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A Strong Q1 for Swedish Company

Betsson is an online casinos gambling group based out of Sweden and operating in several European markets. The company is popular in the sportsbetting arena and operates in several of the most prominent international gambling markets with competition from some of the other top betting companies. Additionally, Betsson is facing some problems with the company’s German betting market because of the country’s attempt at an online casinos gambling monopoly. Fortunately for Betsson, the company is doing well in its established markets as well as plans to enter new markets throughout the year. These positives are part of why the company was able to announce positive first quarter financial results, which bode well for the rest of the company’s fiscal year in the online gambling market.

The first quarter of the year delivered surprisingly great results, the company’s revenue came in above expectations which is great considering the large amounts of competition in the online casinos gambling and betting industries. The first quarter revenue showed at whopping 54 percent increase – coming in at 228.8 million this quarter.

In addition to just bringing in new revenue for the short term, the online casinos gambling group also reported that the company has increased the number of new and active customers for the quarter. The company employed some heavy marketing campaigns to lure in the new online casinos gamblers which bodes well for the upcoming European sports season. The CEO at Betsson, Pontus Lindwall, noted that the expenditures were well worth the money, “Our marketing costs (have) increased but it has been worth it because we got the customers registered and playing with us. This will enable us to make the most of the football tournament this summer.” All in all the report indicates that Besson is well positioned in the international online casinos betting industry to do well.