CEO letter Aug 2018
Dear Shareholders,
After the H1 report that was released on Friday, 24th of August 2018 many shareholders have contacted us with different questions. With this CEO letter I will try to answer some of those questions.
The translation between the English and Swedish reports resulted in some ambiguity. We at Goldblue AB apologize for that and will do our best to avoid this type of situation in the future.
In 2017 we had a presence in two markets (the Chinese and the Japanese speaking markets). In 2018 we have as a strategy to enter into other emerging markets. The implementation of this strategy meant the launch towards the Vietnamese and Indonesian speaking markets in 2018.
At the end of Q2 2018, 81% of our revenue was from the Chinese speaking market and 19% from our other markets. With the newly added emerging markets our ambition is that by the end of 2018 the revenue proportion of these markets will grow to about 25% to 30% of our total revenue. This does not mean that we put less effort into the Chinese speaking market, rather that we are expanding in the South East Asia region.
Regarding the Chinese speaking market we have experienced some instability in the first six months of 2018. These were uncontrollable factors and mainly due to local political instability which has caused some agents to exit the market. This has created some disturbances for our operations. We are and have been addressing these issues.
On the tech side we have invested in our new front-end technology is already implemented in our products. We believed that this new front-end interface will make us more attractive to the players on the markets we are in. Sportsbook remains a priority to us since it is a popular product in South Eastern Asia and the integration is about to be finalized.
All of us working at the Goldblue AB group are highly motivated and our ambition is to create long-term value for our shareholders.
Warm regards,
Andre Rodrigues, CEO
Goldblue AB
E-mail: ir@goldblue.eu
Tel: +46 (0)8 559 25 266
GoldBlue AB is a Swedish listed investment company within the iGaming business with focus on growth markets in Asia.