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Betsson shares rally on Q3 results despite fall in profit

29th October 2012 8:59 am GMT

Swedish online gaming operator Betsson has reported a 14 per cent year-on-year increase in third quarter revenues to SEK529.5m, aided by contributions from the recently acquired Nordic Gaming Group and Betsafe.

The company said Friday that gross profit for the period amounted to SEK438.7m, an increase of 12.7 per cent versus Q3 2011. Operating income fell however, by 21.4 per cent to SEK120.0m, as a result of a seasonally low sportsbook margin of 5.5 per cent [...]

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