{"id":39,"date":"2024-06-12T00:27:45","date_gmt":"2024-06-11T21:27:45","guid":{"rendered":"https:\/\/luckylegendsnodepositbonuscodes2024.icu\/2024\/06\/12\/betsson-caps-off-2023-with-strong-earnings-and-profit-growth\/"},"modified":"2024-06-13T12:15:57","modified_gmt":"2024-06-13T09:15:57","slug":"betsson-caps-off-2023-with-strong-earnings-and-profit-growth","status":"publish","type":"post","link":"https:\/\/luckylegendsnodepositbonuscodes2024.icu\/2024\/06\/12\/betsson-caps-off-2023-with-strong-earnings-and-profit-growth\/","title":{"rendered":"Betsson Caps Off 2023 with Strong Earnings and Profit Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/8BJnwqoyd5o\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A prominent online gaming firm, Betsson, has announced a robust conclusion to 2023, with both earnings and profits demonstrating substantial expansion in the final quarter and the entirety of the year.<\/p>\n<p>In the last quarter of 2023, Betsson generated \u20ac251.9 million (equivalent to $270.3 million), a 14% increase compared to the corresponding period in the preceding year. This remarkable accomplishment was driven by a significant 36% surge in inherent revenue. Although casino revenue witnessed a 25% rise, sports wagering revenue experienced a minor decline of 5%. This dip was partly attributed to the fervor surrounding the FIFA World Cup in the prior year, which naturally provided a transient boost.<\/p>\n<p>Notwithstanding the slight decrease in sports wagering, Betsson&#8217;s profitability soared. Earnings before interest, taxes, depreciation, and amortization (EBITDA) escalated by an impressive 40% to \u20ac71.9 million, while operating income (EBIT) ascended 42% to \u20ac57 million. The company&#8217;s net income for the quarter reached \u20ac43.3 million, with operating cash flow amounting to \u20ac47.6 million. However, the count of active users observed a 6% reduction to 1,345,129, indicating certain shifts in customer patterns that Betsson will likely examine meticulously.<\/p>\n<p>Examining the full year, Betsson&#8217;s revenue underwent a healthy 22% expansion, reaching \u20ac9.482 billion. EBITDA witnessed a remarkable 52% surge to \u20ac2.627 billion, while operating income (EBIT) rose by a substantial 60% to \u20ac2.105 billion. The company&#8217;s net income for 2023 reached \u20ac1.73 billion, translating to earnings per share of \u20ac1.29. Operating cash flow for the year totaled \u20ac2.304 billion.<\/p>\n<p>Encouraged by this triumph, Betsson&#8217;s board of directors has put forward a significant 48% increase in dividends, bringing it to \u20ac0.645 per share. Pontus Lindwall, CEO of Betsson AB, conveyed his confidence in the future, remarking, &#8220;I am optimistic about 2024.&#8221; <\/p>\n<p>Betsson is exceptionally well-placed for ongoing expansion.  They possess a very strong financial base, leading-edge tech, and a highly committed workforce.  A major thank you to their staff for their efforts in 2023, and naturally, a big thanks to their devoted investors.<\/p>\n<p>Their dedication to responsible gaming recently garnered them the esteemed &#8220;Socially Responsible Global Gaming Operator of the Year&#8221; accolade.  Furthermore, watch for a Huddle discussion with Betsson&#8217;s executive team, filmed live at the latest ICE London gathering.<\/p>\n<p>Even with all this positive news, there was a slight decrease in Betsson&#8217;s share value this morning, dropping approximately 7%. The market&#8217;s response to their earnings statement has been varied, which is not entirely surprising following an earnings announcement.  Investors are certainly paying close attention to future developments, particularly with the suggested stock repurchase program and the dividend declaration based on these robust outcomes.<\/p>\n<p>Regarding those outcomes, Betsson generated \u20ac237.6 million in income during Q3 2023, expanding on their achievements and reaching \u20ac251.9 million in the final quarter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A prominent online gaming firm, Betsson, has announced a robust conclusion to 2023, with both earnings and profits demonstrating substantial expansion in the final quarter and the entirety of the year. In the last quarter of 2023, Betsson generated \u20ac251.9 million (equivalent to $270.3 million), a 14% increase compared to the corresponding period in the [&hellip;]<\/p>\n","protected":false},"author":98,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Betsson Reports Record Earnings &amp; Profits in 2023 | Online Gaming<\/title>\n<meta name=\"description\" content=\"Betsson, a leading online gaming company, announces impressive earnings and profit growth in Q4 and full-year 2023. 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