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STS Group posts $46.2m revenue for fourth quarter of 2022

STS betting news

Polish sports betting operator STS Group recently announced it generated PLN200 million ($46.2m) in net gaming revenue (NGR) in the fourth quarter of 2022.

These figures have been the highest to be recorded by the company since its inception. The PLN200 million is a whopping 47 percent increase compared to the year 2021, when the company pulled in PLN136 million ($31.4m).

STS Group also experienced an increase in active users from 2021 to 2022. The former had about 693,000 active users, while 2022 recorded 783,000 active users.

According to data analysis, the amount placed on bets in the fourth quarter of the year 2022 reached a peak of PLN 1.38 billion ($318.6m), which is a 13 percent growth when compared to the fourth quarter of 2021, which saw PLN 1.22 billion ($281.6m) in wagers placed.

According to the President of the Management Board of STS Holdings, Mateusz Juroszek, the company reaching this milestone was heavily influenced by the 2022 FIFA World Cup, which was held in Qatar in November and December.

“In line with our earlier announcements, Q4 2022 turned out to be record-breaking. The calendar of sports events and the World Cup held in Qatar contributed to high customer activity,” said Juroszek.

“Our offer attracted as many as two hundred thousand new players in the last three months of the year. During the World Cup alone, we had nearly half a million active customers.”

The group has also outlined their plans for 2023, with the aim of reaching a higher record. It revealed that it was restructuring its operations and putting an emphasis on Poland. STS Group also disclosed it will be winding down its operations in the UK and Estonia.

Juroszek added that revenue will likely increase going forward, due to a new deal with the Polish Football Association. Despite the incredibly challenging socioeconomic situation, which consists of the Ukraine War, rising prices, and economic decline, he said the STS Group is going to concentrate on the Polish market, and to kick start this, it is introducing modifications to the company’s organizational structure.

“Operating data for last year clearly show that the domestic market is in a growth phase, despite the extremely difficult macroeconomic environment – the war in Ukraine, high inflation and economic stagnation. Therefore, we intend to use this potential as fully as possible and continue to strengthen our leading position in the country. For this purpose, since the beginning of this year, we have been focusing our activity exclusively on Poland,” he said.

“Our goal for the difficult year 2023 is greater efficiency of operations and a number of implemented savings. The new agreement with the Polish Football Association, focus on the Polish market and a number of synergies resulting from changes in the structure of the group will positively affect our profitability and facilitate further EBITDA growth.”

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