Net income was up to €50.1m (€43.4m) in Q3 and €147.5m (€130.6m) for the first nine months of the year. EBITDA, meanwhile, rose 3% from €80.3m to €82.5m in Q3 and 6% from €229.5m to €244.4m year-to-date.
“In the third quarter, revenue increased by 6% and operating profit by 4% compared with the corresponding period last year,” said Pontus Lindwall, Betsson AB CEO. “With the customer in focus, Betsson continues to drive the digitalization of the gaming market globally.
“We have a proven, successful product portfolio consisting of both casino and sports betting, as well as a well-diversified mix of revenues from different geographical regions, which lowers the risks of periodically weaker developments in individual products or markets.”
Italy and LatAm lead the way for Betsson
Geographic diversity may have been Betsson’s saving grace this year, in the context of the aforementioned tax raises.
The firm was planning on getting in on the burgeoning Netherlands market, but withdrew from its planned takeover of Holland Gaming Technology – in doing so swerving the hefty taxes that have caused many a headache for licence holders.
Central and Eastern Europe and Central Asia (CEECA) stands out as Betsson’s biggest revenue generating region, with revenue up 2.6% from €116.3m to €119.3m. Croatia and Greece in particular saw ‘all-time high revenue’ in Q3, with casino leading the former and both casino and sportsbook contributing to the latter.
Lithuania and Latvia also saw an increase in revenue, though Betsson may be closely monitoring the latter as well as Croatia due to the new tax regime coming into effect. Also, the CEECA picture wasn’t entirely pretty with Georgian and Estonian revenue down from Q3 2024.
Western Europe saw the most substantial revenue growth though, up 27.3% from €44.7m to €56.9m, with Italy the biggest growth driver here. With the country set to implement a new licensing framework from 13 November, with 46 companies in total holding 52 licences, the market is widely expected to stand out as a growth driver for various companies.
The Swedish company outlined all-time revenue from Italy in Q3, suggesting that the country will likely become a core, revenue driving market for the company over the coming years. This is likely offsetting difficulties encountered in other Western European markets like Belgium, where revenue dropped year-over-year.
Nordics revenue, meanwhile, was down nearly 20% to €36.4m from €45.3m, though this is probably not causing many sleepless nights for company leadership, which has appeared far more preoccupied with Western Europe, CEECA and Latin America.
On the topic of this latter region, the group’s Latin American revenue rose 10.2% from €69.4m to €76.5m, with casino leading the way while sportsbook hit some hurdles due to ‘seasonal variations’.
Growth was seen across Argentina, Peru and Colombia, while a gradual market launch in Brazil is still underway – though it remains to be seen as to what impact tax changes could have on Betsson’s Latin American outlook.
Platform of growth
2025 trading saw Betsson issue no formal corporate guidance. However, leadership underscored the group’s proven ability to outperform market benchmarks, with year-to-date revenues of €893m and EBITDA of €244m, providing a solid platform to surpass FY2024’s totals of €1.1bn in revenue and €315m in EBITDA.
\“Betsson reiterates its long-term ambition to grow faster than the market, in a profitable and sustainable way, focusing on regulated markets, B2B expansion and technology investments.”
Leadership remains focused on executing new market entries, enhancing localised platforms, tightening cost controls, and advancing its proprietary IPs and technology capabilities.
Technology appears high on its future agenda, with the firm identifying an expansion of a B2B product as a key growth opportunity. It has set an objective of investing in and developing its tech platform and sportsbook to achieve this goal.
Betsson has been able to ride out the regulatory and tax headwinds that have impacted the industry in Q3. However, with geographic diversification clearly having a positive impact on Q3 revenues, the firm also seems keen to further diversify its product range from B2C sportsbook and casino to B2B offerings as a way of ensuring this growth continues.
Lindwall concluded: “On the product and technology side, we continued to strengthen the customer experience through new gaming apps, further development of our own platform’s flexibility and performance, and the launch of new casino games and new features in the sportsbook, such as early win payouts for placed bets.
“I look forward with confidence to the end of the year and ahead to 2026 with the upcoming World Cup in football. Our strong balance sheet enables continued investments in product development and strengthened market positions to support continued stable profit growth and dividends to our shareholders.”
Dingnews.com 24/10/2025