|The boss for Sweden’s Boss Media outlined the difficulties overcome by the company last year along with his plans for the future of the online gambling software provider.|
Michael Hallen, Chief Executive Officer for Boss, addressed Swedish analysts at the SEB Enskilda Nordic Seminar Copenhagen 2008 last week and stated that, although 2007 was a difficult year, the company was stronger than expected.
He stated that the next twelve months would see Boss concentrate on new product launches with an increased sales focus with the company’s strong market position and balance sheet giving it ambitions of making acquisitions in a period of industry consolidation. He said that Boss aims to double revenues at sustained 15 percent margins by 2010.
Moving forward, Hallen stated that Boss would increase sales with a more aggressive marketing campaign, re-energise management, open more business-convenient offices Stockholm and work towards a heightened global presence. The company would also build bigger and better online poker and bingo networks to capitalise on the fourth quarter’s trend of strong month on month growth, target a doubling revenues with a sustained margin by 2010, have more product launches throughout the year and drive to make appropriate acquisitions in an industry that is undergoing consolidation.
Boss also released its half-year report, predicting that net sales in 2007 would end at the same level as 2006 but that the operating margin was expected to be below 15 percent. It stated that a strong development within several business areas during the last quarter has given it confidence in a better result for 2007 than was previously thought.
Hallen stated that the company intends to publish its preliminary 2007 results on January 22 and predicted that the global online gambling market is likely to grow by some 15 to 20 percent annually until 2010.