The online gambling giant, Betsson Group, seems to be targeting nothing but success in the newly regulated market in Sweden. The group has labeled 2018 as the turning point to the company, with the company delivering the highest revenue for the 3rd successive quarter. The company showed fourteen percent growth in Q4 to reach SEK 1.4 billion, which nudged the full-year figure to reach 5.4 SEK, which is a fifteen percent increase from 4.7 billion last year. The new Swedish market dominated a large chunk of the attention of the company for that year.
The CEO and President of Betsson, Pontus Lindwall, stated that during last year, 2018, the company has prepared a lot for the Swedish regulation which became effective on the first day of 2019. The preparations for the new re-regulated market included the securing of compliance, as well as an increase in marketing activities. He also added that staying on track and executing efficient operations are two crucial points when it comes to absorbing the costs from betting duties in other markets. On the other hand, the company has many advantages that give it a financial strength, such as being a large group with a lot of experience in the industry, in addition to several gaming brands and geographical spread that enables its operations to be scaleable.
He continued by saying that he is hoping to see channelization of around 95%, as he understands that it is going to benefit the customers, the long-term operators as well as the shareholders of the group. They had a challenge, which is to have the technical requirements ready and running by the 1st of January, but they managed to pull through.
Big players are making their entrance to the Swedish Market regularly, and this is why it has changed the conditions of the market. The CEO of Betsson Group stated that it is going to change the market and the number of new companies will have an impact. All of these factors resulted in a challenging start to the year in Sweden; however, the activity of the customers is in line with the expectations. The group is expecting the market to keep growing sustainably, and they are overall positive about the growth of the industry in the regulated market.
The company reported year on year growth for all of the regions it is a part of its gambling market. The operations of the casino thrived in the 4th quarter with a 24% increase to over 1 billion SEK, which contributed to more than 75% of the revenue of the group. As for the mobile casino, it increased to reach 683.5 million SEK with a 35% boost from SEK 507 million. As for the sportsbook revenue, it suffered a decrease of five percent to reach 341.4 million SEK.
Bonnie Trelane is a professional author with a background in igaming and modeling. Bonnie plays Blackjack at many of the prominent casinos in the U.S. and has a fondness for Caesars owned casinos.