Sniffbet increased its gross gaming revenue up to 60% in the first quarter of the year 2021. This massive growth in the earnings is due to focusing on the lacking area of the company.
According to Henrik Svensson, Sniffbet CEO, the gradual growth of the revenue year by year is due to focusing on overcoming the technical roadblocks and the company’s marketing strategies.
Svensson quotes, “We have managed to correct many technical challenges and we are starting to see the effect of our investments in marketing. We also benefited from the marketing boosts in some brands, despite not being sure if this increase is permanent.”
Svensson also explains that the results of gambling are “positively affected” because payouts were lower than normal in the first quarter of 2021. The profits years before 2021 players used to attain more than average profits on their gameplay.
Regarding the game quality and further development, the company didn’t make many changes or advancement. The company’s B2B revenue does not show any change. The company’s CEO asserts that this static nature is because the unit is understaffed and underfunded.
Svensson Adds, “This is an active call because we want to create a stable product fr players before we gear up. We are also looking to expand our B2B spectrum and include more game servers, quality, variations, and other services. I want to stress that our main focus right now is to develop the area internally, with much better resources and improving our gambling business.”
While Sniffbet was growing tremendously this year, the company also tried to cut its losses to the bare minimum. The company’s losses were calculated as less than half of the losses incurred to the firm in the year 2020. Svensson said, “I think we have delivered according to the plan even if we clear out the tailwind we experienced in the first quarter of 2021. ”
During the first quarter, Sniffbet managed to acquire casinos Sir Jackpot and LiveLounge to the company, but the most popular and largest acquisition was the Malta-based Manisol.
Svensson says that the firm is strategically designing its module to attract more business that might add value to the firm and add profitability and strategic components.
Sniffbet is managing to improve its marketing technique and to solve technical issues so that it could provide a better bonus and profit ratio.
Svensson concludes: The focus now is to create a better base for the online gaming business to increase profitability and continue to grow better.