seasonality and letter long term sportsbook partnerships”. 

In connection with the 2021 acquisition of Action Network in the US, Better Collective indicated a revenue estimate of “exceeding $100m” in 2022.

Better Collective also noted that its US growth came on top of a “very strong” revenue growth of 370 per cent from 2020 to 2021.

The company will announce its audited Q4 numbers on February 21 after market close.

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BGC reveals decrease in betting adverts during World Cup https://casinobeats.com/2022/12/30/bgc-adverts-decrease-world-cup/ Fri, 30 Dec 2022 12:00:00 +0000 https://casinobeats.com/?p=77106 New figures from the Betting and Gaming Council have revealed that betting adverts on ITV during the 2022 World Cup group stages fell by 34 per cent when compared to the World Cup in 2018. According to a recent study, when excluding National Lottery adverts, a total of 110 betting commercials appeared on ITV during […]

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New figures from the Betting and Gaming Council have revealed that betting adverts on ITV during the 2022 World Cup group stages fell by 34 per cent when compared to the World Cup in 2018.

According to a recent study, when excluding National Lottery adverts, a total of 110 betting commercials appeared on ITV during the preliminary rounds of the football competition. 

These figures prove that the number of betting adverts shown during World Cup group matches has fallen by over a third since the last tournament, which saw around 167 adverts shown. 

Michael Dugher, Chief Executive of the Betting and Gaming Council, stated: “At the start of the World Cup, the usual suspects said we would see a ‘perfect storm’ of problem gambling, sparked by waves of betting adverts. This data proves that these warnings were yet again wrong.

“The evidence shows that calls from prohibitionists to ban betting ads and sports sponsorship are not backed up by the evidence, with the government themselves acknowledging independent research ‘did not establish a causal link between exposure to advertising and the development of problem gambling’.

According to this data, 4.5 ads were shown per live match during the group stages at this year’s World Cup, compared to 8.35 in the 2018 tournament.

The BGC has suggested that this decrease is a direct result of the whistle-to-whistle ban introduced by the Council’s members back in 2019, in which betting ads cannot be shown between five minutes before and after a live match.

In 2021, a report found that this ban had led to a 97 per cent reduction in the number of betting adverts being seen by children. 

Dugher continued: “Nevertheless, the reduction in betting ads is further proof of the continued commitment by BGC members to raising standards – while also promoting safer gambling tools like setting deposit limits and time-outs, and signposting help to those who need it. 

“All of this is in marked contrast to the unsafe, unregulated black market online that pays no tax and makes no contribution to the economy or many of our much loved sports”.

A report conducted for the BGC alleged that compulsory affordability checks may pose a threat to the regulated betting and gaming industry.

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Chicago casinos, C2 Ayia Napa and social responsibility: The week in numbers https://casinobeats.com/2019/07/22/chicago-casinos-c2-ayia-napa-and-social-responsibility-the-week-in-numbers/ Mon, 22 Jul 2019 07:42:50 +0000 http://casinobeats.com/?p=19030 Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. In this latest edition we take a look at further Cypriot developments, updates in the Chicago land-based scene and online growth offsetting retail decreases for GVC Holdings. 1 Genting Casinos has become the first gambling company to achieve the Safer Gambling Standard, the social […]

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Each week, CasinoBeats breaks down the numbers behind some of the industry’s most interesting stories. In this latest edition we take a look at further Cypriot developments, updates in the Chicago land-based scene and online growth offsetting retail decreases for GVC Holdings.

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Genting Casinos has become the first gambling company to achieve the Safer Gambling Standard, the social responsibility accreditation for the industry developed by national charity GamCare.

Lauded as the “highest level of award,” the standard intends to recognise operators that go above and beyond the requirements of the gambling industry licensing codes and conditions of practice.

Comprising ten sets of assessment criteria for social responsibility of both online and land-based gambling businesses, the standard is awarded at an entry level and at three advanced levels, designed to give operators a clear roadmap for improvement.

