Betsson AB continues to deliver on its commercial targets against changing market dynamics, as leadership believes it has the best strategy to capture global growth opportunities.
The Stockholm-listed gambling group continues to maintain its commercial momentum, with Q2 corporate revenues standing at €303 million, up 12% from the 2024 comparatives of €271 million, demonstrating its ability to sustain profitable growth in the face of macroeconomic conditions and regulatory headwinds across key markets.
Reflecting on performance, CEO Pontus Lindwall stated: “In the second quarter of 2025, we continued to deliver value to customers, partners, and shareholders. Revenue increased despite the tough comparatives from last year’s UEFA Euro and Copa America. This speaks to the strength of our diversified market presence and resilient business model.”
Enhancing corporate efficiencies, Q2 trading saw Betsson generate an underlying EBITDA of €84 million, up 8% from the 2024 results of €77 million, as Q2 net profits grew by 8% to €69 million (Q2 2024: €64 million). Earnings per share increased to €0.36, supported by operational improvements and ongoing cost discipline.
Betsson’s product performance continued to show dominance from its online casino vertical, which generated €212 million in revenue, representing an 11% year-over-year increase. The casino division accounted for 70% of the group’s revenue, buoyed by the launch of 400 new titles and enhancements to its live casino offering.
Meanwhile, sportsbook revenue grew by 15% to €90 million, supported by a significantly improved margin of 9.5% (Q2 2024: 8.6%), even as overall betting turnover dipped by 4% against the Euro 2024 peak.
“The sportsbook margin improved notably this quarter, and we continue to expand our range of live bets and Betbuilder functionality,” Lindwall added. “This is key to driving engagement and growth in competitive regulated markets.”
H1 results saw Betsson report consolidated revenues of €597 million, up 15% from the previous year’s €520 million. EBITDA reached €162m, with operating income rising to €133 million and net income totalling €97 million.
The group maintained a healthy EBITDA margin of 27.1% while delivering a strong cash flow of €127.5 million. The Annual General Meeting approved a total dividend distribution of €104.4 million, including a €0.10 per share special dividend.
Regionally, Betsson’s growth was spearheaded by its performance in Latin America, where revenues increased by 35% to €84.7 million, driven by record turnover in Peru and Argentina.
In Western Europe, revenues increased by 36%, with Italy achieving an all-time high, driven by robust casino and sportsbook activity. CEECA markets posted moderate growth of 4%, with strong showings from Croatia, Lithuania, and Poland offsetting softer performances in Estonia. Meanwhile, the Nordics experienced a 28% decline in revenue due to reduced marketing investment.
“It is gratifying to see how we continue to strengthen our leading market positions in countries like Peru and Argentina through both strategic and tactical initiatives,” Lindwall said. “We are focused on building long-term presence and scale in each of our priority regions.”
Throughout the period, Betsson showcased its technical prowess across various markets, achieving key milestones, including the launch of a new mobile app in Argentina, the rollout of its flagship platform in Georgia and Lithuania, and the integration of its proprietary sportsbook with Belgian operator BetFirst.
“Our technical platform is built for scale and flexibility. We continue to optimize user interfaces, payments, and product delivery to match the demands of each market,” Lindwall noted. “The success of our new app in Argentina and sportsbook integration in Belgium demonstrates this capability.”
Betsson’s expansion across multiple markets, while generating substantial revenue, has led to increased expenses, however. This has primarily been attributed to exposure to higher gaming taxes across multiple markets and investment in expansion plans.
Addressing investors in its H1 earnings call, Pontus Lindwall emphasised that Betsson’s expenses are partly ‘investments that cater for future growth opportunities’ while also remaining confident that its margins “are strong in this business compared to comparable companies”.
“I think we have good margins, and everybody knows that as we take on more and more regulated markets, we will carry more tax burdens, and the increase in regulated revenue was quite high year over year in this quarter. It was quite strong, and it has an impact on the margin.”
Betsson’s leadership maintains confidence in its long-term growth strategy, underpinned by its proprietary technology, a diversified geographic footprint, and targeted brand expansion.
With 18 consecutive quarters of revenue and earnings growth and a trading update indicating further gains in Q3, Betsson enters the second half of 2025 with clear commercial momentum.
“With a constant focus on product development, data-driven marketing and responsible gaming, we are well placed to continue delivering profitable growth,” Lindwall concluded.
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