Betsson Group expands reach: Flagship Brand launch in Italy
An important step in expanding their footprint internationally is the Betsson Group's introduction of their primary Betsson brand in Italy.Betsson.it has a huge...
Betsson reports Q2 2023 financial results
In its latest report, Betsson AB has detailed its financial performance in the year’s second quarter.
The report started off with the company’s key figures, with its revenue of 237 million euros being the first. This amounted to an increase of around 27% from last year’s revenue of 186 million euros. The firm also added that its revenue experienced an organic growth of 43%.
Betsson’s EBITDA was recorded at 67.6 million euros at the end of the period, which represented an increase of more than 70% from the 39 million euros of EBITDA it achieved in 2022. The company’s EBITDA margin went up as well, now sitting at 28.5%.
This led to a net income of just under 27 million euros for the operator, which was more than 60% higher than the company’s income in the prior year’s second quarter. This amounted to an earnings-per-share rate of 37 cents per share, up from last year’s 21 cents per share.
Despite all of these increases, Betsson’s active customer base saw a 10% decline, going from 1.25 million users to 1.12 million. The company also took on quite a bit of debt in the period, having a net debt figure of just under 139 million euros.
Lastly, the company mentioned some of its most noteworthy events from the quarter in its report, which included its partnership with the French gambling firm Groupe Partouche, its acquisition of the gambling operator betFirst, and its recent sponsorship agreement with the Argentinian football team Boca Juniors.
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