Betsson AB announced its strong quarterly results. The company is preparing for the FIFA World Cup, which will close the record-breaking 2022.
The third quarter trading report has been published, according to which the Betsson group’s income amounted to 200 million euros. This result is 18% more than in 2021. The overall growth shows that revenues since the beginning of the year amounted to 556 million euros.
With the early start of the European football season, the group’s betting division has reached the milestone of €1 billion in total betting across all markets.
Against the backdrop of strong competition, the Betsson casino sector continued to gain momentum, with revenues of €135m, up 8% from the corresponding euro figure in 2021.
Pontus Lindwall, Group CEO, said: «We saw a continued positive development during the third quarter with high growth and profitability for the Group as a whole. Betsson reported new records for revenue and operating profit, driven by both sports betting and casino.
The organic growth was 35% compared to the corresponding quarter last year, again generated mainly by the regions Latin America and Central and Eastern Europe and Central Asia (CEECA).»
Growth in Central and Eastern Europe was driven by strong growth in the Baltic markets of Estonia and Lithuania and in the central European markets of Greece and Croatia.
In terms of strategic importance, Betsson says adding local mass-market brands Big Bola Mexico and ColBet Colombia to its South American online portfolio will boost performance.
Growth in Central and Eastern Europe and Latin America allowed Betsson to continue to overcome adverse factors in Western Europe, where sales fell by 29%.
Lindwall added: «Betsson continues to deliver on the growth strategy, which is based on geographic expansion and diversification, and in August an online casino offering was launched on the regulated market in Mexico.
This is a soft launch so far, but marketing will increase during the fourth quarter and especially during 2023 and we see considerable potential for this market in the long term given the size of the economy, the population, and the low level of online gaming penetration in the country.»
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