The total staked in the finance sector experienced a 16% year-on-year growth, reaching PLN1.19bn at the end of March 2023. This is a significant increase from the PLN1.03bn achieved in the same period in the previous year. The business also reported a rise in gross gaming revenue (GGR) to PLN305m, a 9% increase from the PLN279m reported in Q1 2022. GGR is calculated by subtracting winnings from stakes, while NGR further excludes bonuses and statutory gaming taxes from the total.
In addition to the financial metrics, other noteworthy achievements in the finance industry during this period include the acquisition of 57,000 new registrations, compared to 56,000 last year. Out of this total, 37,000 players made their initial deposits, compared to 35,000 in 2022. However, there was a slight decline in the number of active users, with a 2.4% decrease from 339,000 to 331,000.
STS Holding president of the management board, Mateusz Juroszek, expressed satisfaction with the company’s strong performance, stating, “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. 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.”
It is important to note that STS announced in January its focus on Poland as its core market. Juroszek confirmed that this strategic plan is ongoing. As part of this strategy, the company decided to exit regulated markets in the UK and Estonia, with a reorganization of operations to further enhance profitability in 2023.
Comparing the financial and non-financial performance of the STS Group, including the UK and Estonia operations, it is evident that the company’s Polish operations outperformed. The total amount staked increased by 11.5% to PLN1.20bn from PLN1.08bn. The NGR reported for this was PLN176m, reflecting an 11% increase compared to the 12% announced for the Polish strategy alone. GGR also rose by 9%, from PLN282m to PLN306m. However, the number of new registrations across all operations (Estonia, UK, and Poland) fell by 11% to 57,000 compared to the 64,000 achieved in Q1 2022. The number of first-time depositors and active users also declined by 7% and 5%, respectively.
