Betsson Revenue Grows in Q1 - 05-01-08

May 1 - Bettson, the Swedish online gambling empire, has announced its financial results for the first quarter of this year, showing strong growth and solid returns.

Bettson pulled in SEK 227.8 million in the first three months of this year, an increase of 54 percent from the same time period last year. The company made SEK 53.6 million in profits, up by 29 percent last year.

During Q1 2008, Bettson invested in gambling markets in countries such as France, Italy, Germany, Greece and Spain, and has also ventured into the South American market through its connections with a Peruvian gambling company.

The CEO and President of Betsson, Pontus Lidwell, was naturally pleased with the results and said: "During the first quarter, Betsson has increased focus on customer acquisition and growth. I conclude that the investment has been successful and that we as a result of this laid down a solid foundation for future growth during the year to come."

54 percent of Betsson's gross profits originated from its casino operations, while poker brought in 25 percent, and sports betting a further 19 percent. Despite an increase in the number of poker customers overall, profits from this sector decreased because of currency exchange issues.

Geographically, 59 percent of the company's profits came from customers playing out of the Nordic countries, while the rest of Europe made up 41 percent of the net profits.

Betsson is reportedly pleased with the progress that the company has made into Q2, and is considering further expansion into Europe through the opening of shops across the Continent. It also launched Serbia Bettson this week.

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