Betsson shows growth in all regions with €236.8m Q2 revenue

July 20, 2023
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LatAm growth continues for the operator, as casino revenue share also increases.

Betsson AB has released its Q2 financial report, showing a group revenue increase of 27% and an organic increase of 42.6% to reach €236.8m ($186.3m). Betsson also experienced a 46.7% increase in customer deposits year-on-year.

For all of Betsson’s operational subsidiaries’ gaming solutions, customer deposits reached €1.2bn. The total number of registered players is currently 28.1 million, also showing an increase of 12.6%.

Betsson’s share price sits at SEK 116.00 (US$11.31), which has risen 31.9% year-to-date. Its gross profit rose 37% to €162.5m and corresponds to a gross profit margin of 68.6%.

The region generating the most revenue for the company was Central & Eastern Europe and Central Asia (CEECA), bringing in €102.6m, which shows an increase of 68% and makes up 43% of the group total.

Latin America and the Nordics make up 22% each of the total revenue. However, while the Nordics region only increased 0.9%, LatAm revenue is up 12.5%, with growth reported primarily due to the casino product in Argentina and the sportsbook offering in Colombia.

Betsson AB CEO Pontus Lindwall commented, “The geographical diversification continues to serve Betsson well and revenues increased in all regions during the quarter.”

The company has also begun “one of the largest ever sponsorships for Betsson” with Argentinian football club, Boca Juniors, including both men's and women's teams. Lindwall said of this sponsorship, “The club's match shirt will feature the Betsson logo during local and international matches until the end of 2024.

“The collaboration with Boca Juniors strengthens Betsson's brand and expansion in Argentina and throughout Latin America, and we will be following the team's development with excitement together with fans and customers.”

When looking at Betsson’s revenue by product offering, its casino portfolio was responsible for €165.1m, or 70% of the overall revenue. Casino gross turnover reached €8.4bn, which shows an increase of 47.4% year-on-year. Betsson added 305 new casino games, with 21 of those carrying a period of exclusivity for its own brands.

Betsson’s sportsbook made up 29% of the company’s total revenue with €69.5m, and a sportsbook gross turnover of €1.3bn. This shows an increase in both revenue of 12.7% and in gross turnover of 32.4%. Mobile sportsbook revenue made up 85% of the product’s total.

The proprietary platform on which Betsson hosts its gaming sites, Techsson, has seen adaptations and developments this quarter to support a B2B offering. Native apps have been created as well for markets including Sweden and Malta.

Also worth noting, during Q2 89.3% of Betsson active players had activated some form of responsible gaming tool, including: reality checks, self-assessment tests, deposit limits, time limits or self-exclusion. The report says Betsson aims to be an industry “role model” when it comes to creating healthy conditions for players. 

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