Betsson soars on strong Q4 results as Latam revenue doubles

Betsson AB

14/02/2023 09:34

** Shares in Betsson  BETSb.ST  jump 9% after the Swedish
online gambling group's Q4 operating income almost doubled
year-on-year driven by the football World Cup and strong Latin
American operations
    ** Betsson reports a 40% rise in quarterly revenue to 220.6
million euros ($237.15 million) and a 92% jump in operating
income to 40 million euros
    ** Pareto analyst Gerog Attling says both revenue and
operating profit were above expectations
    ** "Main positive in the quarter was the development in the
Latam region where revenue doubled y/y," Attling says
    ** The company says active players, deposits and turnover in
both casino and sportsbook were at all-time high Latam countries
    ** Revenue in the region grew 101.6% to record-high 52.3
million euros
    ** Betsson also says average daily revenue in Q1 2023 so far
was a third higher than in the full Q1 2022
($1 = 0.9302 euros)
 (Reporting by Boleslaw Lasocki)
 ((boleslaw.lasocki@tr.com))