Scout Gaming publishes Q1 2020: Revenues increased 149% to mSEK 8.7
”We started the year at a high pace and maintained good momentum from the fourth quarter last year. Revenues increased by 149% to SEK 8.7 million, while all profit measures compared to corresponding quarter previous year continued to improve. In mid-March, however, like many parts of the world, we experienced an abrupt halt because of the global outbreak of COVID-19.
Since we control the entire production chain ourselves, from the technical platform, statistics, pricing to graphic design, we have succeeded in providing a competitive product even though the sports calendar has appeared very different in recent months. In addition, with a dedicated team, we have continued to deliver lots of playable events where most of our volume since the beginning of April originates from Esport-related markets.
We have previously stated that we expect from Norsk Tipping a ‘significant impact’ on our revenues, this is still valid and is expected according to the current assessment of the sports calendar, to be realized during the second half of the year.”
Extract from CEO Andreas Ternstrom’s commentary to the Interim Report.
Quarter: January - March 2020
• Revenues increased to mSEK 8.7 (3.5), corresponding to a growth of 149% compared to same quarter last year
• EBITDA improved to mSEK -11.7 (-14.7)
• Net result improved to mSEK -9.8 (-16.1)
• Earnings per share amounted to SEK -0.6 (-1.2)
• Operator trading index (which illustrates the underlying client activity) increased to 1004 (549), a growth of 83%.
• Scout Gaming conducted directed share issues corresponding to approximately mSEK 36 towards institutional and industrial investors. Subscribers were Topline Capital Management, Tekkorp LLC, Enlabs AB (publ), Knutsson Holdings AB, and Novobis AB among others.
• Scout Gaming will supply Norsk Tipping with its fully fantasy sports offering after winning a tender and signing a contract with the Norwegian state-governed entity.
• Scout Gaming has entered into an agreement with Bet Entertainment Technologies to deliver the company's Daily Fantasy Sports platform. The agreement gives Bet Entertainment Technologies full access to Scout Gaming's DFS platform enabling them to offer a complete Daily Fantasy Sports solution to all its customers in the international market. Bet Entertainment has growing operations in South America and is active in Portugal with bet.pt, considered to be the largest sports operator in the locally licensed Portuguese market.
• Scout Gaming Group has signed a distribution agreement with NetEnt, through their NetEnt Connect.
Events after the period ended
• Scout Gaming signed an agreement with Hero Gaming. Hero Gaming is expected to launch several of Scout Gaming's products, including a completely new jackpot product.
• Scout Gaming launched Esport-related markets for its entire range of products, launched initially on its own operator Fanteam.com and since mid-April available on external partners.
• Scout Gaming signed an agreement with GLHF.gg, a platform that strengthens the bond between professional sports teams and their fans.
The full report is attached and available on:
https://www.scoutgaminggroup.com/investor-relations/financial-reports
For additional information, please contact:
Andreas Ternström, CEO
Tel: +46 706 770 660
E-mail: andreas.ternstrom@scoutgaminggroup.com
Billy Degerfeldt, CFO & Investor Relations
Tel: +46 758 16 68
E-mail: billy.degerfeldt@scoutgaminggroup.com.
About Scout Gaming Group
Scout Gaming Group is a licensed and regulated provider of B2B Daily Fantasy Sports. The company offers a flexible and customizable network based Fantasy Sports solution with support for most sports and leagues. The Group is headquartered in Stockholm, Sweden with development and operations in Bergen, Norway and Lviv, Ukraine. Sales, support and product management is handled from the office in Malta. Scout Gaming is listed on Nasdaq First North Growth Market and the Certified Adviser is Redeye AB. Contact details: Certifiedadviser@redeye.se, +46 (0)8 121 576 90.
This information is information that Scout Gaming Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 20 May 2020.