Tag Archives: Quarterly results

Sportradar shares up 15% after raising full-year revenue guidance

Sportradar shares up 15% after raising full-year revenue guidance

Data provider Sportradar’s share price rocketed after it raised its full-year revenue guidance for 2022.

The announcement came as part of its second-quarter financial report, in which the provider also revealed that its revenue for the three months to 30 June was €177.2m, up 23.0% year-on-year.

In total, €29.1m of Sportradar’s revenue came from the US, up by 66.3% as the US market continued to expand. Rest-of-world betting services brought in €95.5m, up by 20.6% This, the business said, was mostly due to more focus on “higher-value-add” services such as managed betting services.

Rest-of-world audiovisual services to betting operators came to €39.7m, up by just short of 10% thanks mostly to new customers.

Other operations brought in a further €12.9m.

The business then paid €43.4m for purchased services and data licences, up 33.1%, plus €64.4m in personnel expenses, up 37.6%, €21.2m in other operating income, a slight increase, and €49.2m in depreciation and amortisation, up by 75.9..

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RSI still on track for long-term earnings goals despite higher Q2 losses

RSI still on track for long-term earnings goals despite higher Q2 losses

Rush Street Interactive (RSI) said it still expects to achieve its longer-term earnings targets despite posting an increased net loss and negative adjusted earnings before interest, tax, depreciation and amortisation (EBTIDA) during the second quarter and first half.

Speaking after the business published its results for the two operating periods, RSI’s chief executive Richard Schwartz said that the operator continues to move towards becoming profitable.

Schwartz said RSI experienced profit across six of its markets during the second quarter of its 2022 financial year, with the states of New Jersey, Pennsylvania, Illinois and Michigan, along with Colombia in South America, being profitable in the quarter. In addition, West Virginia also turned profitable after only four full quarters of operation in the state.

“We are continuing to build a global business,” Schwartz said “With the recent launches in Ontario in Canada and Mexico, we are now live in a total of four countries. This give..

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FuboTV gaming business under strategic review with negative revenue

FuboTV gaming business under strategic review with negative revenue

Streaming provider FuboTV will implement a strategic review of its betting arm, after determining that it could not operate the business alone in the current economic environment.

Fubo chief executive David Gandler said that the business was determined to ensure that its betting product – created when it acquired Vigtory – would be fully integrated with its streaming service. However, he said it could not achieve this by building its own technology.

As a result, it has initiated a strategic review of the wagering business.

“We continue to believe that an integrated wagering platform, offering both live video and a sportsbook, will result in the best viewing and gaming experience for consumers,” Gandler said. “However, as we have evaluated how best to scale these capabilities in today’s market, we have concluded that we will no longer pursue this opportunity on our own.

“Accordingly, our interactive wagering business is under strategic review. We are in internal and external discu..

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LatAm now Betsson’s largest market amid European decline in Q2

LatAm now Betsson’s largest market amid European decline in Q2

Betsson disclosed revenue of €186.3m (£158.9m/$189.5m) from its second quarter results, which saw Latin America become its largest market – while revenue in western Europe fell by almost 40%..

Pontus Lindwall, CEO at Betsson [pictured above] said the business saw progress in most areas throughout the quarter, and spoke highly of its sportsbook progress.

“Betsson’s second quarter featured continued good growth with all-time high revenue and further investments to support our expansion,” said Lindwall. “The group’s organic growth was 13%, mainly driven by Latin America, 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% and the margin was 8.3% (8.5%) – leading to all-time high revenue.”

Latin America is now Betsson’s largest market. In Q2, it accumulated revenue of €45.7m, up significantly by..

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STS revenue declines despite higher stakes in Q2

STS revenue declines despite higher stakes in Q2

STS – Poland’s largest bookmaker – reported a drop in net gaming revenue despite an increase in wagers in Q2.

In Q2, wagers were up 1.0% year-on-year to PLN1.11bn, despite Q2 of 2021 including the rescheduled Euro 2020. However, net gaming revenue – which includes gambling taxes as well as winnings – declined by 16.6% to PLN138m.

The business had 375,000 active users during the quarter, down from 417,000 in the same period of 2021. In addition, it reported 92,000 new registrations, down 22.7%, and 66,000 first-time depostors, down 19.2%.

Looking at the first half of 2022, net gaming revenue came to PLN296m, very slightly up from the same period of 2022.

The increase came as total wagers with the operator dipped sightly to PLN2.19bn.

“In the first half of this year, we achieved very good operating results,” STS chief executive Mateusz Juroszek said. “We have slightly improved NGR – the value of amounts staked by the customers, less the winnings paid and gambling and lottery tax – c..

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Swedish gaming revenue up to SEK6.54bn in Q1

Swedish gaming revenue up to SEK6.54bn in Q1

Total gaming revenue in Sweden was up 5.8% to SEK6.54bn in the first quarter of 2022, as growth in land-based casinos and online gaming offset a decline in lottery sales.

