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.”