Brief: Betsson Q4 Operating Income Falls To SEK 200.5 Million

Betsson AB

13/02/2020 06:38

Feb 13 (Reuters) - Betsson AB  BETSb.ST :
    * Q4 OPERATING INCOME (EBIT) WAS SEK 200.5 (341.5) MILLION
    * Q4 GROUP REVENUE WAS SEK 1,289.5 (1,436.6) MILLION
    * BOARD OF DIRECTORS PROPOSES TO AGM THAT SEK 393.1 (538.4)
MILLION, WHICH CORRESPONDS TO SEK 2.84 (3.89) PER SHARE
    * Q4 CASINO REVENUE DECLINED BY 10 PERCENT AND SPORTSBOOK
REVENUE
DECLINED BY 9 PERCENT
    * 2019 FULL-YEAR OPERATING PROFIT OF SEK 865 MILLION SHOWS
THAT
BETSSON CAN DELIVER DESPITE SEVERAL MARKET CHALLENGES - CEO
    * UP UNTIL NOW, ONE YEAR AFTER SWEDISH RE-REGULATION, WE
HAVE
STILL NOT SEEN MARKET CONSOLIDATION THAT WE EXPECT DUE TO GREAT
NUMBER OF OPERATORS, MANY OF THEM SHOWING NO PROFITABILITY
    * DEVELOPMENT IN SWEDEN, NORWAY AND NETHERLANDS HAVE
CONTINUED TO
BE WEAK, WHILE OTHER MARKETS IN WHICH BETSSON OPERATES, LOCALLY
REGULATED AND NON-LOCALLY REGULATED, HAVE PERFORMED WELL
    * WE HAVE SEEN DECLINING CHANNELISATION, WHICH MAKES IT
DIFFICULT
FOR LICENSED OPERATORS WHO PAY 18 PERCENT GAMING TAX AND IT ALSO
JEOPARDIZES CONSUMER PROTECTION

Source text for Eikon:  ID:nWkr4ZRYGm 
Further company coverage:  BETSb.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))