Betsson Achieves Double-Digit Q1 Growth, Driven by Latin America Revenue

Betsson has reported an 18.3% year-on-year increase in group revenue for the first quarter of 2025, fueled by record-high customer deposits. Casino revenue remained the largest contributor to the portfolio, rising 17.6% year-on-year to approximately $241.9 million, which accounted for 72% of total revenue.

Q1 2025 Financial Highlights

• Total Revenue: $334.7 million, up from $282.8 million in Q1 2024, though 4.3% lower than Q4 2024.
• EBITDA: $88.5 million, marking a 9% year-on-year increase, with an EBITDA margin of 26.5%.
• Sportsbook Revenue: Grew 21.6% to $90.8 million, representing 27% of total revenue.

Betsson AB CEO Pontus Lindwall noted strong customer activity and profitable growth at the start of the year. However, the number of registered customers decreased slightly to 30.2 million, down from 30.4 million, due to the group’s exit from certain markets.

Despite rising costs—services up 14.6% and operating expenses up 16.9%—Betsson achieved stable profit growth. Pre-tax profit reached $73.7 million, a 13.4% year-on-year increase, while net profit totaled $57.8 million, reflecting a 13.1% rise after taxes.

Regional Growth Insights

• Central and Eastern Europe: Revenue increased 11% to $142.8 million, driven by record deposits in Croatia and Greece, though declines were noted in Lithuania, Estonia, and Georgia.
• Western Europe: Revenue grew 28.1% to $64.6 million, with Italy achieving record revenue and year-on-year growth in France and Belgium.
• Latin America: The fastest-growing region, revenue surged 70.3% to $88.3 million. Argentina posted record quarterly revenue, supported by strong performances in casino and sportsbook, while Peru also saw growth across both categories.

Outlook

Betsson remains optimistic for Q2 2025, buoyed by its scalable global business model and proprietary technology. The group’s success in 2024, its best year yet, further reinforces its ability to sustain profitable growth moving forward. Lindwall highlighted Latin America as a key growth region, with Betsson continuing to strengthen its presence there.