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Betsson Record Profit Despite 5% Revenue Decrease

by Glenn Baird - February 14, 2020

The Swedish based gambling giant Betsson published its results for 2019 and despite what has been a difficult year of changes within the industry claim to have achieved their goals for the year.

More stringent regulations within Scandinavian markets and the Netherlands have seen Betsson’s group revenues drop by 5% in 2019, to 493m Euros.

In the face of this apparent downturn in fortunes for 2019, Betsson President & CEO Pontus Lindwall is maintaining a positive stance over what could be considered a difficult year.

He said: “We are proud to report a 2019 full-year operating profit of SEK 865 million,”

“This shows that Betsson has the ability to run a profitable business, even during a year of challenges. Despite a notch in the growth curve, our ambition is to grow more than the market, organically and through acquisitions.

“During the fourth quarter we made a minor strategic acquisition and continue to analyse several opportunities, both in locally regulated markets and in markets that will be regulated. By further increasing the geographical distribution, we can reduce the impact of temporary downturns in individual markets.”

The United Kingdom of Great Britain and Northern Ireland sits to the north-west of mainland Europe. The United Kingdom shares a border with The Republic of Ireland and has coasts on the Atlantic Ocean, Celtic Sea, North Sea, Irish Sea and English Channel. The population of the UK is approaching the 67.6 million mark leading to a fairly densely populated land mass. The gambling sector in the United Kingdom is entirely regulated and licensed by the UKGC – the United Kingdom Gambling Commission. Should players resident In the UK wish to gamble with foreign based operators there is no history of this being treated as a criminal offence, but high levels of protection exist for UK residents playing with UK licensed operators.

Disclaimer:

The above information is what we believe to be the the legal status of online gambling, however information on this topic is limited and hard to find. We accept no liability for any errors or ommissions. It is the reader’s responsibility to ensure that they know the legality of online gambling in their country before engaging with any online gambling service.