Betsson AB presented its third-quarter 2026 results on October 22, revealing a quarter of contrasts as the online gaming operator achieved record revenue while grappling with significant margin compression.

The presentation highlighted the ongoing transformation of Betsson’s business model as it shifts toward regulated markets and expands aggressively in Latin America, while facing the profitability challenges that come with operating in higher-tax jurisdictions.

As shown in the following comprehensive overview of financial metrics, Betsson reported several all-time records in Q3 2026 despite profitability headwinds.

Group revenue reached €327 million, representing a 10% year-over-year increase and marking the company’s strongest revenue quarter ever. However, EBIT fell 31% to €46 million, with the EBIT margin compressing to 14.1% from 22.6% in the prior-year period.

The company’s B2C business continued to serve as the primary growth engine, posting €280 million in revenue—a 28% year-over-year increase and another all-time high. Active customers surged 40% to 1.9 million, while customer deposits grew 6% to €1,545 million.

Casino revenue climbed 14% to €254 million, while sportsbook revenue showed more modest growth of 1% to €72 million. Operating cash flow declined to €55 million from €65 million in the prior-year quarter.

The revenue mix showed casino accounting for 77% of total revenue, sportsbook at 22%, and other products at 1%. Sportsbook turnover increased 8% while the sportsbook margin compressed to 8.1%, below the last-two-year average of 9.0%. Casino turnover grew 7%, translating to the 14% revenue increase.

Gross profit declined to €181 million from €190 million year-over-year, with the gross margin falling to 55.5% from 64.2%. This margin compression reflects higher gaming taxes, the shift toward B2C business, and increased payment service costs.

Latin America now accounts for 36% of total revenue, making it the company’s largest region. CEECA (Central and Eastern Europe and Central Asia) represents 30%, Western Europe 20%, the Nordics 10%, and rest of world 4%.

On a year-over-year basis, reported revenue grew from €296 million in Q3 2025 to €327 million in Q3 2026, a 10% increase. Organic revenue growth was 8% after adjusting for €7 million in foreign exchange and M&A effects. Latin America delivered particularly strong performance with 52% year-over-year growth, while Western Europe reached record levels.