- Legal States
Jerome García November 25, 2022 2 min read
STS Group Reports Increase in Revenue and Profit in Q3
The fast-growing bookmaker in Central Europe and leading operator in Poland, STS Group, released its latest trading update Friday. The company revealed it enjoyed a strong performance for the third quarter, boosted by an increase in customer activity because of an action-packed sports schedule.
STS Posts Third Quarter Results
Overall, STS Group reported PLN 150 million ($33.3 million) in revenue for the third quarter of this year. This result, when compared to the PLN 119 million ($26.4 million), reported for the corresponding period in 2021, marked a strong increase of 25%. Adjusted EBITDA in the third quarter of this year increased as well, hitting PLN 73 million ($16.2 million). When compared to the PLN 52 million ($11.5 million) adjusted EBITDA reported in Q3, 2021, this year, an increase of 39% is observed.
More importantly, STS Group reported a strong consolidated profit in the third quarter of this year. Overall, the company’s net consolidated profit in Q3 hit PLN 49 million ($10.9 million), up by 65% when compared to the PLN 30 million ($6.6 million) in consolidated net profit reported for the same period in 2021.
Additionally, the company released details regarding the net profit of STS SA, its main operating company. Those results once again showed a strong increase as STS SA’s net profit between July and September this year hit PLN 48 million ($10.6 million). This marked a strong increase of 42% when compared to the PLN 34 million ($7.5 million) reported for the same period in 2021.
Busy Sports Schedule Boosts Q3 Results
Mateusz Juroszek, STS Holding’s president of the Management Board, acknowledged that the company enjoyed a strong third quarter. He explained that the busy sports schedule helped significantly increase customer activity during the quarter. Juroszek added: “Football competitions due to the World Cup in Qatar started already in the holiday season.” Additionally, he pointed out that Polish basketball and volleyball players proved they are in good shape which boosted the interest of sports fans to place wagers.
“In Q3 2022, there was a high activity of players observed, which was primarily related to a very intense calendar of sporting events.“Mateusz Juroszek, president of the management Board at STS Holding
Focusing on the World Cup, Juroszek, said that the event creates unique opportunities for rapid player acquisition. Finally, the president of the management Board said: “the participation of 32 teams and several dozen matches played means that the activity of bettors will certainly be high.”
Jerome is a welcome new addition to the Gambling News team, bringing years of journalistic experience within the iGaming sector. His interest in the industry begun after he graduated from college where he played in regular local poker tournaments which eventually lead to exposure towards the growing popularity of online poker and casino rooms. Jerome now puts all the knowledge he's accrued to fuel his passion for journalism, providing our team with the latest scoops online.
Business November 25, 2022
Business November 25, 2022
Hi Jerome García, I love this article!
It is both exciting and informative. You have outlined some critical points about how the World Cup in Qatar has helped increase customer activity during the third quarter for STS Holding and how it creates unique opportunities for rapid player acquisition.
I agree with you that sports competitions due to the World Cup, such as football and basketball, have increased the level of interest from sports fans to place wagers.
Additionally, the participation of 32 teams and several dozen matches being played means that there will be a lot of bettors who take part in these events.
What I found most impressive was your explanation of how the busy sports schedule this year and the introduction of a unique customer acquisition tool have allowed STS Holding to expand its customer base and increase its revenues.
Furthermore, you noted that these results are expected to continue due to similar activities and other promotions.
Your article was beneficial, and I now understand better how sports competitions such as the World Cup can benefit an iGaming business like STS Holding.
This is something that I will be keeping an eye out for in the upcoming quarters!
Thanks again for this great post, Jerome García! 🙂