Scout Gaming shares soar on ATG deal in Sweden22nd February 2021 10:30 am GMT
Stockholm-listed daily fantasy sports provider Scout Gaming has entered Sweden’s regulated iGaming market for the first time through an agreement with Sweden’s AB Trav & Galopp (ATG).
Scout Gaming will soft launch its offering on ATG.se during the second quarter of 2021, followed by a wider marketing push in the third quarter, in time for the start of English Premier League and other major European sport leagues.
“I’m very excited to have the privilege of launching our fantasy sports product on ATG.se, thus reaching a wider potential player base than ever before,” said Scout Gaming chief commercial officer Joakim Renman. “ATG has in a short time proven to be very agile in its expansion into new products, therefore not a surprise when they now are first to seize the opportunity of being early mover in a fast-expanding trend within fantasy sports.”
ATG head of sports betting Christian Erlandsson commented: “We try to constantly offer our customers exciting new experiences and are keen to add fantasy sports as, what we hope will be, a key vertical offering for ATG moving forward.
“We have watched this game format grow in popularity around the world and believe that Swedish customers will also appreciate this exciting product. With our almost 50-year legacy of offering pool games and recent expansion into sports betting we believe that we have primed for a successful rollout of daily fantasy sports to the Swedish sports audience.”
The agreement is expected to have a “moderate to high” impact on Scout Gaming’s revenue from the second half of 2021 onwards.
Shares in Scout Gaming Group AB (STO:SCOUT) soared by 9.89 per cent to SEK60.00 per cent in Stockholm Monday morning following the announcement, hitting a new 52-week high of SEK65.00 per share.