Igaming operator Betsson has released results showing the company has continued to prosper amid a complex year for the industry due to the Covid-19 pandemic.
The company also showed it entered 2021 strong with a continued growth during Q4 with an EBIT increase of 59 per cent.
The company’s group revenue grew to SEK1,762.5m, an increase of 37 per cent with an organic increase of 36 per cent.
Even amid a year which hit the industry hard due to the pandemic, the operator’s full year revenue was SEK6,389.6m, an increase of 24 per cent with an organic increase of 20 per cent.
Operating income saw an increase of 30 per cent from SEK865m to SEK1,125.2m, with the EBIT margin growing from 16.7 per cent to 17.6 per cent.
Betsson’s net income was SEK990.8m, up from SEK787.1m, which corresponded to SEK7.32 per share.
Pontus Lindwall, Betsson CEO, said: “Betsson ended 2020 with yet another strong quarter. Under the extraordinary circumstances that still prevail, online gaming continues to demonstrate its resilience to market fluctuations and Betsson demonstrates good profitability.
“The increase is driven by both casino and sportsbook with a sportsbook margin that was slightly higher compared with the third quarter this year.
“We are pleased by the continued strong development in the Nordics, especially in Denmark and Sweden, at large driven by the pay and play brand Jalla Casino.”
