(Scout Gaming Group)

Scout Gaming Group Trims Net Loss in 2023

Scout Gaming Group, a provider of fantasy sports and betting software, has reported a reduced net loss in 2023, thanks to a strategic cost-cutting initiative. CEO Niklas Jonsson is optimistic about the company's prospects, expressing confidence in its journey toward profitability.

The total revenue for the 12-month period reached SEK 31 million ($3 million), marking a notable increase of 21.1% compared to the same period in 2022. Notably, expenses saw a substantial reduction of 42.4%, amounting to 56.5 million kroons.

In August 2023, the company implemented workforce reductions as part of its initiative to enhance economic efficiency. Jonsson clarified that the workforce reduction aimed to make the company more cost-effective. He reiterated that Scout Gaming Group is steadfast in its commitment to creating shareholder value.

“We continue to see interest from new partners and increased attention from those who have been with us for some time,” mentioned the CEO.

Currently, the company's partners include the globally recognized bookmakers bet365, Betsson Group, and Kaizen Gaming.

26 February 2024, 11:02

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