Pontus Lindwall: Geographical expansion key to 2022 success

Betsson AB CEO Pontus Lindwall has said the foundation of the operator’s 2022 growth will be in its continued geographical expansion as it looks to capitalise on a positive Q1.

Speaking following the company’s AGM, Lindwall detailed how the group’s global expansion plans would continue, having recently gone live in the US via its Betsafe sportsbook after a two-year development cycle.

The Stockholm-listed operator also bolstered its presence in Latam after launching in Buenos Aires, as well as acquiring Inkabet in August 2021.

Lindwall said: “The foundation of Betsson’s success in 2022 and beyond will continue to be our geographical spread, scalable and flexible technical platform and our competent employees.

“Our goal of expanding our presence in North America is going to plan. We are further developing the B2B business and are in the process of acquiring our licence in Ontario. We also plan to go live in Mexico,” he added.

Lindwall also reaffirmed his commitment to returning to the Netherlands following its departure prior to the market’s regulation on 1 October 2021.

In its Q1 report, Betsson noted a decline of 43.5% in revenue across Western Europe to €22.2m from €39.83m for the same period last year, driven by its absence from the Netherlands.

He explained: “We will continue to invest in new markets and execute them according to our strategy. We also maintain our ambition to operate in the Dutch market in accordance with new regulations.”

Elsewhere, Lindwall praised the strength of Betsson employees, and doubled down on his commitment to supporting those in Ukraine following the Russian invasion.

The firm has already moved Betsson-contracted developers to Malta and Budapest, as well as to less dangerous areas of their home country.

Lindwall said: “Finally, the health and safety of our people remains a priority to us. I’m proud of how [our employees] handled yet another year in the pandemic, combined with a very serious geopolitical situation.

“We are monitoring the war in Ukraine and taking necessary measures to ensure the wellbeing of employees and partners there,” he concluded.

Lindwall thanked shareholders for their “continued confidence and trust” and noted plans were firmly in place for the company to continue to grow.

Betsson’s share price was up 1.9% to SEK64.74 at the time of writing .