Quarterly results Archives - Page 3 of 4

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..

July 20, 2022

STS revenue declines despite higher stakes in Q2

Sports Betting News Bookiecity

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..

May 18, 2022

Swedish gaming revenue up to SEK6.54bn in Q1

Sports Betting News Bookiecity

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..

May 18, 2022

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

Sports Betting News Bookiecity

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..

May 17, 2022

Playmaker reports $5.8m revenue in Q1

Sports Betting News Bookiecity

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%…

May 11, 2022

GiG: Media rules supreme, but platform potential grows

Sports Betting News Bookiecity

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..

May 10, 2022

Lithuanian gambling revenue grows by 90% in Q1

Sports Betting News Bookiecity

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 ..

May 6, 2022

DraftKings beats EBITDA target, but still reports $467.7m Q1 loss

Sports Betting News Bookiecity

DraftKings’ losses continued to grow to $467.7m in Q1 of 2022, but the business raised its earnings guidance for the year after its EBITDA loss was much lower than its target range for the period.

Revenue grew 33.6% to $417.2m in the quarter.

B2C online betting and gaming continued to make up the vast majority of DraftKings revenue, with revenue from this segment up 41.6% to $386.7m.

DraftKings chief financial officer Jason Park added that revenue in this area would have been $25m higher if not for lower-than-normal hold percentages.

Other revenue, such as revenue from media operations and the operator’s non-fungible token (NFT) “marketplace”, more than doubled to $17.0m.

“DraftKings delivered significant growth across our key revenue and performance metrics,” said Jason Robins, DraftKings’ co-founder, chief executive officer and chairman. “We are not seeing any impact from inflationary pressures on customer demand, and we continue to improve the user experience by adding breadth ..

April 28, 2022

Churchill Downs revenue hits record $364.1m in Q1

Sports Betting News Bookiecity

Churchill Downs Incorporated (CDI) has opened 2021 with a record-breaking performance over the three months to 31 March.

Group revenue for the first quarter of 2022 increased 12.3% year-on-year to $364.1m (£290.4m/€345.9m), a new record for the business.

Gaming was the top performer over Q1 with revenue of $179.2m, up 16.4% year-on-year, aided by capacity restrictions at its Oxford Casino Hotel in Maine, Flordia’s Calder Casino and Presque Isle in Pennsylvania.

The gaming division is set to expand further through the acquisition of Peninsula Pacific Entertainment, which adds properties in New York, Virginia and Iowa to CDI’s portfolio.

The operator’s advance deposit wagering business Twinspires followed with revenue of $101.4m, down marginally year-on-year, after a decline in horse racing revenue was partially offset by growth from its sport and casino business. That operation is being wound down, however.

CDI’s live and historical horse racing business reported a 34.8% jump in r..

April 27, 2022

ATG revenue stable in Q1 as casino helps offset racing decline

Sports Betting News Bookiecity

Net profit for Aktiebolaget Trav och Galopp (ATG) declined slightly in Q1 of 2022, which the business said was mostly due to a greater focus on higher-cost verticals of non-racing sports and gaming.

Net gaming revenue was exactly stable year-on-year, at SEK1.27bn (£102.6m/€121.9m/$128.9m).

Almost all of this net gaming revenue, at SEK1.06bn, came from online operations, up by 3.5%.

Retail revenue, on the other hand, was down 14.7% to SEK208m.

Looking at net gaming revenue by product type instead, horse racing brought in SEK970m, down 7.4%.

“Despite the decline, the figure is historically high,” ATG chief executive Hasse Lord Skarplöth said.

Sports betting revenue was up 27.3% to SEK177m and casino revenue grew 47.6% to SEK121m.

“We continue to gain market share in Sweden and consolidate our position in sports betting,” Skarplöth said.

Explaining the rapid increase in casino revenue, Skarplöth said that a key factor was the removal of Sweden’s SEK5,000 deposit cap for online ca..

Tag Archives: Quarterly results