Nordic Leisure Retains Eastern Europe Focus As Revenue Slides

Scandinavian online gambling operator Nordic Leisure has reiterated its commitment to focusing on the Eastern European market after reporting a 51.2% year-on-year drop in operating revenue during the third quarter of 2013.

The firm posted revenue of SEK12 million (€1.4 million/$1.8 million) for the latest quarter, a significant drop on the SEK24.6 million recorded in the corresponding period last year.

Earlier this year the company sold its Malta-based Redbet Gaming subsidiary.

The latest figures also revealed a drop in earnings before interest and tax, from SEK3 million to SEK1.3 million.

Earlier this year, Nordic Leisure said it would focus more on the Eastern Europe market in order to improve results.

Niklas Braathen, Nordic Leisure’s chairman, said that the operator would continue with this strategy moving into 2014 and beyond.

“That we can now move forward with a full focus on the Eastern markets, which we consider to be our core markets, feels extremely good and stimulating,” he said.

“It is my opinion, we possess a good position to take advantage of the business opportunities we see in these markets and I eagerly look forward to the cooperation with our management team to deliver future value to our shareholders.”

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