Key points:
- Betsson’s Q4 2024 revenue reached €306.8m, a 22% increase year-on-year, with organic growth of 48%
- Casino revenue increased by 17%, while sportsbook revenue grew 36%, with a sportsbook margin of 9.8%
- FY24 revenue surpassed €1.1bn for the first time, up 17% from 2023
Betsson AB has reported a 22% year-on-year increase in revenue for Q4 2024, reaching €306.8m ($317.9m), as the company continues its strong growth trajectory across key markets. The quarter saw a 17% rise in casino revenue and a 36% increase in sportsbook revenue, with a sportsbook margin improving to 9.8% from 6.2% the year prior.
For the full year, Betsson’s total revenue surpassed €1.1bn for the first time, marking a 17% increase. Operating income (EBIT) grew by 22% to €256.7m, while EBITDA rose 20% to €316m. The company’s operating cash flow increased to €272.9m for FY24, allowing for an increase in dividend payouts to shareholders, with a proposed ordinary dividend of €0.657 per share and a special dividend of €0.10 per share.
Growth in key markets and strategic investments
Betsson’s growth continues to be fueled by its expansion in Latin America, Central and Eastern Europe and Central Asia (CEECA). The company has established a strong presence in these regions, leveraging its proprietary technology platform and sportsbook solutions to drive engagement. The Q4 results also build on Betsson’s strong Q3 2024 performance, where revenue climbed 18% to €280.1m and active customers increased by 10% to 1.4 million.
During Q3, the company expanded its brand presence through key sponsorships, including becoming the front-of-shirt sponsor for Serie A champions Inter Milan and securing an official betting partnership with the Nordea Open. The company’s strategic acquisition of Sporting Solutions from La Française des Jeux (FDJ) in Q3 further strengthened its sportsbook capabilities, enhancing trading and risk management solutions.
Casino and sportsbook performance drive record revenue
Betsson’s casino segment remains the largest contributor to revenue, with casino revenue increasing 17% in Q4. The company continued to invest in its gaming platform, launching new casino games and cross-selling features between sports betting and casino offerings. The sportsbook segment recorded significant growth, with a 36% increase in revenue in Q4, driven by higher margins and increased betting activity. This follows strong sportsbook performance in Q3, where sports betting revenue rose 8% to €68.3m. Customer deposits and gaming turnover hit all-time highs in Q4, continuing momentum from Q3, where Betsson posted its eleventh consecutive quarter of EBIT growth.
Good to know: Betsson's share price increased by 6%, reflecting investor confidence following the company's record-breaking financial performance in 2024. Financial strength and dividend growth
Betsson’s financial performance in 2024 reflects strong profitability and cash flow generation, allowing the company to increase dividends while continuing strategic investments. Operating cash flow for FY24 rose to €272.9m, reflecting an 18.5% increase, while net income increased by 6.2% to €183.7m. The company’s net debt, however, rose from -€59.6m to -€139.8m, an 84.2% increase.
Market outlook and future growth plans
Looking ahead to 2025, Betsson plans to continue its geographic expansion and product innovation strategy. The company’s focus on Latin America and CEECA will remain central, as these markets continue to offer strong growth opportunities. Additionally, the company has plans for further sportsbook enhancements following the successful rollout of new bet builder features in 2024, which helped drive record-breaking betting activity during major football tournaments such as the UEFA Euros and Copa América.
As the company continues to scale its operations, its ability to navigate regulatory environments and capitalise on emerging opportunities will be crucial in maintaining long-term profitability and shareholder value.
