STS sees gaming revenue, total stakes up year-over-year in Q2

From April to June this year, net gaming revenue (NGR) for STS Group increased by 26% Y-o-Y, from PLN 135 million ($34 million) to PLN 170 million ($42 million), the Polish sports betting company announced in a business update, which leaves out UK and Estonia operations.

In the second quarter of 2023, STS S.A. generated a GGR of PLN 298 million ($75.1 million), compared to PLN 263 million a year before. This represents a year-on-year increase of 14%.

Accordingly, the value of amounts staked in Q2 2023 in the STS S.A. – the main operating company in the STS Group – was PLN 1.10 billion ($277.4M) and was higher by 3% year on year, compared to the amount seen in the same period the previous year. 

However, the quarter also saw new registrations down to 52,000, compared to 63,000 a year before. Further, the company noted that the number of players who made the first deposit was 35,000 from April to June this year, compared to 44,000 in the previous year; and that the number of active users in Q2 2023 was 301,000, compared to 348,000 in Q2 2022. 

"The operating results for Q2 2023 confirm that STS is performing well in the Polish market. The potential of the domestic iGaming industry is high and STS is able to effectively exploit its market position. We hope to record the highest player activity in the last quarter of this year," said Mateusz Juroszek, CEO of STS Holding. 

In 2023, the group is implementing a number of activities aimed at increasing the profitability of its operations. To this end, the company reorganized its operations, focusing on Poland and closing its activities under licenses in the UK and Estonia. 

The company's update said that, cumulatively in H1 2023, the value of amounts staked for STS S.A. was PLN 2.296 billion ($579.1 million) compared to PLN 2.093 billion a year ago. Gross gaming revenue for the first half of the year was PLN 604 million ($152.3 million), up from PLN 542 million in H1 last year.

However, in H1 2023, the number of new registrations for STS S.A. was 109,000, while a year ago it was 119,000. The number of players who made their first deposit in H1 2023 was down to 72,000, while in 2022 it was 79,000. The number of active customers over the first six months of 2023 was 410,000, while a year ago it was 447,000.