Investors Happily Surprised

11/20/2008		Investor Happily Surprised
Home History Games News Dictionary		Surprising as it might be to some American readers, as news hits that the US stock market is down at its lowest since after the 9-11 tragedy 7 years ago, there are parts of the world that are thriving- at least for the industry of online betting and casinos. The third quarter numbers have come in for Swedish gambling company Betsson, giving investors more than just a little encouragement in how they’ve decided to invest. The three month period saw numbers soaring in terms of profit and growth for most sectors, and total revenues were reported to rise up 52% compared to last year. Last years numbers saw revenue at :-165.5 million (Swedish krona) to this year’s final estimation of :-252 million. Operating profits are up 26% and active customers have increased from 90,800 players in 2007 to 127,300- a 40% increase in participation. Sectors analyzed include Betsson sportsbook, online poker, and online casino operations, which contributed the most to profits at 62%. Poker contributions only raised to 4%, while the sportsbook elements stayed consistant to last year’s numbers. Contributions from other products associated with the Betsson gambling company grew by 29%. The surges in productivity come as a huge encouragement for a company known to be less-than diplomatic with some of their major decisions. Betsson differs from many of the more acquiescent online casinos when it comes to the grey areas of the European Union laws, and has remained steadfast in their stance, even after the Stockholm incident. In spite of, or perhaps in defiance of Swedish gaming practices, Betsson opened a land-based betting store in Stockholm, despite warnings and threats issued by local gaming authorities. The police followed through with fines and an open investigation to the legality of such an establishment, but through it all, Betsson has only insisted on their rights within the EU, both dutifully paying the applicable fines, but refusing to close the operations. With positive changes tentatively ahead in regards to Swedish law and regulations, it may have all turned out just as planned.

11/20/2008

Investor Happily Surprised

Surprising as it might be to some American readers, as news hits that the US stock market is down at its lowest since after the 9-11 tragedy 7 years ago, there are parts of the world that are thriving- at least for the industry of online betting and casinos.

The third quarter numbers have come in for Swedish gambling company Betsson, giving investors more than just a little encouragement in how they’ve decided to invest. The three month period saw numbers soaring in terms of profit and growth for most sectors, and total revenues were reported to rise up 52% compared to last year. Last years numbers saw revenue at :-165.5 million (Swedish krona) to this year’s final estimation of :-252 million. Operating profits are up 26% and active customers have increased from 90,800 players in 2007 to 127,300- a 40% increase in participation.

Sectors analyzed include Betsson sportsbook, online poker, and online casino operations, which contributed the most to profits at 62%. Poker contributions only raised to 4%, while the sportsbook elements stayed consistant to last year’s numbers. Contributions from other products associated with the Betsson gambling company grew by 29%.

The surges in productivity come as a huge encouragement for a company known to be less-than diplomatic with some of their major decisions. Betsson differs from many of the more acquiescent online casinos when it comes to the grey areas of the European Union laws, and has remained steadfast in their stance, even after the Stockholm incident. In spite of, or perhaps in defiance of Swedish gaming practices, Betsson opened a land-based betting store in Stockholm, despite warnings and threats issued by local gaming authorities. The police followed through with fines and an open investigation to the legality of such an establishment, but through it all, Betsson has only insisted on their rights within the EU, both dutifully paying the applicable fines, but refusing to close the operations. With positive changes tentatively ahead in regards to Swedish law and regulations, it may have all turned out just as planned.