STS doubles down on Polish strategy
STS Holdings Polish subsidiary STS S.A reported its best ever Q1 , announcing a 12% year-on-year rise in net gaming revenue (NGR) from PLN 156m (£29.4m/ €33.4m/ $36.5m) to PLN 175m.
The total staked rose also increased to PLN 1.19bn in the three-month period ending 31 March, a 16% year-on-year growth from the PLN 1.03bn the company achieved in the same period the previous year.
On these stakes, the business reported gross gaming revenue (GGR) of PLN 305m, a 9% rise from the PLN PLN 279m the company reported in Q1 2022. GGR is stakes minus winnings – while NGR additionally removes bonuses and statutory gaming taxes from the total.
In terms of non-financial metrics, the company announced that it achieved 57,000 new registrations in the three-month period, compared to the 56,000 that it reported last year. Of this total, 37,000 players made their first deposit as opposed to 35,000 in 2022. However, despite these increases – the company actually saw the business’s number of active users decline 2.4% from 339,000 to 331,000.
STS re-confirms Polish strategy
“In line with our expectations, in Q1 2023 we achieved very good operating results. We recorded significant increases in key indicators related to our business,” said STS Holding president of the management board Mateusz Juroszek.
“STS customers remain strong and willing to place bets. In addition, a significant proportion of players acquired during the World Cup are highly active. We hope that in the coming months we will continue to effectively activate our extensive customer base, which is still growing.”
In January, STS announced that it would be re-orienting the business’s strategy to focus on its core market Poland. Juroszek confirmed that this plan was ongoing.
“In 2023, the group is planning a number of activities aimed at increasing the profitability of its operations,” he said. “To this end, the company reorganised its operations, focusing on Poland and closing its activities under licences in the UK and Estonia.”
STS Group operations
However, the STS Group operations – that is including the UK and Estonia did not perform as well on a number of both financial and non-financial metrics as just the business’s Polish business.
The total amount staked increased 11.5% to PLN 1.20 from PLN 1.08bn. On this the company reported a NGR of 176m, an 11% increase compared to the 12% announced for just the company’s Polish strategy. GGR also rose from PLN 282m to PLN 306, a 9% increase.
New registrations including the business’s Estonian, UK and Polish operations were 57,000 compared to the 64,000 achieved by the business in Q1 2022 – an 11% fall. The number of first time depositers and active users also declined 7% and 5% respectively.
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