Betsson reports good result for second quarter

According to the Swedish betting officialdom’s reports, it looks like that it didn’t succeed to stop the progress of the success of Betsson's land wagering shop, opened in Stockholm previous this year and continues to go well, according to Q2: 2008 results announced this week.
The confident Swedish online gambling group showed a 63 % increase in profits to SEK 236.9 million (SEK145.6 million in Q2:2007) whilst operating profits went up 29 % to SEK 60.1 million (Q2:2007 SEK 47.2 million).

The fresh betting shop, in cooperation with a refurbished Internet sportsbook contribution generated profits previous to taxes of SEK 61.4 million (Q2: 2007 SEK 47.6 million) with profits following tax hitting SEK 57.2 million (43.4 million last time).

“The second quarter is usually more quite than the first quarter,” stated Pontus Lindwall, Chief Executive Officer for Betsson, giving details that the use of fine offers to clients has made it possible for the company to uphold and even boost activities throughout the second quarter, turning it into the toughest quarter up to now.

Betsson.com lately started as well in Serbia and the Netherlands but it is Scandinavia that stays the firm’s biggest market with 59 % of total income, whilst the rest of Europe accounted for 41 %. The report indicates that the tendency is moving towards a bigger percentage from the rest of Europe.

Online casino achievement brought out a 102 % boost in total income, but this firm outcome was outshined by the 274 % raise from the Betsson sportsbook, at the same time as poker was below that, going down 25 % compared with the same quarter last year.

Betsson's casino movements presently constitute a fraction of 60 percent of its total income, after that poker at 19 % and sportsbook operations with 18 %.

Examining the 6 months to June 30, incomes have boosted through the first half 2007 by 58 % to SEK 464.7 million, with operating income higher 26 % to SEK 116.9 million. Profit previous to taxes reached to SEK 118.9 million, and following taxes SEK 110.8 million.

Casino News: Betsson reports good result for second quarter

Betsson reports good result for second quarter