Net income fell 5 per cent to €44.4m, while operating cash flow was down 15 per cent at €75.8m. The improved operating margin and income were achieved despite a larger share of revenue being subject to local gaming taxes. Revenue from locally regulated markets accounted for 55 per cent of all revenue following the obtention of licences in Peru for the Betsson and Betsafe brands. Betsson also expects to gain a Peru licence for Inkabet.