STS leaves Estonia & UK despite the record income of 2022
It has been stated that STS had an unprecedented income rate in 2022. However, it has decided to abandon the British and Estonian sports betting markets to target Poland. The company stated that it prioritizes focusing efforts on a single market for the best outcome.
STS made a huge success in 2022
STS stated that in 2022, players betted PLN4.68bn which makes up a growth rate of 4.2% and is equivalent to 1.06bn in dollars, 979.3m in euros and 868.4m in pounds (the amount wagered in 2021 was PLN4.49bn). The group also recorded a growth rate of 9.2% in the gross betting income ranging from PLN1.09bn in 2021 to PLN1.19bn in 2022.
According to STS, the recorded earnings before interest, taxes, depreciation and amortization for the mentioned year comprised PLN265m and PLN275m. The net revenue reached PLN663m which also recorded an increase in comparison with the previous year amount of PLN565.
Quarter 4 unprecedented income
In the quarter 4 of 2022, the company recorded a record growth of net gaming revenue comprising PLN200m which increased by 47.0% in comparison with the same period of 2021. In the 2nd quarter of 2022, the NGR decreased reaching 16.6% in comparison with the 2nd quarter of 2021.
There was also 13% growth in total bets, 40% boost in active players and 32% increase in signups. First time deposits in quarter 4 of 2022 also increased significantly relative to the same period of 2021. If in 2021 it was 60,000, one year later it became 154,000.
STS Holding’s CEO Mateusz Juroszek stated that the unprecedented growth rate was conditioned by the sporting events calendar.
‘’The last quarter recorded an engagement of 200.000 new players. Around 1.5 million customers joined the World Cup. The analytics shows that the in-house markets grow rapidly in spite of the economic issues. Concentrating our efforts on one target Polish market, we aim for new achievements in 2023 such as greater operational effectiveness and lots of savings. We also signed a new collaboration partnership with the Football Association in Poland – a collaboration that started back in 2014. The synergy of this collaboration will foster our revenues and boost earnings before interest, taxes, depreciation and amortization.’’
The amount of shares of STS group is presently PLN17.51. In December 2021, this amount was first included in the Warsaw Stock Exchange list.