STS posts 12.7% year-on-year slump in NGR for Q2 2022
Warsaw-listed firm blames dip on postponed Euro 2020 as several key metrics drop off in the second quarter of the year
Polish bookmaker STS has recorded a 12.7% year-on-year fall in net gaming revenue (NGR) to PLN138m (£24.7m) for the second quarter.
The decline was primarily blamed on tough comps due to the fact the postponed Euro 2020 football tournament was played partly in Q2 2021.
Meanwhile, the number of active users slid 10.1% YoY from 417,000 to 375,000, while new registrations dived 22.7% YoY. Of those new registrations, 71.7% deposited for the first time, which is just under three percentage points better than Q2 2021.
One positive to come out of the Q2 results was a PLN111m increase in amounts staked compared to Q2 2021.
As for H1 2022, STS generated NGR of more than PLN296m, which was slightly up from last year. However, there is no exact figure for H1 2021 as the company was not publicly listed until December 2021.
The total amount staked was PLN2.2bn, a slight decrease from last year’s total of PLN2.22bn. Again, this decrease was attributed to Euro 2020.
The H1 figures were boosted by record numbers for the firm for Q1 2022 including NGR of over PLN158m, a 15% YoY increase.
Mateusz Juroszek, STS Holding CEO, said: “In the first half of this year, we achieved very good operating results.
“It is worth noting that in 2021, Euro 2020 was played. In the second half of this year, we hope that the very attractive calendar of sports events and the World Cup in Qatar will allow us to develop even better operating indicators, which will also positively translate into financial results.”
The Warsaw-listed company, which claims to be the largest bookmaker in Poland based on turnover, also disclosed its continued focus on developing a “mobile-first strategy” based on proprietary technology.
Following the results announcement, STS shares rose 1.7% to PLN13.64.