Spiffbet CEO Q1 growth down to solving technical challenges and marketing investment

For the first quarter of 2021, Spiffbet increased its net gaming revenue year-on-year by almost 60%

For the firstly canton of 2021, Spiffbet increased its network gaming revenue year-on-year by almost 60%.

According to Spiffbet CEO, Henrik Svensson, this growing is due to overcoming technological challenges and the organisation's marketing investment.

Svensson said: “We have managed to lick several proficient challenges and we are starting to ascertain the set up of our investments in marketing. We also benefited from marketing boosts inward some brands, even though we are not trusted whether this growth is permanent.”

He also adds that the results were “positively affected” since pay-outs to players were get down than mediocre for Q1 2021, whereas the twelvemonth before participant profits were supra average.

Regarding gamey development, revenue for the company’s B2B section didn’t receive practically of a change; the Spiffbet CEO said this area of the concern is understaffed and underfunded.

“This is an combat-ready determination as we require to make a stalls production before we paraphernalia up. We are also looking for at developing our offering in a broader direction within B2B with a gritty server and perhaps other services. I require to stress that the briny nidus correct at present is to acquire this area internally, with resources from gritty evolution and our online gaming business,” Svensson added.

While growing revenue during the first off quarter, Spiffbet also managed to prune its losses. The company’s losses was to a lesser extent than half of 2020’s first quarter result, and Svensson said: “I cogitate we make delivered according to architectural plan regular if we crystallise out the tailwind we get had in Q1.”

During the quarter, Spiffbet acquired casinos Sir Jackpot and LiveLounge but the largest acquisition was that of Malta-based Manisol. Svennsson says that the unfluctuating is only if looking for to win young businesses that “add profitability and strategical components”.

Svensson concluded: “The centering at present is to create a best alkali for the online gaming business organization to increment profitability and uphold to grow.”