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“According to Coljuegos’ numbers, casinos’ growth levels are above 100%, which is why it’s very important for us to compete in the market.” Santiago Melo, General Director, Colbet
The news was aired by Colbet general director Santiago Melo in an interview with local news outlet La Republica in which he also said the sports betting vertical that contributes to around 80% of the operator would continue to dominate.
Melo also outlined soccer, tennis, and basketball as the sports forming Colbet’s most popular betting markets, singling out soccer as the most important sport in the country and the region in anticipation of this year’s FIFA World Cup that would add extra stimulus for fans and bettors.
“Football is still the most popular sport, it’s led by passion and it’s what’s going to help us once the Liga Colombiana returns to activity.”
Santiago Melo, General Director, Colbet
Referring to the company’s online casino product, Melo said the vertical would expand its contribution to around 20% of the group’s total revenue, driven by the upcoming launch in Colombia. Colbet received approval from the country’s gaming regulator Coljuegos in 2017 to become the fourth legally licensed iGaming firm in the country.
“According to Coljuegos’ numbers, casinos’ growth levels are above 100%, which is why it’s very important for us to compete in the market.”
Santiago Melo, General Director, Colbet
Melo also noted that the expansion of the company’s online casino offering to around 400 game titles from a previous 25 would further boost its iGaming presence. Colbet significantly expanded its product offering after considerations it was not enough to attract players and enable the brand to pursue its growth strategy.
Enjoy sports betting and online gambling at ColBet casino now. To register an account, enter the website, and follow the steps on the registration page. During registration, you need to provide basic information like name, location, email, password, and other credentials.
The ColBet Sportsbook and Online Casino Games
ColBet Sportsbook and Online proveedores de juegos de casino is the newest and improved gambling site from the makers of Betsson. As you might not know, Betsson is one of the world’s leaders in sports betting and has branched out to many gambling sites, thus the birth of ColBet.
Betsson has also been around for 50 long years, which started as a physical casino in Colombia. Then venturing out to online casinos as well. With the golden years of reigning the casino scene, it is no surprise that ColBet is the next big thing.
If you get the chance to navigate ColBet, you’ll immediately notice the highly functional site, interactive features, sleek design, and aesthetic vibe. Aside from its external facade, Betsson has made many significant improvements as well. The notable ones are the added payment methods, faster interface, and many selections of slot machines and ruleta games found on the site.
As ColBet has been establishing its name for several years now, they are growing. They have proven to million users that they are becoming the next big gambling giant in Colombia and many other countries. It has become one of the best portals for online gambling and sports betting. Furthermore, the Colombian market has recognized ColBet as one of the top gambling sites in the country.
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Colbet sportsbook
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After several records during the previous quarter, we managed to increase revenue by just over 3 per cent during the third quarter, compared with the corresponding quarter last year, which was a very strong quarter. At that time, the strong increase in revenue was driven by a surge in demand for digital entertainment. The further increase in revenue is explained by the successes with our sportsbook in combination with good results in the ending rounds of the EURO 2020 and CONMEBOL Copa América and the return of the domestic football leagues from mid-August. All in all, this has resulted in sportsbook revenue increasing by approximately 24 per cent year-on-year. The increase in revenue has also benefited from successes in new markets such as LatAm, Croatia and Greece.
Colbet sportsbook
Yet another strong quarter driven by the sportsbook
QUARTER JULY – SEPTEMBER 2021
- Group revenue was SEK 1,733.3 (1,676.7) million, an increase of 3%. Organic increase of 8%.
- Casino revenue decreased by 2%. Sportsbook revenue increased by 24% and the sportsbook margin was 7.9% (7.0%).
- Operating income (EBIT) was SEK 323.6 (329.1) million, a decrease of 1.7%, the EBIT margin was 18.7% (19.6%).
- Net income was SEK 287.4 (290.6) million, corresponding to SEK 2.22 (2.22) per share.
- Operating cash flow was SEK 423.5 (494.6) million.
- Active customers increased by 7% to 986,429 (920,045).
- Acquisition of Inkabet and investment (28%) in Slapshot Media Inc.
“Yet another strong quarter driven by the sportsbook”
After several records during the previous quarter, we managed to increase revenue by just over 3 per cent during the third quarter, compared with the corresponding quarter last year, which was a very strong quarter. At that time, the strong increase in revenue was driven by a surge in demand for digital entertainment. The further increase in revenue is explained by the successes with our sportsbook in combination with good results in the ending rounds of the EURO 2020 and CONMEBOL Copa América and the return of the domestic football leagues from mid-August. All in all, this has resulted in sportsbook revenue increasing by approximately 24 per cent year-on-year. The increase in revenue has also benefited from successes in new markets such as LatAm, Croatia and Greece.
Against the background of strong development this year, it was unfortunate that the Dutch Gaming Authority unexpectedly published a new policy at the end of September that entails a deviation from the previously communicated guidelines during the cooling off peri-od. The new policy implies that operators who are waiting out the cooling off period is forced to cease operations completely, pending an obtained license. Based on the new policy, Betsson decided to temporarily stop accepting Dutch customers on international websites in order to create good conditions for the upcoming licensing process. Betsson continues to have strong faith in the Dutch market and an ambition to be able to conduct business in the future in accordance with the new regulations. The efforts to prepare the license applications and preparations for certifying our technical platform in the Dutch market are ongoing. The application is expected to be submitted no later than at the end of the first quarter 2022 in connection with the end of the cooling-off period. The outcome of the application process is expected to be communicated after the summer of 2022 and I then hope our position in the Netherlands gradually can be regained thanks to strong brands and an organization with good local knowledge.
