Exclusive: Betsson CEO unpicks Q2 ahead of a H2 ‘ramp up’
Betsson CEO Pontus Lindwall speaks to Gambling Insider about the operator’s Q2 results, diving into key regions and sponsorships during the quarter – as well as plans for the rest of the year.
First, could you give us an overview of what you believe are the key highlights of the company’s Q2 & H1?
It’s a very solid report; our second-best quarter ever in terms of revenue and profits. We’re also pleased because the regions that we have really focused on during H1 have shown strong growth – which is something which we are very happy about. The company is investing a lot in new technology developments, taking on more staff both via employment and acquisition strategies. Combined, given our current cash flow metrics and our financial structure, we are also in a good position for more potential M&As – but we’ll see.
Drawing a regional focus, you named Peru and Argentina as key drivers. How do you think your long-term sponsorships with local clubs like Boca Juniors have helped you in the region?
It’s a mix of a lot of things: Our product, our staff and the people who work in these regions as well. The fact that we are sponsors of these kind of clubs is a very good sign that the company is in a good place. Also, we always want to give back to the sport because we love sports ourselves, so it’s a good position to be in and obviously an important part of our marketing mix is to do those sponsorships.
Elsewhere in LatAm Q2 was your first full quarter in the Brazilian regulated sports betting landscape – how do you reflect on the progression of operations in the region?
We are launching a little more slowly in Brazil because we know that every time there’s a newly opened market with regard to regulation, the road can be a little bit bumpy initially.
These results leave us in a good position, and I look forward to the ‘ramp up’ from August and onwards for the rest of the year
This could be because everybody wants to grab market share, or there are a lot of adjustments on the regulatory side and, most importantly, you need to get your own product right, which no one can claim to do from day one because it needs to be optimised. We are optimistic about the future, but obviously as we entered the region quite recently, Brazil hasn’t had any impact on the figures as of yet.
Just before the end of Q2, you snuck in another football sponsorship deal to add to your portfolio with Club Brugge. Can you tell us a little bit about this collaboration and any more you may have on the horizon?
It’s the first time we have drawn up a sponsorship deal in Belgium, obviously we are present in the market so that will help us in the push forward there. This particular club has also performed well in Europe – but we will see how they perform this autumn. From the business side, the Club Brugge deal allows for additional representation for our brand via the football shirts of some great clubs playing both national and international football. We’re happy about this latest sponsorship and we will see what more is yet to come in that area.
How exactly will these latest financial metrics now inform your approach for the rest of the calendar year?
Right now, it’s a little bit of a slow period in the sports calendar. It will certainly pick up in mid-August, towards the end of the European football break when we will see more activity. Right now, we have a lot of things going on internally regarding product development and new features.
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