Betsson report record full year revenue of €948.2 million

Finance News

Betsson Group has reported full year revenue of EUR 948.2 (777.2) million, an increase of 22%. Organic increase of 36%.

Casino revenue increased by 25%. Sportsbook revenue decreased by 5% and the sportsbook margin was 6.2% (7.3%). EBITDA was EUR 71.9 (51.1) million, an increase of 40%.

The EBITDA margin was 28.6% (23.2%). Operating income (EBIT) was EUR 57.0 (40.0) million, an increase of 42%. The EBIT margin was 22.6% (18.1%). Net income was EUR 43.3 (32.7) million, corresponding to EUR 0.30 (0.26) per share. Operating cash flow was EUR 47.6 (75.5) million.

“A new record year for Betsson ended with continued high customer activity and record-strong figures in the fourth quarter”

Recently we celebrated the fact that it has been 60 years since the Group started to offer entertainment in the form of casino games, sports betting and other types of games. In recent decades, we have been leading the digitalisation of the gaming industry with the transition to online gaming. We continue to find our own ways and act as pioneers in everything we do. When we sum up the jubilee year 2023, we can look back on a new record year for Betsson. Several important strategic initiatives were taken to strengthen the product offering, manage risks through geographic diversification, and to create the conditions for continued profitable growth with an increased share of revenues from locally regulated markets.

For the full year 2023, revenue increased by 22 percent to EUR 948 million and operating profit (EBIT) increased by 60 percent to EUR 211 million, which corresponds to an operating margin of 22.2 percent. For the full year, operating cash flow amounted to EUR 230 million, which means that the year ended with a net cash position of EUR 60 million. The strong cash flows of the business and the solid balance sheet allow us to continue paying out attractive dividends to our shareholders and investing in future growth. The Board proposes a 48 percent increase in the dividend for 2023 to EUR 0.645 per share.

The high customer activity continued during the fourth quarter with new record levels in customer deposits and gaming turnover in both casino and sports betting. Once again, the Group reports the highest levels ever for revenue and operating profit, marking the eighth consecutive quarter of sequential growth. The growth rate compared to the fourth quarter of the previous year should be viewed in light of the fact that the comparative period included the World Cup in football.

The football results continued to be favourable for players with favorite wins and plenty of goals, leading to the quarter’s sportsbook margin of 6.2 (7.3) percent being the lowest reading for a single quarter in the past two years. Our vision is to offer the best customer experience in the gaming industry and an important feature of this is that we always offer competitive odds and chances for our customers to win. This simply means that sometimes players win a bit more and the sportsbook margin varies from quarter to quarter, depending on the sports results.