Betsson Q3 operating profit beats expectations (updated)

Betsson AB

24/10/2018 06:49

(Adds bullet on Q4 daily revenue)
    Oct 24 (Reuters) - Betsson AB  BETSb.ST :
    * Q3 GROUP REVENUE WAS SEK 1,426.8 (1,180.6) MILLION, AN
INCREASE
OF 21 PERCENT
    * Q3 OPERATING INCOME (EBIT) WAS SEK 340.2 (216.0) MILLION
VERSUS
MARKET EXPECTATIONS OF 290 MILLION SEK, ACCORDING TO ESTIMATES
    * SAYS Q4 HAS BEGUN WITH DAILY REVENUES HIGHER THAN AVERAGE
DAILY
REVENUE FOR FULL Q4 LAST YEAR
    * SAYS GOING FORWARD, WE EXPECT MARKETING INVESTMENTS TO
INCREASE
AS ONLINE GAMING LICENCES ARE INTRODUCED IN SWEDEN
    * SAYS BETSSON SEES NETHERLANDS AS AN IMPORTANT MARKET
LONG-TERM
AND HAS AMBITION TO CHANNEL DUTCH CUSTOMERS INTO LICENCED SYSTEM
WHEN MARKET RE-REGULATES
    * SAYS THE DAILY REVENUE IN THE FOURTH QUARTER 2018 UP UNTIL
21
OCTOBER WAS 6 PERCENT (3 PERCENT ORGANIC) HIGHER THAN THE
AVERAGE DAILY REVENUE OF THE FULL FOURTH QUARTER 2017


Source text for Eikon:  ID:nWkrb3sDY3 
Further company coverage:  BETSb.ST 

 (Reporting by Stockholm Newsroom)
 ((stockholm.newsroom@thomsonreuters.com; +4687001017;))