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Betsson hits a record with €280.1M in Q3 revenues
An online gambling company, Betsson, which produces casino, poker, bingo, sports betting, and scratch card websites through more than 20 online gaming brands, shared its Q3 results, highlighting the record of $280.1 million.
Betsson has continued its global expansion, with revenues mostly from locally regulated markets. When comparing to 2023, the Q3 revenues rose from 45% to 58%. This is due to the company’s casino and sportsbook performances. Specifically, casino revenues rose by 22%, marking a reach of €209.9m, while sportsbook revenues rose by 7.9%, marking a reach of €68.3m. Total customer deposits hit a record of €1.48bn.
Betsson CEO and president Pontus Lindwall said:
“Yet again, Betsson reports quarterly records in revenue and EBIT. This means the 11th quarter in a row with sequential growth on the EBIT level. Growth was broad-based with sustained high activity in the regions Latin America, Western Europe, and Central and Eastern Europe and Central Asia (CEECA).”
Betsson’s year-to-date revenues
By the end of September, Betsson’s year-to-date revenue reached €799.8m, showing a 14.8% increase compared to the same period in 2023. Operating profit grew 21.5% to €186.5m, and pre-tax profit rose 17% to €168.3m. After taxes, net profit stood at €130.6m, slightly above last year’s €129.7m. EBITDA for the year-to-date amounted to €229.5m, marking a 20.3% rise.
Lindwall commented on Q4:
“Hence there is reason to feel confidence about the last quarter of the year, which is usually also the seasonally strongest quarter for customer activity.”
Betsson’s regional revenues
Betsson’s revenues from CEECA, Central and Eastern Europe, and Central Asia remain the largest contributors. They generated €116.3 million, which is an increase of 34.2%. Western Europe also saw 14.2% growth. However, revenue in the Nordics declined by 1.8%.
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