gambling

No Financial Crisis for Swedish Betting Solutions Supplier

Betting Promotion is upbeat as Q4 figures show growth in sales volume and revenue.

Internet betting in Sweden - GamingZion

Legions of companies and even whole industries may be feeling the squeeze of the seemingly never ending financial crisis, but Betting Promotion are definitely not letting themselves be kept down by it, as this latest bit of online gambling related news from Sweden demonstrates.

Celebrating their 10th anniversary, the Malmo based sports betting solutions supplier and betting exchange markets-maker has just released some numbers for Q4 2012, all pointing to a healthy growth in B2B operations with gross margin jumping from 1.10% to 2.41%. Betting Promotion’s own proprietary trading business has also witnessed better margins and profits during the last 3 months of the year.

The company added that B2B bookmaker product sales “have also shown substantial growth with a portfolio over 20 clients currently launched and in development. […] The group reports an increased quarter-on-quarter betting turnover of 94 percent for the business-to-business product.” Clients come from all across the world, but internet betting in Sweden itself is a state monopoly.

Noting that Q4 2012 results had an overall margin of 0.89%, representing a whopping 48% increase since Q4 2011, Betting Promotion executives attributed it to “improved trading systems and selective markets”. Looking at the figures, CMO Richard Hogg’s optimism was not unrealistic, when he expressed his resolve “to still be growing in another ten years.”

Betting Promotion has recently undergone some management changes as well, with Robert Wintersteller becoming the company’s Product Manager and Lars Berglund being appointed to Market Manager. Remaining in their previous positions are CMO Richard Hogg and CFO Oliver Zammit.

A new CEO was also picked, with Jonas Ornstein replacing Johan Moazed who had stepped down after 10 years at the helm.

Betting Promotion is registered in Sweden and subject to Swedish gambling laws and other applicable legislation. Founded in 2003 to manage risks and liquidity to bookmakers and betting exchanges, the company’s offerings include both pre-game and live betting.

Discuss No Financial Crisis for Swedish Betting Solutions Supplier | User Rating