Furthermore, it also reviews organisational policies and procedures, digital and in-person interactions with customers, protections for young and vulnerable people, training and development and the culture of the business regarding its approach to social responsibility.

The Melco Group has debuted the third of four satellite casinos on the Mediterranean island of Cyprus, as C2 Ayia Napa officially opened to the public.

Becoming the third such property in stable of Cyprus Casinos, the first and only licensed operator in the republic, it follows similar such openings in Nicosia and Larnaca in December last year.

This comes as Melco continues development of the €550m City of Dreams Mediterranean, scheduled to be open in 2021, located in Limassol, where a temporary property has been in operation for over a year.

C2 Ayia Napa, which like its sister properties is permitted due to an exclusive agreement with the country’s government, is situated in the heart of the resort town, with its gaming area featuring 50 slot machines, operated in accordance with Cypriot legislation and Melco’s responsible gaming program.

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Online growth for GVC Holdings has seen the firm report a Q2 three per cent revenue jump, despite double digit declines in its UK retail operation following the recently-introduced £2 limit on fixed-odds betting terminals.

Issuing its latest trading update, the firm saw a sharp 19 per cent second quarter drop take its performance for the first half of the year in the UK retail market to a ten per cent negative.

However strong online growth has been reported, as GVC continues to adapt to the new UK environment, with its gaming and sports segment boosting online NGR to increases of 16 per cent and 17 per cent in Q2 and H1, despite the latter competing against a tough period that included the Fifa World Cup.

Stressing that the organisation was able to secure material market share gains across all major territories, double-digit growth in all major regions included the UK (+19 per cent), Germany (+24 per cent), Australia (+38 per cent), Italy (+19 per cent) and Brazil (+38 per cent).

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Chicago’s southern suburb of Crestwood is jockeying into position ahead of a raft of new casino developments that are set to emanate across the state of Illinois.

Following Governor JB Pritzker rubber stamping a $45bn Rebuild Illinois action plan at the start of the month, the village is seeking proposals from investors and casino operators for potential construction on a forty acre site.

As part of Pritzker’s multi-faceted statewide ambitions is a significant gaming expansion, with headlines concerning casino proposals in bill SB 690 centred around Chicago, with the Windy City to see construction of its first land-based establishment.

However further properties in Waukegan, Rockford, Williamson County, Danville and the South Suburbs have also been authorised, as well as the introduction of slots at the Midway and O’Hare Airports.

The request for proposals issued by Crestwood identifies the property chosen for development, alongside a promise that it will be construction ready by the close of the year.

With issuance of the RFP, the village has made clear its intention of petitioning for the Chicago south suburban casino license recently approved by Illinois lawmakers, and will use the selected response to petition for a gaming license from the Illinois gaming board.

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Difficult Nordics and Western Europe for Betsson in Q2 https://casinobeats.com/2019/07/19/difficult-nordics-and-western-europe-for-betsson-in-q2/ Fri, 19 Jul 2019 08:46:17 +0000 http://casinobeats.com/?p=18985 A difficult performance in the Nordics and Western Europe has seen Betsson report a five per cent dip in revenue for the year’s second quarter, with its sportsbook segment increasing despite a challenging contrasting period due to the football World Cup. Coming in at SEK 1.27bn (2018: SEK 1.36bn), the group states that “the geographical […]

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A difficult performance in the Nordics and Western Europe has seen Betsson report a five per cent dip in revenue for the year’s second quarter, with its sportsbook segment increasing despite a challenging contrasting period due to the football World Cup.

Coming in at SEK 1.27bn (2018: SEK 1.36bn), the group states that “the geographical spread, together with the product mix, explain the good revenue level despite the challenging Swedish market and the decline in the Netherlands”.

Revenue generated from the Nordics and Western Europe declined 17 per cent and 12 per cent respectively to SEK 519.3m (2018: SEK 621.9m) and SEK 392.2m (SEK 443.5m), with Central and Eastern Europe and Central Asia boosted 33 per cent as it reached SEK 284.2m from SEK 214.4m.

