QUARTER JANuarY -
· Group revenue was
of 7%, reported and organic.
· Casino revenue was in line with the same quarter last year. Sportsbook revenue increased by 29% and the sportsbook margin was 8.5 (6.3)%.
· Operating income (EBIT) was
The EBIT margin was 18.4 (19.2)%.
· Operating cash flow was
SIGNIFICANT EVENTS AND OUTLOOK
·
·
·
· Share buy-back of
· The daily average revenue in the second quarter 2020 until 16 April was 0% (2% organic) higher than the average daily revenue of the full second quarter 2019.
CEO COMMENT
"We had a strong first quarter in all areas and I look forward to the future with confidence. We reached a milestone in signing our first pure sportsbook customer, we have made a value accretive acquisition and we have launched a new casino product."
"`ibet' is our first pure B2B sportsbook customer with the plan to launch in time for the Euro 2020. Due to the current situation, launch has been postponed until the leagues and tournaments resume. Our intention is to sell our highly competitive sportsbook to external operators and we are seeing strong interest in this.
We see strong interest in our products which are being continually optimised to create a compelling choice of entertainment and UX for the consumers. One example is the recent launch of `Jalla Casino', a fast, fun and easy to play mobile casino which has received positive feedback from consumers.
The sportsbook has shown healthy growth in the first quarter. Most recently, the positive trend has been broken due to the cancellation of sporting events. However, we now see a shift to sports such as table tennis and eSports, it is an interesting increase in breadth which could be long term positive. We have added further events to our offering and believe that when sporting events gradually re-enter the betting market, our sportsbook offering will be even more powerful than before.
I am impressed with how well the Company has adopted to the current global challenge. We are performing surprisingly well with no major disruption to the business and we see no need to make any changes to our strategy or the way we operate. We will continue investing in our technology and product portfolio and will launch new products and features as planned.
The health and safety of our employees always come first, to ensure that and to contribute to society via social distancing, we are all working from home. There has been a seamless transition to remote working which reflects on the quality and dedication of our hardworking people. I am very proud to see the unique morale, commitment, passion and the way we work as a team at
We are a historic performer with a strong track record of creating shareholder value, we have demonstrated resilience to market fluctuations and delivered in both good times and tough times. We have a well-diversified and secure supplier base, high and stable profit margins and a strong balance sheet.
Looking ahead, when the situation has normalised, I am confident we will come out of this extraordinary situation even stronger, benefiting from our sustainable growth strategy. The offline to online transition is likely to be accelerated globally as a result of the covid-19 pandemic, creating consolidation opportunities for strong businesses. Our successful strategy continues, I am proud of this quarter's performance and look forward to the future with confidence."
PRESENTATION OF THE INTERIM REPORT
At
Audiocast link:
https://edge.media-server.com/mmc/p/jzkqeuvr
Dial-in numbers:
Sweden: +46 856642651
United Kingdom: +44 3333000804
United States: +1 6319131422
PIN: 48401271#
For further information, please contact:
+46 8 506 403 00 pontus.lindwall@betssonab.com
Martin Öhman,
+46 8 506 403 00 martin.ohman@betssonab.com
Anna-Lena Åström, Head of Investor Relations
+46 761 80 55 46 anna-lena.astrom@betssonab.com
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