Polish gaming firm STS experienced a successful first quarter in 2023. Their earnings significantly surpassed the previous year, with a 12% surge in revenue. This growth was fueled by an increase in betting activity, as the total amount wagered climbed by 16%.
STS is pleased with these achievements and remains committed to the Polish market. They welcomed a considerable number of new customers, although the number of active users experienced a slight decline. The company’s leader expressed satisfaction with the outcomes and anticipates continued expansion.
STS patrons continue to be strong and eager to wager. Furthermore, the substantial number of players acquired during the global football tournament are highly engaged. We aim to keep effectively engaging our expanding customer base in the coming months.
STS declared a change in its business approach in January, concentrating on its primary market, Poland. Juroszek confirmed that this plan is being carried out.
“In 2023, the organization intends to undertake a series of actions aimed at enhancing operational profitability,” he stated. “To achieve this, the company has restructured its operations, focusing on Poland and closing its operations under licenses in the United Kingdom and Estonia.”
STS Group Operations
However, the STS Group’s operations, including the United Kingdom and Estonia, performed less favorably on numerous financial and non-financial measures compared to the Poland-only business.
Total betting increased by 11.5%, from 1.08 billion zloty to 1.2 billion zloty. The company reported an NGR of 176 million zloty, an 11% increase compared to the 12% growth announced for the Poland-only strategy. GGR also rose from 282 million zloty to 306 million zloty, an increase of 9%.
New registered users, encompassing operations in Estonia, the United Kingdom, and Poland, totaled 57,000, compared to 64,000 in the initial quarter of 2022, a decrease of 11%. The number of first-time depositors and active users also decreased by 7% and 5%, respectively.