STS Group posts 12% year-on-year increase in NGR in Q1 2023

STS Group has posted a record Q1, with net gaming revenue (NGR) rising 12% year on year (YoY) to PLN175m (£32.98m).

This figure however does come with the caveat that it excludes Estonia and UK operations, after the group pulled out of those markets as it looked to refocus its attention on its native Poland.

The bookmaker’s gross gaming revenue (GGR) also rose 9% YoY, reaching PLN305m.

STS confirmed there were 57,000 new customer registrations in the first quarter of the year, an increase of 1% from 2022, with the number of customers making their first deposit amounting to 37,000 – a small rise from the 35,000 posted last year.

The number of active users with the operator fell 4.9% from 350,000 in Q1 2022 to 333,000 in Q1 2023.

The amount staked with the operator in Q1 2023 was PLN1.193bn, a 16% increase on the PLN1.026bn recorded in 2022.`

Mateusz Juroszek, president of the management board of STS Group’s parent company, STS Holding, said: “In line with our expectations, in Q1 2023 we achieved very good operating results. We recorded significant increases in key indicators related to our business.

“STS customers remain strong and willing to place bets. In addition, a significant proportion of players acquired during the World Cup are highly active. We hope that in the coming months, we will continue to effectively activate our extensive customer base, which is still growing,” Juroszek added.

These results are the second-best-ever quarter for the Polish operator and followed on from its record quarter in Q4 2022, which saw NGR hit PLN200m

Following the announcement, STS Holding’s share price at the time of writing is PLN19.78, up 2.47%