Betsson’s casino segment, which contributed 72 per cent of overall group revenue compared to last year’s 76 per cent, amounted to SEK 917.8m (2018: SEK 1.01bn), representing a decrease of ten percent, with mobile revenue up three per cent from SEK 612.4m to SEK 631.1m.

The firm’s sportsbook performance, which came it at SEK 300.2m in 2018 and was boosted by the World Cup, jumped 14 per cent this year to SEK 341m.

Providing a brief insight into its performance during the first half of the year, the online betting and gaming group reports a slight revenue increase of two per cent to SEK 2.6bn with operating income decreasing 12 per cent to SEK 452.1m.

The gaming industry is facing changes and the second quarter posed challenges”

Pontus Lindwall, president and CEO of Betsson, said of the market challenges posed: “The gaming industry is facing changes and the second quarter posed challenges in several of Betsson’s important markets.

“In Sweden, the SGA revoked one license while other operators have received warnings and fines, including one of Betsson’s operational subsidiaries. Betsson has appealed the fine based on the opinion that the company was operating within the given guidelines.

“As we reported for the first quarter, the operational subsidiaries have made adjustments to the Dutch customer offering to be in a position to obtain a license as soon as possible. Following a negative impact on revenues in direct connection with these adjustments, revenues have stabilised and we are convinced that Betsson is properly positioned for long-term development and growth in the Netherlands

“Current information does not allow a definite and precise assessment of the timeline of the licensing process, but we welcome the Ksa’s clear ambition to meet a high degree of channelisation. Another market that faced challenges during the second quarter is Norway, where payment blockings make it difficult for operators to offer the customers efficient payment solutions.

“At the same time other markets, locally regulated as well as non-regulated in which we operate, have developed strongly, which proves Betsson’s ability to compete successfully when market conditions stabilise.

“I am confident in my view of Betsson’s capacity and in our strategic opportunities to pursue long-term profitable business with growth and good margins in regulated markets. We also have a geographical spread that compensates for temporary downturns in individual markets.

“During 2018, we took several measures to absorb higher gaming taxes amongst other things and we could quickly show the results of these measures. We have a strong, competent and efficient organisation as well as an efficient cost structure.

“Our proprietary technology enables rapid market adaptations and cost-effective growth. Naturally, the results are affected when several changes in significant markets take place simultaneously, but this does not affect our belief that Betsson is strongly positioned in the industry.

“We have a good financial position and we continuously evaluate additional markets to grow in the future. Betsson’s good cost control and proprietary technology provide good opportunities to meeting market changes and offering competitive product solutions.”

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Rafi Ashkenazi lauds 2018 as “landmark year” for Stars Group https://casinobeats.com/2019/03/06/rafi-ashkenazi-lauds-2018-as-landmark-year-for-stars-group/ Wed, 06 Mar 2019 13:02:28 +0000 http://casinobeats.com/?p=14364 The Stars Group has set its sights on a prosperous 2019, after seeing revenue increases, primarily due to the contribution of its Sky Betting and Gaming and BetEasy acquisitions, in addition to an expanding US footprint. Agreements entered alongside Mount Airy Casino and Eldorado Resorts, alongside its existing market access deal in New Jersey with […]

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The Stars Group has set its sights on a prosperous 2019, after seeing revenue increases, primarily due to the contribution of its Sky Betting and Gaming and BetEasy acquisitions, in addition to an expanding US footprint.

Agreements entered alongside Mount Airy Casino and Eldorado Resorts, alongside its existing market access deal in New Jersey with Resorts Casino Hotel, gives the group current potential access to a total of 13 states.

Setting out its 2019 full year financial guidance, Stars Group expects revenues of between $2.64bn and $2.76bn, and adjusted EBITDA in the region of $960m and $1.1bn.

Rafi Ashkenazi, The Stars Group CEO, explained: “As we look at 2019 and beyond, we are excited to take advantage of the opportunities ahead of us by leveraging our leading positions in attractive markets, strong brands, technology and operating expertise.

