Betsson Latest Online Gambling Firm Sees Huge 3rd Quarter Results

Written by:
Aaron Goldstein
Published on:

The Swedish online gambling firm Betsson has reported a 22 percent increase in revenues for the 3rd quarter of 2010, the latest company in the multi-billion dollar sector to claim a strong performance over that period.  So far, has noted the top results for Ladbrokes, William Hill and PartyGaming, among others

For Betsson, it was the strongest quarter ever recorded by the company.

Gross turnover in its Sportsbook amounted to 634.9 million and an increase of 91 percent while gross turnover in live betting in Sportsbook amounted to 194.2 million - an increase of 278 percent.

"The activity level in the different gaming solutions has never been greater. Live betting in Sportsbook is particularly strong, with strong growth on all key markets which is joyous. Large short term operational receivables together with large currency fluctuations during the major part of the quarter increased currency exposure in the short term. This contributed to high cost for currency revaluations. This exposure is now significantly lower." stated Pontus Lindwall, Betsson's President and CEO.

The company operates its online gambling brand out of Malta with a heavy focus on the Scandinavian market. 

- Aaron Goldstein,

Business/Financial News

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