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Betsson proposes re-election of directors

| By Robert Fletcher
Betsson has announced that its nomination committee has proposed re-electing all current directors, including Johan Lundberg as chair of the board.
Aristocrat Primmer

The proposal will be one of several put to shareholders at the Betsson AGM on 7 May 2024. It will be recommended they vote in favour of the re-appointment of all directors.

Eva de Falck, Peter Hamberg, Eva Leach, Pontus Lindwall, Louise Nylén and Tristan Sjöberg all currently serve as directors. Lundberg is also a director and holds the role of chair of the Betsson board.

Shareholders at the meeting in May 2024 will also consider a measure to increase board fees. It is proposed that these fees will be raised by 10%, having remained unchanged since 2021.

In his capacity as chief executive, Pontus Lindwall, will not receive any board fees.

The Betsson nomination committee comprises Jenny Rosberg, Ingela Kling and Mats Axell.

Betsson sets quarterly revenue record in Q3

The proposals come on the back of a successful year for Betsson, boosted by a record Q3. The operator reported revenue of €237.6m (£205.9m/$260.0m) in Q3, in what was the third consecutive quarter of record revenue.

Other Q3 highlights included €56.0m in earnings before interest and tax, a 45.8% rise from last year and another new record. Pre-tax profit hit €50.8m, up 44.7%, while net profit hiked 41.7% to €46.2m.

In addition, EBITDA for the quarter was 41.8% higher at €68.9m.

As for wider developments, Betsson recently completed its acquisition of BetFirst Group. It purchased Belgium-based BetFirst in June, with Q3 being the first full quarter that it was part of the Betsson business. 

It has also secured a new online casino licence in Serbia as well as an online sports betting licence in France. However, there will be no return to the Netherlands for the time being after the business withdrew its igaming licence applications following multiple delays to the certification process.

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