Betting Promotions Net Turnover Down

24 October 2008

Betting Promotions Sweden A.B., an online betting exchange, posted a net turnover of 31 million Swedish kronas its interim report covering January through September 2008. For the same period in 2007, its net turnover was 50.5 million Swedish kronas.

Although net turnover was down, betting turnover was slightly up at 7.9 million Swedish kronas. Last year it was reported at 7.6 million Swedish kronas.

The company also posted an operating income at 14.9 million Swedish kronas and an operating margin of 48 percent. In 2007, the operating income was 38 million Swedish kronas and the operating margin was at 75 percent.

“The trials to find optimal parameters for our existing gaming models produced positive results,” said John Moazed, Betting Promotion’s managing director, in the report. “Based on these findings, changes were implemented gradually during the second and third quarters, and I am now looking forward to tracking the results in the important fourth quarter.”