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Fourth quarter growth helps Betting Promotion

Sportsbetting solutions supplier saw net turnover after trading fees for 2012 rise by over 42.6 percent year-on-year to €5.028 million.

Wednesday 27th February 2013

Sportsbetting solutions supplier Betting Promotion Sweden AB has seen net turnover after trading fees for the whole of 2012 rise by over 42.6 percent year-on-year for 2012 to €5.028 million while its annual operating income improved by over 20 times to a deficit of €57,000. The Swedish betting exchange markets-maker reported income from continuing operations for 2012 in the red to the tune of €116,000, which was considerably better than last year’s deficit of €1.111 million, while its operating margin grew from minus 61 percent to minus two percent. Betting Promotion announced that operating income for the final quarter of the year improved by over 182 percent to €550,000 while the three-month cycle saw income from continuing operations improve by 43.6 percent when compared with the same period in 2011 to €464,000. Net turnover after trading fees for the fourth quarter amounted to €1.654 million, which was 41 percent boost year-on-year, while betting turnover fell by just over five percent to €185,854. “It is satisfactory to see the improvement in results during the fourth quarter following a slow start of the year,” said Jonas Ornstein, Chief Executive Officer for Malmo-based Betting Promotion. “I am also glad to see the growth we have with our bookmaker clients.”

Source: OnlineCasinoNews

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