Nordic online gambling operator Betsson AB hasn’t seen a major increase in its online casino revenue, contrary to the current narrative surrounding the COVID-19 pandemic.

Figures released Thursday show Betsson generated revenue of SEK1.42b (US$141m) in the first three months of 2020, up 7% from the same period last year. Earnings rose 2% to SEK353m while net income was flat at SEK229.6m.

Sports betting revenue improved 29% to SEK385m, representing 27% of group revenue, up five points from Q1 2019. Betting turnover improved 8% while margins gained 2.2 points to 8.5%. The gains came despite the mass suspension of major sports events, leading CEO Pontus Lindwall to remark on how well the company has responded to the pandemic challenge.

Online casino revenue was flat at just over SEK1b, spoiling the prevailing narrative that frustrated sportsbook customers were migrating en masse to casino products. Betsson said it has noticed an uptick in online casino customers and activity in March and April, although active customers across all verticals suffered a modest decline in Q1.