Betsson Releases 2012 Financial Results

The online betting firm Betsson has just brought out details of their financial results for 2012 and the figures are overall very positive, with both their revenue and the volume of customer account deposits going up.

For a start, the revenue was up at SEK 659.9 million (all of the figures are in Swedish Krona) from the previous year’s total of SEK 515.2 million. This works out as an impressive rise of 27%. The gambling group’s operating income increased by SEK 1.1 million and the income before tax by SEK 0.5 million. Net income went up by SEK 1.1 million.

Big Investments

The main reason why the increase in revenue wasn’t matched by a profit increase is that the company’s investment in emerging markets and in developing software in China amounted to SEK 30 million more than in the previous year. The costs of restructuring also added up to SEK 5.8 million.

Of all of the group’s products it was the Sportsbook which provided the most spectacular set of results, rising from SEK 2,171 million in 2011 to SEK 3,782 million last year, which was a jump of 74%.

The cash deposits made by customers shot up to an all time record figure of SEK 2,154 million, which was an increase of 45% over the previous year.

Magnus Silfvrberg is the CEO and President of Betsson and he said that the growth which can be seen in the financial results for 2012 was “built on historical investments”. He also pointed out that they are still investing big amount of cash in “marketing and technology”