Stockholm-based online gambling group Betsson AB has announced its financial results for the first quarter of 2009 showing a 38 percent year-on-year increase in revenues to $39.14 million

The Swedish firm reported late last year that its results for the third quarter of 2008 had been its ‘strongest so far’ with a 52 percent year-on-year increase in revenues to $31.98 million.

For the period from January to the end of March, Betsson revealed that its operating income improved by 45 percent to $10.22 million from $7.04 million while income before tax rose by 44 percent to $10.29 million from $7.13 million.

It stated that income for the period totalled $9.78 million, which was 47 percent higher than the $6.65 million it reported for the first quarter of 2008, while its cash was up from $34.15 million last year to $54.21 million.

'All of Betsson's websites have continued to develop strongly,” said Pontus Lindwall, President and Chief Executive Officer For Betsson.

“The healthy customer activity and deposits during the first quarter cement a continued good growth during the year.'


Source: iGamingBusiness.com