Betsson Wins Growth Ranking AccoladeBusiness Week Ranks Swedish Gaming Company 114th Fastest Growing Company In Europe |
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Respected business magazine Business Week magazine has ranked Swedish betting company Betsson the 14th fastest growing company in Europe in its annual European Hot Growth ranking.
The company, which was established in 1965 as a land- and sea-based casino operator branched out into online gaming in 1996 and now offers online poker, sportsbook, bingo, slot machines, casino games, and financial bets.
The magazine says that while revenues were a modest $20 million in 2005 by 2007 they had leapt to $82 million and could soar to $150 million next year.
Cost control has been a key element of its growth with personnel costs down from 19 percent in 2006 to 10 percent in the most recent financial reporting quarter. While marketing costs, at 34 percent, are significantly below the industry average. As a result operating margins are an “enviable” 30 percent according to Business Week the company continues to set new trading records as recently as the last quarter.
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