Continued investments in the US
The investments in the US market to be able to launch our B2C offerings in Colorado during the first quarter of 2022 continue according to plan. This quarter has been an intense period to secure everything from meeting the authorities’ reporting requirements to adapting the platform and technology so that the US-adapted sportsbook can enter a testing and certification process. The sportsbook has also been integrated into the Strive platform, which has now been certified in the state of Colorado. The fact that the Strive platform is certified will benefit us during the testing and certification processes that are initiated now.
Strengthening Betsson through acquisitions
During the quarter, we acquired Inkabet’s B2C business. Inkabet is a fast-growing sportsbook and casino business aimed at the western region of South America. The acquisition further strengthens and expands our presence and position in the Latin America region and builds on the previous acquisitions of JDP Tech Ltd, Suaposta, and Colbet. We have also invested in the Canadian startup company Slapshot Media Inc by acquiring 28 per cent of the shares. The investment in Slapshot Media Inc means a partnership with local Canadian expertise that enables Betsson to create a strong position in the Canadian market ahead of the upcoming regulation in Ontario. Strengthening our business through acquisitions is an important component of our strategy and it has been a successful way to create growth but also to build competence in the organization. In this way, a dynamic business is created that also positively impacts existing operations.
A strong team paves the way for future success
An important guiding star for my leadership has always been to drive the company towards the goals set for it, regardless of obstacles along the way and I intend to continue according to that. We have built a very strong and competent team at Betsson and I look forward to continuing to build the company even stronger in the future.
PRESENTATION OF THE INTERIM REPORT
At 10:00 CEST today 26 October, Betsson invites analysts, investors and media to participate in the results presentation of the third quarter. The results will be presented by CEO Pontus Lindwall and CFO Martin Öhman. The presentation will be held in English, followed by a Q&A session. Participants are welcome to join via the link or phone, see details below.
Dial-in numbers:
Sweden: +46 8 50 55 83 66
UK: +44 33 33 00 92 69
US: +1 631 913 1422 PIN US: 79535039#
This information is information that Betsson AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 07:30 CEST on 26 October 2021.
For further information, please contact:
Pontus Lindwall, President and CEO Betsson AB
pontus.lindwall@betssonab.com
About Betsson AB
Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, and with local adaptations. Betsson AB is listed on Nasdaq Stockholm Large Cap (BETS).
The new Betsson Mexico brand will offer customers online casino, live casino and localised sportsbook products with a range of markets and offers.
This marks the operator’s latest effort to expand its presence across the South American market.
The joint-venture with Big Bola
The joint venture between Betsson and Big Bola will see the Mexican gambling operator carry the new Betsson Mexico sports betting and igaming brand.
The new Betsson Mexico brand will offer customers online casino, live casino and localised sportsbook products with a range of markets and offers.
Big Bola is one of the fourteen federally approved SEGOB gambling operators in Mexico. The operator is also recognised as one of Mexico’s leading gambling businesses.
The Mexican gambling giant operates 20 land-based casinos across the Mexican state provinces of Santa Fe, Veracruz, Puebla, Sinaloa, and Mexico City DF.
Once the deal is finalised, Betsson and Big Bola aim to launch the Betsson Mexico brand by the end of the trading year.
Emilio Quiros, Director of Operations for Big Bola, said: “We are happy that Betsson Group has chosen to partner with us for their operations in Mexico. We believe that our market expertise and their knowledge and experience about online gaming will result in an outstanding product for Mexico.”
Jesper Svensson, CEO of Betsson operations, added: “This is yet another expansion into the LatAm region which we see so much potential in. As we have done in Brazil, Colombia, and the Province of Buenos Aires in Argentina, we are teaming up with a local partner that lives and breathes the local culture.
“We are really excited to start this collaboration with Big Bola as we believe they are well suited to help us understand the market better and ensure that our offering not only fits the Mexican culture but also earns the public’s trust. Our vision is to provide the best customer experience in the industry and I’m confident that we will manage to replicate this success in Mexico too.”
Betsson’s South American expansion
During 2020 trading Betsson AB made significant efforts to expand its presence in South America.
Following its acquisition of ColBet last year, Betsson launched its new brand Betsson Colombia brand.
Last year, the operator also established new business ventures for the impending launch of the regulated Brazilian and Buenos Aires provinces igaming markets.
Regarding its efforts to expand its Mexican presence, Betsson has also stated that it has incorporated a goodwill fund for its market duties which will be maintained under the BetssonOne corporate social responsibility trust.
The operator plans to replicate elements from recent market launches in Colombia and Kenya by maintaining safer gambling messaging and operator conduct in Mexico.
Strong of FADJA organizers’ experience, 3a Producciones, the event will be held at the famous touristic destination of Hotel Estelar in Cartagena de Indias, Colombia, on 21st, 22nd and 23rd November for the cut of the first ribbon of this event.
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