Betsson AB has reported a 6% year-on-year (YoY) increase in Q3 revenue to €295.8m (£257.8) driven by record online casino performance.
The Stockholm-listed operator’s revenue jumped from €280.1m in Q3 2024, with the firm reporting organic growth of 11%.
EBITDA increased 3% to €82.5m, while EBITDA margin declined from 28.7% to 27.9%.
Operating income rose 4% YoY to €66.9m, alongside a slight margin decrease from 23% to 22.6%.
Betsson pointed to “continued strong growth in Italy”, all-time casino revenue highs and gains in Latam as key drivers for the business during the reporting period.
Breaking revenue down by region, Central and Eastern Europe and Central Asia (CEECA) represented the lion’s share of revenue at 41%, or €119.3m.
Bosses said Croatia and Greece reported all-time revenue highs, while Latvia and Lithuania revenue also jumped.
Latam, representing 26% of group revenue, hit €76.5m as Argentina, Peru and Colombia all reported YoY growth.
Western Europe, driven by Italy, reported revenue of €56.9m, up from €44.7m in Q3 2024.
The Nordics ongoing slide continued, with revenue falling from €45.3m to €36.4m, with all markets in the region reporting a decline.
Revenue from locally regulated markets increased 16% to €188.6m, representing 63.8% of all revenue.
Casino revenue jumped 6.2% YoY from €209.9m to €223m, with the vertical accounting for 75% of group revenue.
In sports betting, tough comparisons against Euro 2024 and the Copa América last summer meant turnover was down 18.7%.
However, sports betting revenue was up 4.3% to €71.2m, while the sportsbook margin hit 8.8%.
B2B revenue rose from €66.7m to €76.9m.
Customer deposits slipped 2% YoY to €1.5bn and the number of registered customers fell from 31.1 million to 30.4 million. Betsson said this was due to the closure of some markets.
Looking at the start of Q4 trading, Betsson added that average daily revenue up to and including 19 October was 2.1% higher than average daily revenue for the full Q4 2024.
Betsson’s shares are up around 2.5%, at the time of writing, to SEK152. Management also announced a €40m share buyback scheme this morning (24 October), which is due to end in April 2026.
Pontus Lindwall, Betsson CEO, said: “I look forward with confidence to the end of the year and ahead to 2026 with the upcoming World Cup in football.
“Our strong balance sheet enables continued investments in product development and strengthened market positions to support continued stable profit growth and dividends to our shareholders.”
The post Betsson Q3 revenue up 6% on the back of record online casino performance first appeared on EGR Intel.
Growth in Italy and Latam also cited by bosses as core drivers, as management also announce a €40m share buyback scheme
The post Betsson Q3 revenue up 6% on the back of record online casino performance first appeared on EGR Intel.