Swedish betting company Betsson, which was earlier this year ranked by business magazine Business Week as the 14th fastest growing company in Europe, has released its full year report for 2008.
Despite an overall increase in revenue, the company which offers online poker, sportsbook, bingo, slot machines, casino games, and financial bets, has seen its figures for poker fall dramatically with no hint of improvement.
Poker accounted for 16 percent of Betsson’s total gross profit for the fourth quarter of 2008, a slim figure when compared to that of the same period the year previous, which was more than double with 34 percent.
Poker’s share of total gaming activities fell from 38 percent in 2007 to 19.1 percent in 2008, and gross profits for poker also saw a decline from SEK193 million in 2007 to SEK158.5 million in 2008. 
The fourth quarter of 2008 was Betssons’ strongest ever however — revenues rose 69 percent to SEK321.1 million from SEK189.8 million of Q4, 2007. Overall, revenues rose 60 percent year-on year from SEK649 million to SEK1,037.8 million.
Casino is Betsson’s biggest product and has continued to do well, with the latest quarterly growth of 27 percent, and an increase of gross profit year-on-year from SEK254.2 million in 2007 to SEK481.3 million in 2008.
In 2008, casino made up for 58.1 percent of overall gaming activities, an increase of 8.1 percent from 2007.
Pontus Lindwall, Bettson’s President and CEO said, “We have experienced full on growth during the quarter and the whole year, with increased activity recorded at all Betsson’s websites. We are planning for strong continued growth, and do not as yet see any signs of stagnation.”
