Betsson Group posts strong first quarter

Finance News

Betsson Group has reported an 8% revenue rise in Q1 to EUR 170.2 (157.4) million, organic increase of 14%. Casino revenue decreased by 5%. Sportsbook revenue increased by 45% and the sportsbook margin was 8.3%.

EBITDA was EUR 33.4 (35.8) million, a decrease of 7%. The EBITDA margin was 19.6%. Active customers increased by 33% to 1,256,449.

Some years ago, Betsson conducted an extensive review to capitalise on growth opportunities on the gaming market that would maintain profitability. The review resulted in the following strategic cornerstones: growth in existing markets, growth in new markets, strategic additions and acquisitions and investment in Business to Business, B2B. Thanks to a goal-oriented work from our employees, we have been able to take advantage of the growth opportunities identified, which has resulted in increased revenue and healthy profitability.

Betsson’s revenue increased during the first quarter by 8 per cent (14 per cent organic) to EUR 170.2 (157.4) million. Once again, new records were set for sportsbook revenue and in several individual markets. It has been said many times before, geographic diversification makes Betsson’s business less sensitive to disruptions in individual markets.

The launch in March of the proprietary sportsbook in the United States was an important milestone in Betsson’s continued global expansion. The US investment is primarily focused on presenting the US adapted sportsbook to other operators within the framework of the B2B offering. More specifically, we are initially using the Business to Consumer (B2C) offering in Colorado as a showcase for the sportsbook. Many months of hard work from the product and technology teams were required to create a competitive sports product for the American market. Said Pontus Lindwall, CEO Betsson AB.