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Nordic Leisure posts annual profit

Scandinavian online gambling operator saw total revenues for 2012 rise by over 30 percent year-on-year to $15.84 million.

Tuesday 26th February 2013

Swedish online gambling operator Nordic Leisure AB has released its financial results for 2012 showing that it achieved a 30.8 percent rise year-on-year in annual revenues to SEK101.8 million ($15.84 million). Formerly known as Redbet Holding AB and the firm behind the,,,, and domains, Nordic Leisure revealed that its operating profit for the twelve-month period grew to SEK8.9 million ($1.38 million) from 2011’s deficit of SEK3.5 million ($544,922) while player deposits swelled by 22 percent year-on-year to SEK385.2 million ($59.97 million). The Stockholm-based firm additionally added just over 105,000 new player accounts during the course of 2012 to bring its total as of December 31 to 394,365 with 49,604 of these joining during the fourth quarter. All of this saw Nordic Leisure record a gross profit after tax for 2012 of SEK73.7 million ($11.47 million), which was up by over 35 percent year-on-year, while its overall profit after tax improved by 248.8 percent when compared with the same period in 2011 to SEK6.7 million ($1.04 million). “During the fourth quarter our work within the group continued with the goal of putting the customer first, focussing on improved product offerings and superior customer service,” said Claes Hallen, Chief Executive Officer for Nordic Leisure. “Further during the quarter, we opened Latvia's first licensed Internet casino” “The final quarter saw operating revenues of SEK28.2 million ($4.39 million) with an operating profit of SEK4.7 million ($731,952). “Our revenues from casino gambling accounted for over 50 percent of the total revenues in the fourth quarter [while] betting accounted for almost 32 percent and poker 18 percent.”

Source: OnlineCasinoNews

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