Betsson jumps after reporting 'record' 2021 results

Betsson AB

10/02/2022 08:31

** Shares of Betsson  BETSb.ST  soar more than 8% after the
Swedish online gaming company posted a year-on-year increase in
FY revenue and EBIT  urn:newsml:reuters.com:*:nFWN2UK1HT
    ** FY revenue was SEK 6.67 billion ($733.64 million) with
EBIT of SEK 1.19 billion, an increase of 4% and 6% from year
ago, respectively
    ** "For Betsson, 2021 ended up a record year in terms of
revenue and a result that matches the record result from 2018,"
the company said in a statement
    ** However, Betsson experienced headwinds in the fourth
quarter, such as exceptionally low sportsbook margin in October,
hence quarterly revenue and EBIT decreased by 10% and 34%,
respectively
    ** The stock is on track for its best day since September
2021

($1 = 9.0916 Swedish crowns)

 (Reporting by Marta Frackowiak)
 ((marta.frackowiak@thomsonreuters.com))