Publishing its Interim H1 2023 results, Betsson achieved ‘another record-breaking quarter’ with the brand hailing its confidence as the firm sees its portfolio continue to expand within new markets. Generating Q2 revenues of €237m up 27% on 2022 comparative results of €186m, Betsson highlighted its revenue from locally regulated markets where the Stockholm-listed firms’ betting duties increased by 32% to €86m.
Joining CasinoBeats Editor, Craig Davies, on iGaming Daily, sponsored by SBC Summit Barcelona, to go over Betsson’s recent H1 revenues, are Betsson AB CEO & President Pontus Lindwall and Jesper Svensson, CEO of Betsson Operations, who explored the company’s performances in various markets, which markets have the most potential and looking into aims for Q3.
Later on in the show, SBC’s Content Director Ted Menmuir joins Craig to go over Betsson’s results in further detail.
The group excitedly kicked off the podcast with discussions surrounding Betsson’s Q2 report, and the key areas that allowed Betsson’s record growth.
“We’ve been doing heavy work for for many years and have executed on a strategy that we decided upon like four years ago and it’s paying off,” Svensson stated
Following on from that Lindwall spoke about Belgium and what Betfirst will bring to Betsson’s European operations.
Lindwall said: “We really like what we saw the company is very skilful they have a very good position within sports betting in the country and also through the partnership that Betsson has with Groupe Partouche from France we can support that Betfirst with their eight plus licence which will broaden their product offering.”
Continuing the discussion Lindwall mentioned Betsson’s reasons behind choosing other licences over the Netherlands licensing.
“We managed to increase revenues and profits strongly without the Netherlands market,” stated Lindwall. “This doesn’t mean that we don’t like the Netherlands Market we would like to be there but we just had to move those resources to other projects which are more appealing right now for the time being.”
Furthermore, Svensson discussed Betsson’s rapid expansion in Argentina and how they’ll continue to strengthen relationships in the LatAm region.
Svensson added: “With most of our supporters in Argentina, we’ve already got great exposure and we’re already seeing the impact of this on our KPI’s, but I think by us to doing this it shows our commitment towards the whole region. Over time we believe that Latin America will be a great growth area for our business.
“I think one market that is relevant for us is Peru. We are in a strong position there and they’re moving towards a local regulation there, so there’s things happening within that market.
“Colombia is also important for us it’s where we have our regional Hub we’re built up an office and strong local presence there”
Continuing the discussion, Lindwall mentioned the key qualities that set them apart from other B2B suppliers.
“Betsson has been doing B2B for a long period of time and there’s a long lasting relationship in the second region that is doing really well. What we’re doing well with our partners overall, is that we listen to their product needs and we try to adapt the product in line with how they see fit for their respective markets”: Mentioned Lindwall
Concluded Svensson: “We are permanently looking for M&A opportunities and being such a profitable company. With a strong balance sheet, we have the ability to acquire more companies even after this.”
Finalising the discussion the group mentioned what highlights we could expect in Betsson’s third quarter.
Ted Menmuir, SBC’s Content Director later joined the podcast and offered his own perspective on Betsson’s Q2 report.
He stressed: “Betsson has a right to be confident, their strategy is working. I think the reality is that there is going to be a severe regulatory tightening across Western European markets. If I was a Betsson investor I would like to assess where they are at the end of the year in these Western markets.”
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