Online Casino Transfer: News - Betsson Increases Dividends

02/25/2010		Online Casino Style: News Betsson Increases Dividends
Home History Games News Dictionary		For those investing in the online gambling industry, one firm has released an unprecedented statement regarding the payment of dividends, causing a happy uproar for those who own stock in the company. While it’s been no secret that internet casinos have done better in the tumultuous waters of the rough economy over the last two years, the announcement that Betsson is raising their dividend payments by 76 percent to SEK 9 a share still was surprising, making their holders very happy people indeed. The Swedish online gambling firm confirmed that the price is a record for dividends paid on Betsson stock, but attributed the reward to their 15 percent increase in operating income. Revenues, likewise jumped more than expected, totaled to be 25 percent higher than they were last year. Pontus Lindwall, the CEO for the group released a statement to the online gambling press, proud of last year’ operating income, which had jumped to SEK 316.9 million, up from the previous year’s SEK 276.6 million. Likewise, their revenues burst in at SEK 1299 million, in increase of 262 million from 2008. Sports betting saw growth as well, with the division’s gross profit up 33 percent from the previous period, while online casino acting grew by 28 percent. Online poker was the only sector that failed to meet management’s expectations, continuing the disappointing trend established in the last two years. Lindwall said that the issue was being address, reaffirmed Betsson’s belief in their product, but alluded to the competition in the market being just to tough to keep up with. He was too conservative to make any distinctive predictions for poker in 2010, even when asked. He did give a shout out to the hardy nature of the internet gambling industry, saying that his company’s results and their subsequent record-breaking dividend payments were proof “…that this industry is resilient to the economic downturn, and that can conclude that this kind of company has a very strong position even in a bad financial climate.” Nordic nations continue to be Betsson’s focus, with more than 50 percent of their revenues originating from the region in 2009; another 37 percent came from Europe, with 13 percent from the rest of the world.

02/25/2010

Online Casino Style: News
Betsson Increases Dividends

For those investing in the online gambling industry, one firm has released an unprecedented statement regarding the payment of dividends, causing a happy uproar for those who own stock in the company. While it’s been no secret that internet casinos have done better in the tumultuous waters of the rough economy over the last two years, the announcement that Betsson is raising their dividend payments by 76 percent to SEK 9 a share still was surprising, making their holders very happy people indeed.

The Swedish online gambling firm confirmed that the price is a record for dividends paid on Betsson stock, but attributed the reward to their 15 percent increase in operating income. Revenues, likewise jumped more than expected, totaled to be 25 percent higher than they were last year. Pontus Lindwall, the CEO for the group released a statement to the online gambling press, proud of last year’ operating income, which had jumped to SEK 316.9 million, up from the previous year’s SEK 276.6 million. Likewise, their revenues burst in at SEK 1299 million, in increase of 262 million from 2008.

Sports betting saw growth as well, with the division’s gross profit up 33 percent from the previous period, while online casino acting grew by 28 percent. Online poker was the only sector that failed to meet management’s expectations, continuing the disappointing trend established in the last two years. Lindwall said that the issue was being address, reaffirmed Betsson’s belief in their product, but alluded to the competition in the market being just to tough to keep up with. He was too conservative to make any distinctive predictions for poker in 2010, even when asked.

He did give a shout out to the hardy nature of the internet gambling industry, saying that his company’s results and their subsequent record-breaking dividend payments were proof “…that this industry is resilient to the economic downturn, and that can conclude that this kind of company has a very strong position even in a bad financial climate.” Nordic nations continue to be Betsson’s focus, with more than 50 percent of their revenues originating from the region in 2009; another 37 percent came from Europe, with 13 percent from the rest of the world.