STS guarantees Betsys dividend ahead of WSE debut call
STS Holding has revealed that it has received a dividend of PLN 13.3 million (€2.8m) related to the performance of its tech subsidiary Betsys.
Providing investors an update on Betsys performance, STS disclosed that, during 2021, its tech unit had grown in EBITDA to PLN 21.8 million (€4.6m), up 50% on FY2020 corresponding results of PLN 14.5 million.
Profits generated by Betsys will be transferred to STS Holdings, which in accordance with the group’s dividend policy, will reward existing shareholders with a pay-out of 100% of standalone net profits.
In 2020, Betsys became a subsidiary of the STS Group, following STS Holding’s decision to acquire its Czech technology and IT solutions partner outright to support the firm’s expansion across multiple European marketplaces.
STS investment saw Betsys become the largest supplier of IT solutions for the betting/gambling industry in Central Europe – in which it employs over 100 technology specialists, including developers in Prague, Brno and Katowice.
Betsys success underlines STS Group’s year-on-year increased investment in its proprietary product portfolio and the advancement of new tech solutions that have seen investment grow from PLN 6.5 million in 2018 to PLN 27.1 million in 2020.
STS Group will publish its full-year 2021 results on Wednesday 6 April, announcing its first set of results as a Warsaw Stock Exchange (WSE) enterprise.
Welcoming Betsy developments Mateusz Juroszek, CEO of STS Holding stated: “Only the largest operators in the world have their own betting platform and independent technological background. Meanwhile, Betsys of the STS Group provides a full spectrum of sports betting solutions.”
“It is the largest such supplier in our part of the continent. The Betsys platform supports all sales channels – mobile, online, retail. Our goal is its further development as well as building our advantage and new competencies in this category”