Despite being a year-on-year increase, revenue was down 6.8% from the previous quarter.

Online betting and gaming made up most of this total, with revenue growing 7.2% to SEK4.20bn. This was also up 0.3% quarter-on-quarter.

The state lottery – run by Svenska Spel – as well as Svenska Spel’s Vegas brand of slot halls – brought in a combined SEK1.29bn, down 4.4% from Q1 of 2021 and down 23.6% from Q4.

Svenska Spel’s Casino Cosmopol brand of land-based casinos, meanwhile, brought in SEK103m, after no such revenue in Q1 of 2021, when these casinos were closed because of Covid-19. Compared to Q4, revenue was down 28.5%

Charitable lotteries brought in SEK863m, which was very slightly up from the same period of 2021, but down 3.0% from Q4.

Restaurant casinos brought in SEK39m, up from just SEK5m in Q1, but down from SE..

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US growth helps power Sportradar revenue to €167.9m in Q1

US growth helps power Sportradar revenue to €167.9m in Q1

Data provider Sportradar’s revenue grew by 30.5% to €167.9m (£142.4m/$186.4m) in Q1 of 2022, as revenue from the US more than doubled while all other segments also experienced double-digit growth.

The United States was responsible for €25.7m of Sportradar’s revenue, more than double the total from Q1 of 2021. Meanwhile, €86.7m came from rest-of-world betting solutions, up 25.1%. The supplier said this growth was “driven primarily by increased sales of higher value-add offerings”, such as managed betting services which increased 51% to €26.4 million and live data and odds services, which increased 16% to €46.8 million.

A further €45.9m, up 16.9%, came from rest-of-world audiovisual products such as live streams, due to increased content from Tennis Australia and the National Hockey League (NHL). Revenue from other segments was up 13.6% to $9.5m.

Sportradar chief executive Carsten Koerl said it was Sportradar’s highest-margin products that had helped to power its growth.

“Our fiscal..

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Playmaker reports $5.8m revenue in Q1

Playmaker reports $5.8m revenue in Q1

Playmaker has reported revenue of $5.8m (£4.6m/€5.5m) for the first quarter of 2022.

This was up by 37% on a pro-forma basis from 2021, which comprised of Playmaker’s 2021 acquisitions- including Yardbarker, Futbol Sites and Two-Up Agency.

The total cost of sales was $728,969, leaving the gross profit at $5m.

Operating expenses amounted to $5.7m, up by $5.6m year-on-year, with all facets rising significantly. The comparative expense figures from 2021 are not on a pro-forma basis.

The rise was was mostly due to salary and wages costs, which totaled at $2.9m, rising from $17,826 in the first quarter of 2021.

Depreciation and amortisation costs were recorded at $940,836, a rise from $297 yearly, while advertising, commissions and fees came to $478,803.

The remaining expenses were made up of a number of expenditures, including general and administrative expenses, professional fees and share-based compensation.

The expenses resulted in an operating loss of $673,011, a rise of 518.8%…

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GiG: Media rules supreme, but platform potential grows

GiG: Media rules supreme, but platform potential grows

Another record peak for Gaming Innovation Group’s (GiG) media division was the highlight of the supplier’s first quarter results, but the platform arm is poised for a potentially transformational year.

Gaming Innovation Group reported revenue of €19.1m for the three months to 31 March, representing its second consecutive record-breaking quarter.

Key to this was the ongoing performance of its media arm, which reported a 40.0% year-on-year jump in revenue to €14.1m for the first quarter of the year. The affiliate business, chief executive Richard Brown explains, took a massive leap forward with player intake hitting a record 69,800 for Q1, and intake from its paid campaigns up 160% year-over-year.

“We’ve been launching quietly in a number of markets,” he explains. “Over 12 to 18 months, we launch, analyse and optimise. Once we’ve managed to ascertain the optimum return on investment we ramp up marketing spend.”

Richard Brown, GiG CEO

While there has been a marginal decline in pla..

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Lithuanian gambling revenue grows by 90% in Q1

Lithuanian gambling revenue grows by 90% in Q1

Gambling revenue in Lithuania grew 90.0% to €43.4m in the first quarter of 2022, as neither the return of the land-based sector or a wide-reaching marketing ban stopped the online sector from continuing to grow.

Online gambling revenue came to €26.8m, up 16.7% from Q1 of 2021.

The majority of revenue came from slots – which are split between category A and category B machines.

Category A slots, with uncapped payouts and stakes, brought in €15.5m, which was up 24.7% from 2021. This came on stakes of €210.4m.

Category B slots, which limit stakes to €0.50 per spin and have win amounts capped at 200 times the original stake, €683,313, up 57.9%.

Table games brought in €1.6m, up 25.5%, on €19.4m worth of stakes and betting revenue was €9.0m, up 2.1%, on stakes of €125.3m.

Turning to the land-based sector, revenue was €16.9m after the sector recorded negligible revenue in Q1 of 2021 with land-based gaming venues closed.

Again, most of this came from slots. category A machines brought ..

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