Betting Promotion Sweden AB, a sportsbetting solutions supplier, has launched a trading update which covers the fourth quarter of 2012 and mentioned that the three-month period saw it accomplish ‘strong growth’ in its business-to-business operation.
The Swedish betting exchange markets-maker stated that its business-to-business operation saw its gross margin boost from 1.10 percent to 2.41 percent while it also accomplished improved margins and profits for its own proprietary trading business.
Newly appointed Chief Executive Officer for Betting Promotion, Jonas Ornstein said “The company has been left in very good shape following the recent departure of former Chief Executive Officer Johan Moazed and I wish to thank him for all his efforts over the last ten years,”
The Swedish firm said that its fourth quarter results highlighted an overall margin of 0.89 percent, which represented a 48 percent year-on-year increase, derived from ‘improved trading systems and selective markets’.
A statement from Betting Promotion said “Sales of the business-to-business bookmaker product have also shown substantial growth with a portfolio over 20 clients currently launched and in development,”
“The group reports an increased quarter-on-quarter betting turnover of 94 percent for the business-to-business product.”
Included in the recent management reshuffle, Betting Promotion said that Robert Wintersteller was promoted to serve as the firm’s Product Manager while Lars Berglund moved to Market Manager. The new management system also sees Richard Hogg retain his position as Chief Marketing Officer overseeing the firm’s sales, marketing and business development activities while Oliver Zammit heads up finance and human resources duties as Chief Financial Officer.
Hogg said “I am delighted to have seen such growth in the organisation and look forward to presenting an even better product in the coming months,”
“Everyone should know this is our ten-year anniversary so we are determined to still be growing in another ten years.”