Betsson Forecasts Record Earnings for the Second Quarter of 2023

Betsson AB expects record earnings in the second quarter of 2023.

Betsson published their trading report ahead of the release of second quarter 2023 results, which indicated that it expects revenue in the range of €235.5 million to €237.5 million for the period.

Stockholm-listed Betsson delivers strong second-quarter results thanks to customer activity in casinos and sports betting, setting a new record operating income.

Betsson says it expects EBIT (earnings before interest and taxes) in the range of 53.5 to 55 million euros in the second quarter. This success is attributed to the increase in revenue and the company’s efficient business model, which allows it to scale.

The operator’s provisional margin for the second quarter is expected to be around 8.2%, in line with the previous year’s figures (8.3% in the second quarter of 2022) and above the moving average of the past eight quarters (7.8%).

The Betsson group’s revenue increased in all regions compared to the previous year, with a distribution approximately as follows: 22% for the Nordic countries, 22% for Latin America, 11% for Western Europe, 43% for Central and Eastern Europe and Central Asia, and also two percent for the rest of the world.

It is expected that the income from licenses for the supply of the system to B2B customers will be between 64 and 65.5 million euros, which is approximately 27% of the group’s total income.

Currently, in the third quarter, through July 9, the average daily income increased by 13.7% compared to the full third quarter of 2022. The average daily income for this period is 22.6% higher than the average daily income for the full third quarter of 2022, adjusted for currency fluctuations and acquisitions.

In addition, on July 5, Betsson completed the acquisition of the Belgian operator betFIRST.

Betsson’s full Q2 2023 report will be released later this month on July 20th.

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