“We are pleased with our performance in the first two months of the year, underpinning our confidence in our financial guidance for 2019, and we are currently on track to deliver the full $70m in cost synergies from the acquisition of Sky Betting and Gaming within the current year alone, with potential opportunities for incremental synergies under review.”

Full year 2018 net revenues for the firm came in at a little over $2bn, a 54.6 per cent boost from $1.3bn, and adjusted EBITDA increase 30.1 per cent to $780.9m (2017: $600m).

On a quarterly basis revenues were reported as $652.8m, up 81.2 per cent from $360.6m, with an adjusted EBITDA of $239.4m, up 62.9 per cent from $147m.

Breaking down in to the group’s three reporting segments of international (incorporating BetStars assets), UK (Sky Bet) and Australia (BetEasy), Stars Group reported a Q4 revenue dip of 1.3 per cent to $355.7m (2017: $360.2m) for the former, with FY figures rising 9.7 per cent to $1.44bn (2017: $1.31bn).

Reporting increases across each of its key segments of poker, gaming and betting, the only decline came from the former in 2018’s final quarter, dipping ten per cent to $210.9m from $234.3m.

UK revenues came in at $225.7m and $394.1m respectively for the quarter and year ending December 31, 2019, driven by maintained momentum from a successful World Cup and start of the Premier League, whilst Australian operations contributed $72.3m and $196.9m respectively.

Ashkenazi commented: “2018 was a landmark year for the company We completed the acquisitions of Sky Betting and Gaming in the UK and BetEasy in Australia, extended our licensed footprint to 21 jurisdictions around the world and began laying the foundations to grow our presence in the US

“Our International business saw strong organic growth in the year despite restrictions in certain markets and lapping the initial roll-out of our Stars Rewards program.

“Our United Kingdom and Australia segments both performed in-line with our expectations during the fourth quarter, and we believe they are currently well-positioned to continue gaining market share in 2019.”

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GVC begins 2019 with a bang as it details US and Brexit plans https://casinobeats.com/2019/03/05/gvc-holdings-has-labelled-2018-a-transformational-year-as-the-firm-lauds-its-ladbrokes-coral-acquisition-and-us-joint-venture/ Tue, 05 Mar 2019 09:35:07 +0000 http://casinobeats.com/?p=14247 GVC Holdings has labelled 2018 a “transformational year,” as the firm lauds its Ladbrokes Coral acquisition and US joint venture Roar Digital, entered into alongside MGM Resorts International. Stressing its former acquisition enabled the firm to become “the world’s largest online-led sports-betting and gaming operator,” GVC also emphasised a belief that “the journey to the […]

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GVC Holdings has labelled 2018 a “transformational year,” as the firm lauds its Ladbrokes Coral acquisition and US joint venture Roar Digital, entered into alongside MGM Resorts International.

Stressing its former acquisition enabled the firm to become “the world’s largest online-led sports-betting and gaming operator,” GVC also emphasised a belief that “the journey to the majority of US states being regulated will take between three and five years,” with an immediate focus set on “ensuring the structure for a successful business is implemented”.

The organisation also revealed a snapshot of its post-Brexit plans, which involve relocating servers for its online gambling platform to the Republic of Ireland, as well as operating parts of the business which have customers in the EU under Malta online gambling licenses.

Providing a brief outlook on the year-to-date in the 2018 full-year results, GVC reports that it has got off to a flying start with group net gaming revenue up 11 per cent for the period January 1, 2019, to February 24, 2019.

Online NGR was 22 per cent ahead and European retail nine per cent in front, while its UK counterpart was two per cent behind, lauded as “an excellent start to the year,” expectation was stressed that EBITDA and operating profit would be delivered in line with expectations.

In its set of full year results, heavily impacted by its previously detailed acquisition, reported group NGR increased 203 per cent to £2.9bn (2017: £815.9), on a proforma basis this stood at £3.5bn, a nine per cent boost from £3.2bn.

