'Impressive' earnings beat fuels Betsson shares

Betsson AB

21/07/2022 09:19

** Shares of Sweden-based Betsson  BETSb.ST  rise 10.4%
after the company published Q2 results with core revenues
beating both analysts' expectations and last year's results
 urn:newsml:reuters.com:*:nL8N2Z213N
    ** Pareto Securities says the online gaming company
delivered an "impressive earnings beat" with sales, driven by
casino segment, beating estimates by 8% and EBIT 16% ahead of
consensus  
    ** The broker also highlights the company's sportsbook
segment at EUR 50 mln ($ 51.06 mln), adding though the latter is
"attributed to a continued high SB-margin rather than gross
turnover"
    ** "Betsson's trading update for the first 17 days of Q3 is
also stronger than expected at 9.4% year-on-year," Pareto says
    ** The stock is on track for its best day in five months
($ = 0.9790002 EUR )

 (Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@thomsonreuters.com))