Key points:
- Betsson AB has reported a revenue of €293.7m for Q1 2025
- This revenue rise of 18% YOY was spurred on by increases in both sportsbook and casino revenues
- CEECA remained Betsson’s largest market by revenue, however the operator reported 70.3% revenue growth in LatAm
Betsson AB has released its Q1 2025 financial results, highlighting a revenue rise of 18% year-on-year to €293.7m ($344.9m) primarily driven by positive results from its casino and sportsbook company sectors.
Specifically, revenue from Betsson’s casino segment rose by an identical 18% when compared to results from the first quarter of 2024, settling at €212.3m and complemented by a sportsbook revenue of €79.9m – up 22% from the year prior.
Q1 2025 results
EBITDA also saw an upswing of 9% year-on-year, resting at €77.7m for the year’s initial quarter, while gross profit rose by 15% to a figure of €187.9m, with a margin of 64% down 2% from Q1 2024. Elsewhere, Betsson AB’s number of active customers was up 7% year-on-year, with total deposits rising 15% to a total of €1.59bn.
Indeed, positive increases year-on-year in both casino and sportsbook also spurred on a sportsbook margin of 8% - up from the 6.6% recorded in Q1 2024. Operating incomes rose 11% to €64m - paired with a margin of 21.8%, down from the 23.3% recorded the year prior.
Despite numerous positive increases for Bettson AB, net debt increased by 89.2% year-on-year, settling at €177.8m for the initial quarter of the year.
Results by region
As specified by the company, heavy investment in the LatAm region this quarter saw the region account for 25% of the operator’s overall revenue figure – generating a total €74.5m, up 70.3% year-on-year. Specifically, the company reported strong quarterly performances in both Argentina and Peru – and has specified that the impact of its newly obtained Brazilian licence will be evident in results from the second half of 2025.
However, by far Betsson AB’s primary revenue driver for the quarter was the Central & Eastern Europe and Central Asia (CEECA) region, which generated a total revenue of €122.3m – up 11% when compared to results from the first quarter of the year prior. Revenue rises in Croatia and Greece offset decreases in the like of Lithuania, Estonia and Georgia.
Nevertheless, Greece reported record quarterly deposits, sportsbook and casino turnover for Betsson – with the company also posting an all-time high revenue from the Italian market during the year’s first quarter.
Good to know: Betsson's FY 2024 revenue hit €1.1bn - exceeding the €1bn mark for the first time
CEO’s comments
Betsson AB CEO, Pontus Lindwall, reflected on the quarter, saying: “The start of the year has been strong with continued high customer activity and profitable growth for Betsson. Despite fewer days and seasonal effects, new record levels were reached for customer deposits and gaming turnover during the first quarter. The Group's revenue increased by 18 percent and operating income (EBIT) increased by 11 percent during the quarter.
“The sequentially lower levels compared to the previous quarter can be explained by the lower sportsbook margin, which was 8.0 percent compared to 9.8 percent in the fourth quarter of 2024.
“Betsson's ambition is to create long-term stable profit growth through geographical diversification and growth initiatives in existing and new markets. Latin America, in particular, continues to be an important growth region where we are continuously strengthening our positions. “
Gambling Insider spoke exclusively to Pontus Lindwall about Betsson AB's latest results in an interview which will be featured in this week's GI Friday...
