ATG Q1 Revenue Hits SEK1.3bn Owing to Horse Racing Sector Surge

ATG's first quarter revenue reaches 1.3 billion Swedish Krona due to a significant increase in horse racing activities.

ATG had a very successful first three months of the year, earning SEK1.3 billion, more than they've ever made in the past during the same period. This amount is 9.2% higher than last year's first quarter. Most of this increase comes from their horse racing business, which made SEK968 million, accounting for 74.5% of their total earnings for the quarter, and shows a growth of 13.3% compared to last year.

Key Revenue Drivers

• Horse racing sector contributed SEK968 million to NGR.
• Casino segment's NGR rose by 13.8% to SEK165 million.
• Sports betting NGR fell by 10.8% to SEK173 million due to favorable outcomes for players.

Even though less money was bet on sports, the company made more money overall because of increased earnings from horse races and casinos. Officials from ATG explained that this was also because Easter came earlier and there were more big prize games than before.

Financials in Focus

ATG's costs went up by 50 million Swedish kronor, hitting 1.1 billion kronor, including taxes. This increase was due to more money coming in and the taxes, rights, and fees that come with it. Even so, ATG's profit for the first quarter reached 389 million kronor, which is more than last year, and their profit margin also grew from 23% to 26%.

ATG's clients and its commitment to ethical business practices.

ATG's active customer count has increased to 1.4 million, showing that more people are using their platforms. Lotta Nilsson Viitala, the company's Chief Financial Officer, said that ATG is making it a top priority to create stronger safety measures for gambling and is working on ensuring that customers gamble in a responsible way.

Performance and Market Threats

ATG did well in 2023 with a profit of 1.45 billion Swedish krona and their business grew to 5.27 billion krona. They hope to keep doing better, but they're worried about more people gambling with companies that don't have a Swedish license. The percentage of gambling that's done through legal channels has dropped and is now under the 90% target the Swedish government wants. The problem is bigger because the number of people visiting illegal gambling sites has grown a lot since 2019, and this is a big concern for ATG.

ATG is doing well even though it faces problems from illegal markets. The company did very well in the first three months of the year, mostly because its horse racing business did so well. ATG is also working hard to make sure its customers gamble safely, showing it wants to grow in a way that lasts.