Betsson has said it expects revenue to remain stable year-on-year during Q4 despite what the group described as a “slowdown” across both the Nordics and Central and Eastern Europe and Central Asia (CEECA).
Preliminary reporting from Betsson placed revenue at €304 million ($353 million) for the three months to 31 December 2025. This would place revenue only 1% behind the €307 million posted in Q4 of the previous year.
However, the preliminary results forecast a sharper decline in operating profit to €53 million in Q4 2025 – 24.3% less than €70 million in 2024.
Mixed regional performances for Betsson
Analysing the quarter, Betsson referenced “good customer activity”, with higher numbers of active players than the previous year. Revenue was higher in both Western Europe and Latin America but lower across the Nordics and CEECA.
Despite the slowdown, CEECA drew the most revenue at €120 million, down 9.1% year-on-year. Nordics revenue dipped 15% from €40 million to €34 million.
These declines, however, were offset by revenue growth across Western Europe of 15.1% to €61 million. Latin America revenue climbed by 7.7% to €84 million – helped by launches in both Brazil and Paraguay in 2025, while rest of world revenue topped €5 million.
Casino remains king in Q4
Looking at gambling types, casino generated the most revenue at €220 million, an increase of 2.8%. Sportsbook revenue dipped 8.8% to €83 million, while revenue from other gaming products halved to just €1 million.
The share of revenue from locally regulated markets reached an all-time quarterly high of 68% (up from 60%). This led to increased tax payments, up 23% to €53 million. Betsson also referenced ongoing investment in product and technology during Q4, as well as an increase in staff numbers.
This spending, together with higher tax and slightly lower revenue, led to the expected drop in operating profit. In addition, gross margin is forecast to drop from 65.3% to 60.5%.
Optimism over growth targets for 2026
Betsson President and CEO Pontus Lindwall was upbeat about Q4, and the group’s performance in 2025 as a whole. He said investments made throughout the year would support growth in 2026 and beyond.
Incidentally, average daily revenue during the first quarter of 2026 – up to and including 15 January – was 1% higher than the entire Q1 of last year.
“Betsson’s business is diversified and spans across many markets,” Lindwall said. “The business in general is developing positively. Last year, we made significant investments in product development, which is mainly done with our own employees and leads to higher personnel costs.
“I am optimistic about 2026. I am especially looking forward to the Fifa World Cup and also to be able to start reaping the benefits of the investments we have made in product development.”
Betsson is due to publish its full report for Q4 2025 on 5 February.
Betsson expects revenue in Q4 to amount to €304 million, just 1% shy of the previous year.