Reported underlying EBITDA for the year stood at £640.8m, up 203 per cent from £211.3m, whilst on a proforma basis this came in at £755.3m, rising 13 per cent.

Reporting “very strong growth in online with market share gains in all key territories,” NGR rose 19 per cent “with growth across all our main brands”.

This was driven by a 16 per cent boost across GVC gaming brands, and a 40 per cent NGR growth of partypoker, with gala brand up 11 per cent and casino brands increasing 14 per cent.

In its financial reports, the group stated: “partypoker continues to benefit from the investment in live-events, pooled liquidity in France and Spain and ongoing user-experience enhancements.

“Improved customer journeys and bonus optimisation, combined with the high profile sponsorship of “The Chase” underpinned the strong growth in the Gala brands, while targeted new gaming content and more personalised customer experiences were key in delivering growth in the GVC casino brands.

“The Foxy bingo brand migrated to the proprietary bingo platform in November, and post-migration performance has been positive. “

GVC, which operates 19 brands across multiple territories worldwide, also anticipates closures of “up to a thousand shops,” in anticipation of the looming gaming machines stakes and prizes maximum stake reduction to £2.

An investment in to “new machines, new SSBTs and EPOS2, combined with the competitive advantage of our unique multi-channel offer, means the UK retail business is in very good shape as it faces into the post triennial world”.

Kenneth Alexander, GVC CEO, said of the year-long performance: “The group’s full year results reflect a very strong performance, with proforma net gaming revenue 9 per cent ahead of last year and proforma underlying EBITDA 13 per cent ahead.

“2018 was a transformational year for the group, with the completion of the Ladbrokes Coral acquisition in March making the group the largest online-led sports-betting and gaming operator in the world.

“Excellent operational execution, effective marketing and a good World Cup helped both the legacy GVC and the acquired Ladbrokes Coral businesses perform ahead of expectations and materially ahead of the market, delivering market share gains in all our major territories.

“The GVC operating model leverages the group’s leading proprietary technology and product development capability, applying central marketing expertise alongside local operational execution.

“This model is proving highly effective. Combined with the benefit of being a truly global scale operator, together with the opportunities provided by the integration of Ladbrokes Coral and our joint-venture in the US with MGM Resorts, the board is confident the group is well-placed to absorb the impact of the triennial review and associated tax increases in 2019, and deliver strong EBITDA growth in future years.”

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Swedish efforts to pay long-term dividends for Betsson https://casinobeats.com/2019/02/14/swedish-efforts-to-pay-long-term-dividends-for-betsson/ Thu, 14 Feb 2019 10:42:23 +0000 http://casinobeats.com/?p=13569 Online gambling group Betsson is targeting success within the newly re-regulated Swedish market, as it praises 2018 as “a turning point” via the delivery of all-time high revenue for the third successive quarter. Showing 14 per cent Q4 growth to SEK 1.4bn (2017: SEK 1.2 bn), nudging full year figures along to SEK 5.4bn, a […]

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Online gambling group Betsson is targeting success within the newly re-regulated Swedish market, as it praises 2018 as “a turning point” via the delivery of all-time high revenue for the third successive quarter.

Showing 14 per cent Q4 growth to SEK 1.4bn (2017: SEK 1.2 bn), nudging full year figures along to SEK 5.4bn, a 15 per cent increase from SEK 4.7bn, it was the Swedish market that dominated a large chunk of Betsson attention during the year.

Pontus Lindwall, president and CEO of Betsson, explained: “During 2018 we have been preparing heavily for the Swedish regulation that came into effect January 1, 2019. Preparations included to secure compliance as well as increased marketing activities.

“To stay on track and execute efficient operations are crucial to absorb increased costs from betting duties in more markets. The advantage for a large group as Betsson, with long industry experience, several brands and geographical spread that make the operations scaleable, is the financial strength.

