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Betsson reports all-time high revenue for Q2 2022

Betsson has reported all-time high revenue for the second quarter of 2022, driven by its sportsbook performance and growth in Latin America and the CEECA region.

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Betsson reported group revenue of €186.3m ($190.4m) for Q2 2022, an increase of 8% from the second quarter of 2021. Casino revenue went up just 1% year-over-year, with sportsbook revenue increasing 22%, with a sportsbook margin of 8.3%.

EBITDA for the period was €39.3m, a year-over-year decline of 16%, with an EBITDA margin of 21.1%. Operating income declined by 23% to €29.2m, while net income was €28.6m, corresponding to €0.21 per share. Active customers meanwhile increased by 21% year-on-year to 1,246,719.

“Betsson’s second quarter featured continued good growth with all-time high revenue and further investments to support our expansion,” said Betsson CEO Pontus Lindwall. “The group’s organic growth was 13%, mainly driven by Latin America and the CEECA region (Central and Eastern Europe and Central Asia), where we see long-term growth potential as these markets still have a low share of online gaming.”

Lindwall also looked to the future, saying: “Despite uncertain capital markets, we recently refinanced our bond until 2025, which gives us financial flexibility to continue investing in both organic growth and selective acquisitions. We continuously monitor the macroeconomic trends but also note that historically Betsson’s business has been relatively unaffected by the general business cycle.

“The first weeks of July are off to a good start and despite the macro factors, we are rather optimistic as we look ahead to the rest of 2022, which has many planned activities for Betsson, including market launches in Mexico and Ontario, as well as the football World Cup during the seasonally strongest fourth quarter.”

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