Betsson predicts at least €199m in Q3 revenue
Betsson expects to report between €199m ($195m) and €201m in group revenue for Q3, which would constitute its second consecutive quarter of record revenue.
Similarly, Betsson’s anticipated EBIT for the third quarter would also constitute an all-time high. It estimates that this will be in the range of €37.5m and €39m.
If these forecasts hold true, Betsson’s top-line will have grown by at least 17% year-on-year, while EBIT will have undergone a minimum 18% increase.
On a sequential basis, meanwhile, Betsson’s revenue will have grown from €186.3m, up by at least 7%, while EBIT will be 28% higher.
In general, customer activity remained high throughout Q3 and is responsible for this expected rise in profitability, Betsson said, alongside a “favourable revenue mix” and “scalable business model.”
Several markets experienced particularly high growth, including Latin America as well as Central and Eastern Europe and Central Asia (CEECA).
This would be consistent with Betsson’s Q2 performance when both regions were key drivers of growth.
However, Q3 also benefitted from an early start to most major European football leagues due to the upcoming FIFA World Cup in Qatar.
Betsson also said it has continued to develop its sportsbook business, though sportsbook margin is expected to remain at 8.3%, consistent with Q2 and Q1 levels.
But this, the company noted, is “somewhat higher than the historical average.” Betsson stated: “The sportsbook continues to develop into a more important part of the total business for Betsson, thanks to investments to strengthen the product in recent years and geographical expansion to several new markets.”
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