News

Betting Promotion's Q2 turnover halves as football season ends 03/07/2009

Jon Parker

Market maker Betting Promotion's net turnover fell by more than half in the second quarter of 2009, dropping 51% to SEK9.6m (£750,000, €878,000), from SEK19.6m in the previous quarter.

The Swedish company's gaming turnover was down a more moderate 9% to hit SEK2bn, after hitting SEK2.2bn in Q109.

Managing director Johan Moazed said: "The gross margin for the quarter was lower than expected. This is partly explained by the second quarter usually being a period of high volatility. Higher volatility is caused by many of the soccer leagues coming to an end and because major championships are played during this period.

Gross margin fell by almost half to reach 0.48%, after hitting 0.87% in the previous quarter.

Moazed added, however: “When analyzing the year following the changes implemented in the trading models, it is satisfying to note that on a rolling yearly basis we have achieved a net turnover after fees of SEK 69.8m leading to a gross margin of 0.81%".

Football (soccer) is by far the biggest market for Betting Promotions, accounting for turnover in the period of SEK1,398m, net turnover after fees of SEK7.4m and enjoying the best gross margin, of 0.53%.

In-running accounted for SEK320m turnover, SEK1.3m gross turnover and a had a margin of 0.40%, while other markets accounted for turnover of SEK288m, net turnover of SEK1m, and had a margin of 0.33%.

As reported on EGRmagazine.com, Betting Promotion’s net turnover rose 80% in Q109 as a result of the company’s 2008 restructure.

Don't miss out on egaming news: sign up for our free, daily Snapshot email. Or get the news as its breaks with the free eGaming Review RSS feed.

Posted: 03/07/2009

Tags: Betting Promotions , Football , Q209 results , Scandinavia

User comments

There are currently no comments on this article.

egrjobs.com

Star Job

Leading Casino Innovator - Customer Services Manager

WMS Industries

Fraud Operations Manager

EsandaRecruitment.com , UK,Mainland Europe

Senior CRM Manager

EsandaRecruitment.com , UK

Marketing Manager – Casino/Bingo

EsandaRecruitment.com , UK

Online Marketing Manager – Gala

Gala Coral , UK

Online Marketing Manager – Coral

Gala Coral , UK

more jobs…

Events

If you came to the first eGR Live in December 2009 you will know that this is a brand new…

more

Blog

» more blogs

Need to know: financials, Betfair, floatation and Florida 05/03/2010

March's first Need to Know discusses the 2009 financial results of four major operators on either side of the Irish Sea, plus Betfair, floatation, Florida and red herrings...

Why we're betting on US betting 05/03/2010

US federal online gambling legislation is unlikely at present, says Daniel Beard of recruitment agency Pentasia, but moves to introduce intrastate regulation by states such as California, Florida and New Jersey are strong enough to have led the company to open a US office on the basis that new laws are now ‘when', not ‘if'.

Betfair and the floatation tank 03/03/2010

There is cautious optimism among the UK broking community that 2010 will see a rebound in the IPO market - but institutional investors remain wary of all operators but one, says Akur Partners' David Shapton, who explains why...

Features

» more features

Online gambling: up for the Cup

Regulation and consolidation could prove transformational and the football World Cup in South Africa this year is set to be a major staging post in the battle for market share. EGRmagazine.com looks at how these factors will impact the sector.

The world in B2B

Remember the good old days? When operators operated, service providers provided services? Well, those days are long gone. With the distinction between operator and service provider fast disppearing, eGaming Review rounds up which operators have signed which business-to-business deals so far in a handy cut out and keep guide.

newsletter

Betting Promotion's Q2 turnover halves as football season ends 03/07/2009

User comments

Most Popular Stories Now

Popular Searches (click)

Need to know: financials, Betfair, floatation and Florida 05/03/2010

Why we're betting on US betting 05/03/2010

Betfair and the floatation tank 03/03/2010