Polish operator STS reports H1 NGR of €62m as it prepares for World Cup-dominated H2

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Polish bookmaker STS Group generated NGR of €62.2m in the first half of 2022, slightly ahead of the prior year comparative period.

According to a selection of financial stats released by the company today (19 July), that revenue came from a total of €459.5m handled in wagers, down slightly from €465.8m in the first half of 2021.

STS pointed out that during the prior year period, Q2 2021 saw the 2020 UEFA European Football Championship take place – suggesting it was a period of heightened activity for the business – and that the FIFA World Cup will be taking place in the fourth quarter of this year, across November and December.

In Q2 2022, the number of active customers using STS products came in at around 375,000, with 92,000 new registrations and 66,000 first time depositors (FTDs) joining the customer base during the quarter.

These figures will be welcomed by STS, which generated €33.1m of its H1 revenue during the first quarter, marking a 15% year-on-year increase and a new quarterly record for the firm.

STS CEO CEO Mateusz Juroszek: “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.”

Adjustable EBITDA in Q1 was €15.1m, up 17% from the prior-year period, while STS S.A., the main operating company of the STS Group, achieved net income of €12.4m for the quarter, up 24% year-on-year.

“In the first half of this year, we achieved very good operating results,” said CEO Mateusz Juroszek. “We have slightly improved NGR – the value of amounts staked by the customers, less the winnings paid and gambling and lottery tax – compared to the same period last year. 

“It is worth noting that in 2021, EURO 2020 was played in that period. 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.”

STS said it is constantly developing its in-house technology platform to meet its customers’ needs, and has been continuously implementing a mobile-first strategy for several years.

Investments in its product portfolio and technological solutions amounted to PLN29m in 2021, it said, while the business also holds 74% of the shares in Czech technology supplier Betsys after completing a purchase in 2020.

The full STS financial statement will be published in September.

About the author

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Conor Mulheir

Conor entered the gaming industry in 2018 producing high-level live event content for audiences in London, Amsterdam and São Paulo. From 2020, he went on to report news and commission exclusive content for various gaming media brands before joining iGaming NEXT as editor in January 2022.

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