“Now I hope to see a channelisation of around 95 per cent as I am convinced that this will benefit customers, long-term operators and Betsson’s shareholders. Technical requirements had to be delivered within a short time-frame, and this was the initial challenge for January 1, 2019.

“Long-term we expect the market to grow in a sustainable manner”

“New big players entering into the Swedish online casino market has changed market conditions, and we expected to see an impact in this segment. These factors, together with high bonus costs, made a challenging start of the year in Sweden, however customer activity is in line with our expectations.

“Long-term we expect the market to grow in a sustainable manner, and overall we remain positive about industry growth in regulated markets”

Reporting year-on-year growth across all regions in its latest financial report, Betsson’s casino operations thrived in the quarter with a 24 per cent rise to a little over SEK 1bn (2017: SEK 867.3m), contributing 75 per cent of group revenue.

Mobile casino increased to SEK 683.5m, a 35 per cent boost on SEK 507m, with sportsbook revenue decreasing five per cent to SEK 341.4m (2017: SEK 359.3m), driven by a lower margin as compared to an industry high during the same period a year earlier.

The company also lauded all-time high operating income, with its Q4 figure increasing 56 per cent to SEK 341.5m (2017: SEK 218.4m) and SEK 1.1bn for the full year, a 35 per cent boost from SEK 882.2m.

Lindwall commented: ”Revenue for the fourth quarter 2018 increased 14 percent compared to the same quarter 2017. The organic growth was 12 percent and we saw growth across all regions. During the quarter casino revenue increased by 24 percent.

“Sportsbook turnover continued to grow after the world cup ended, by 6 percent during the quarter, while revenue was down 5 percent compared to the same quarter 2017. SB margin was 7.3 percent which is lower than the 8.2 percent margin for the same period last year.

“Total revenue for full year 2018 increased by 15 percent to SEK 5,419.8m. Operating income (EBIT) for the fourth quarter was SEK 341,5m (218,4m), which is equivalent to an EBIT margin of 23.8 percent, an increase of 56 percent compared to the same quarter 2017.

“For the full year 2018, EBIT reached SEK 1,193.7m, equivalent to an EBIT margin of 22 percent and an increase of 35 percent compared to the full year 2017.”

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Sweden and USA bring strong start to 2019 for Kindred https://casinobeats.com/2019/02/13/sweden-and-usa-bring-strong-start-to-2019-for-kindred/ Wed, 13 Feb 2019 09:36:32 +0000 http://casinobeats.com/?p=13488 Kindred Group has praised the possibilities of the newly re-regulated Swedish market, in addition to strong US foundations, as the organisation eyes a successful 2019 after getting off to a strong start. Releasing its latest financial report, in which revenues hit an all-time high £250.1m (2017: £238) in Q4 and £907.6m (2017: £751.4m) for the […]

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Kindred Group has praised the possibilities of the newly re-regulated Swedish market, in addition to strong US foundations, as the organisation eyes a successful 2019 after getting off to a strong start.

Releasing its latest financial report, in which revenues hit an all-time high £250.1m (2017: £238) in Q4 and £907.6m (2017: £751.4m) for the full year, a series of significant events sealed at the turn of the year has seen gross winnings for the period January 1 to February 10, 2019, come in at 17 per cent higher than for the full first quarter last year.

The online gambling group has sealed a duo of strategic partnerships in the US, with last year’s agreement made alongside Hard Rock Hotel & Casino Atlantic City added to with the Mohegan Sun Pocono in Pennsylvania, giving Kindred the ability to offer online gaming and online and offline sports betting in the Keystone State.

Striving to gain further new market entry with a licence application submitted in Spain in December, Kindred Group successfully went live under the new local license in Sweden with its Unibet, Maria Casino, iGame, Storspelare and bingo.com brands.

Henrik Tjärnström, CEO of Kindred Group, spoke about both the US and Sweden, the latter of which saw plans go back to last summer’s Russian World Cup: “On 1 January, we successfully went live under the new local license in Sweden with five of our brands, and we have also continued to lay the foundation for the USA early this year with the agreement in Pennsylvania.

