Maintains market capitalisation of Euro 1 Billion over last two years
50-year-old gaming firm Betsson has gained entry to the Nasdaq Stockholm Large Cap segment., the first internet-only gaming firm to have achieve the listing.
The company qualifies for the upgrade from January 1, 2015, as its market capitalisation has remained above Euro 1 Billion for the past two years.
Magnus Silfverberg, chief executive officer and president of Betsson AB, commenting on the development, said:
"It is very gratifying that our long-term efforts are paying off. The fact that Betsson is entering the Large Cap list demonstrates that we have a well-functioning business with talented employees and a clear strategy.
"Our multi-brand strategy creates favourable conditions for continued growth, both organically and through acquisitions. The strategy has also strongly contributed to increased profitability as Betsson has the highest margins in the industry."
While Betsson's early days saw it supplying slot machines and casino operations in restaurants in Sweden, the company now runs all operational activities through online platforms.
Online Casino News Courtesy of Infopowa