Betsson Proposes Re-Election of Directors at AGM

Betsson, a prominent player in the gaming industry, has made a significant announcement regarding its upcoming AGM scheduled for May 7, 2024. The company's nomination committee has recommended the re-election of all current directors, a list that includes Johan Lundberg as the chair of the board. Shareholders are encouraged to vote in favor of this re-appointment.

The current board of directors includes Eva de Falck, Peter Hamberg, Eva Leach, Pontus Lindwall, Louise Nylén, and Tristan Sjöberg. Notably, Lundberg also serves as a director and holds the crucial role of chairing the Betsson board.

In addition to the re-election proposal, shareholders at the upcoming AGM will deliberate on increasing board fees. The proposal aims to raise these fees by 10%, marking the first adjustment since 2021. It's important to note that Pontus Lindwall, Betsson's chief executive, will not be receiving any board fees.

These proposed changes come on the heels of a remarkable year for Betsson, characterized by impressive financial achievements. In the third quarter of 2023, the company reported a record-breaking revenue of €237.6 million, marking the third consecutive quarter of record revenue.

The Q3 highlights also include €56.0 million in earnings before interest and tax, reflecting a substantial 45.8% increase from the previous year. Pre-tax profit surged to €50.8 million, a remarkable 44.7% growth, with net profit showing a robust increase of 41.7% to €46.2 million. Furthermore, EBITDA for the quarter rose by 41.8%, reaching €68.9 million.

Betsson's success isn't limited to financial gains alone. The company recently completed its acquisition of BetFirst Group, further enhancing its market position. Moreover, Betsson secured valuable licenses for online casino operations in Serbia and online sports betting in France. However, its plans to enter the Netherlands have been postponed due to delays in the certification process.

As Betsson moves forward with its AGM plans, shareholders have much to consider, including the re-election of directors and the potential increase in board fees. These decisions will shape the company's future as it continues to navigate the dynamic gaming industry landscape.