“In the fourth quarter of 2018 we have seen strong levels of activity, together with an all-time high in active customers”

“Always planning ahead, the group prepared for the opening of the Swedish market and enlarged the customer base through bonus offers, and marketing investments already from the start of the World Cup last summer.

“During the first six weeks of 2019, we awarded our Swedish customers with one additional bonus under the terms of the new licensing system, which resulted in new depositing customers up by 166 per cent, and active customers up by 97 per cent over the last 90 days. As expected, we can now see the bonus expenditure tail off.”

Highlighting a tough quarterly comparison, due to “exceptional sportsbook margin in the fourth quarter of 2017,” EBITDA of £58.8m (£74.5m) pushed full year figures to £203.7m (2017: £185m).

With the number of active users for the quarter rising to 1,568,574  from 1,329,124, profits after tax came in at £39.3m (£50.8m) and £131.6m (2017: £117.4m) for Q4 and FY respectively.

Tjärnström explained: “In the fourth quarter of 2018 we have seen strong levels of activity, together with an all-time high in active customers. This has resulted in record gross winnings revenue, proving that our long-term strategy, to maintain a sustainable business by increasing the number of active customers rather than the ARPU, is paying off.

“Despite the exceptional sportsbook margin in the fourth quarter of 2017 making the comparatives for this quarter very tough, we have still managed to grow the business by 5 per cent.

“During the fourth quarter, gross winnings revenue from mobile grew by 11 per cent compared to the fourth quarter last year, and amounted to 74 per cent of our total gross winnings revenue. Of the group’s gross winnings revenue, 45 per cent came from locally regulated markets.

“For the full year 2018, betting duties increased by 40 per cent with an EBITDA margin of 22 per cent, which shows the group’s ability to absorb betting duties through its focus on scalability and cost control.”

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Svenska Spel extends Swedish Ice Hockey agreement https://casinobeats.com/2019/01/16/svenska-spel-extends-swedish-ice-hockey-agreement/ Wed, 16 Jan 2019 10:32:22 +0000 http://casinobeats.com/?p=12342 After enjoying “a long and successful history together” Svenska Spel and the Swedish Ice Hockey Association have extended their cooperation until 2025, with an option for a further two years. The Swedish gambling operator has enjoyed main sponsorship for in excess of 20 years, with the collaboration including the Hockey Academy, which is the country’s […]

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After enjoying “a long and successful history together” Svenska Spel and the Swedish Ice Hockey Association have extended their cooperation until 2025, with an option for a further two years.

The Swedish gambling operator has enjoyed main sponsorship for in excess of 20 years, with the collaboration including the Hockey Academy, which is the country’s development program up to the junior national teams.

Patrik Hofbauer, CEO of Svenska Spel, praised the agreement extension: “Svenska Spel and the Swedish Ice Hockey Association has a long and successful history together. Through the extension of the agreement, we can continue to create the right conditions for Swedish hockey to continue their fine development.”

Adding: “Ice hockey is one of our most popular sports, and every year our national teams stand for fantastic action. The collaboration enables us to participate in the development of Swedish ice hockey all the way, from the very smallest in Hockey School, to our popular national team on the women’s and men’s side.”

The new agreement comes into force in July of this year and, including option years, is worth in excess of SEK 200m, in addition to a championship bonus, which is the same for the men’s and women’s national sides, and amounts to a maximum of SEK 1.5m if both win World Cup gold.

Tommy Boustedt, secretary general of the Swedish Ice Hockey Association, explained: “We are very pleased that our long-term cooperation with Svenska Spel continues. The long-term sustainability of Svenska Spel’s commitment means a great deal, and gives us the opportunity to realise our vision of becoming the best at all levels, making ice hockey accessible to more and being Sweden’s most engaging sport.

“Svenska Spel also cares for the sport and conducts its business with a high degree of gaming responsibility, which is important for us at a new license market.”

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