Entain-owned Polish bookmaker STS Group has reported a 14 per cent increase in revenue to PLN299 million (€65 million) for the first half of 2023.
Total amounts wagered rose by 5 per cent year-on-year to PLN2.30 billion, despite the operator terminating its international operations in the United Kingdom and Estonia to fully focus on the Polish market.
STS had 412,000 total active users during the half-year period, with 109,000 new registrations and 72,000 new first time depositors.
As a result of the strong revenue growth, the company’s adjusted EBITDA rose 35 per cent versus a year ago to PLN157 million, with net profit for the first half climbing 57 per cent at PLN97 million.
“In the second quarter of this year, we continued to optimise processes within the STS Group,” said STS president Mateusz Juroszek. “Therefore, in H1 of the year we significantly improved both the financial result and the adjusted EBITDA, which increased by 57 per cent and 35 per cent year-on-year, respectively.
“We assume that in the second half of the year the activity of our players will be higher, which should have a positive impact on our operational and financial indicators.”