STS, one of the leading operators in Poland’s bookmaking industry, has announced remarkable financial results for the third quarter of 2022. Despite the challenging landscape where many bookmakers struggled to turn a profit, STS witnessed a surge in net profit and adjusted EBITDA. The company’s solid performance can be attributed to heightened player activity driven by major sporting events, including the World Cup in Qatar, and the exceptional form demonstrated by Polish volleyball, basketball players, and tennis star Iga Świątek in international tournaments.
Financial Performance:
During Q3 2022, STS experienced a substantial 65% increase in net profit, amounting to PLN 49 million. Furthermore, the adjusted EBITDA rose to PLN 73 million, a notable improvement from PLN 52 million in the same quarter of the previous year. These figures indicate a strong financial performance by STS, solidifying its position as one of the few operators in Poland’s bookmaking industry to achieve profitability.
Revenue Growth:
STS reported a revenue of PLN 413 million for the first nine months of 2022, marking an 8% increase compared to the corresponding period in 2021, which totaled PLN 381 million. This growth in revenue demonstrates STS’s ability to capture a larger market share and capitalize on the increased player activity witnessed during the year. The ongoing World Cup in Qatar, with its numerous matches and participation of 32 teams, presents an excellent opportunity for STS to attract new players and further boost its revenue.
Positive Outlook:
Mateusz Juroszek, the Management Board President of STS Holdings, expressed optimism about the company’s future prospects. He attributed the surge in player activity during Q3 2022 to the abundance of sporting events, including the early start of football competitions due to the World Cup in Qatar. Juroszek highlighted the success of Polish athletes in international tournaments, such as volleyball, basketball, and tennis, which further fueled player engagement. He emphasized that the ongoing World Cup in Qatar provides a perfect platform for acquiring new players and expects the activity of bettors to remain high throughout the tournament.
Comparison with Industry Peers:
STS’s impressive financial results for Q3 2022 are particularly notable in light of the struggling bookmaking industry in Poland. Reports indicate that two-thirds of bookmakers in the country failed to generate any profit in the last year. STS, on the other hand, stands out as one of the few operators that not only remained profitable but also experienced significant growth. This achievement underlines STS’s competitive advantage and its ability to navigate challenging market conditions.
STS has reported outstanding financial performance for the third quarter of 2022, with a substantial increase in net profit and adjusted EBITDA. The company’s ability to capitalize on major sporting events and the exceptional performance of Polish athletes in international tournaments has resulted in heightened player activity. STS remains optimistic about its future prospects, particularly with the ongoing World Cup in Qatar, which presents an ideal opportunity for expanding its player base. In a market where many operators struggled to turn a profit, STS stands apart as a successful and profitable player in Poland’s bookmaking industry.