written and last updated by
Sam Smith at
26 Oct 2022
Journalist, Editorial Department
Betsson has announced its "best quarter ever," reporting revenue of €200.3 million ($199.6 million) for the period. Overall, profits increased by 18% year-on-year, with a 35% organic growth in brand value.
Casino revenues rose by 8%, but it was sports betting that emerged as the standout performer, with a remarkable growth of 45%. In other segments, operating profit climbed 21% to €38.4 million, while net income reached €32.6 million. Additionally, the total number of active customers grew by 7% to 1,056,400.
Pontus Lindwall, CEO of Betsson AB, stated, "In the third quarter, we continued to see positive momentum with strong growth and profitability for the group as a whole. The company is celebrating new records in revenue and operating profit, driven by both sports betting and casino operations."
Lindwall highlighted that the main growth regions include Latin America, Central and Eastern Europe, and Asia. A significant factor contributing to the profit increase was the high turnover in sportsbooks, partly due to the early start of European football leagues in August 2022. Furthermore, the upcoming FIFA World Cup, set to kick off in November, is expected to have a positive impact on revenue.
Betsson's management expressed satisfaction with the overall profit growth across all verticals. The company noted that its entry into the Dutch market is still pending, as its application for a license is under review. Once approved, Betsson could be poised for new revenue records.
Lindwall also mentioned that his team is eagerly anticipating the results of the fourth quarter, which will undoubtedly be influenced by the World Cup. He remarked that this event could become the largest in Betsson's history.
In related news, Softswiss has launched a new project in collaboration with Spin Samurai.
