Swedish Sportsbook Steady
January 7, 2009 (InfoPowa News) — Given the prevailing tight economic conditions, news of even small gains is welcome, and Swedish sportsbook Betting Promotion delivered that during the week, reporting steady Q4 numbers that inluded gaming turnover of SEK2.6 million (£218,000) and a net turnover of SEK29 million (£2.4 million), which delivered a gross margin of 1.12 percent, up from 0.69 percent in Q4 2007.
Johan Moazed, the managing director of the company, observed: "The gross margin for the quarter was highly satisfactory and shows that the changes that were implemented gradually during the second half of the year have had the desired effect.
"The lower gaming turnover was mainly due to these changes. The changes have had the effect of minimizing trading activity which increased risk without necessarily increasing profit. The 'Live' segment also showed an improved gross margin which gives us the confidence that we are on the right track."