Betsson banks 2024 as ‘Best Year in Business’ driven by product & localised growth

Betsson AB has achieved its “best year in business” as it celebrates a seventh consecutive year of corporate growth.

Posting a strong close to 2024 trading, the Stockholm-listed online gambling group achieved Q4 revenues of €306m, up 22% on 2023 comparatives of €251m.

Headline growth saw Betsson achieve the milestone of generating over €1bn in group revenues for full-year 2024, closing at €1.1bn (FY2023: €950m).

A record year is closed by leadership declaring an operating income (EBIT) of €256m (+22%), with an EBIT margin of 23.2%.

Net income reached €183.7m, with EPS at €1.32. Operating cash flow stood at €272.9m, as Betsson’s board proposes an ordinary dividend of €0.657 per share, alongside a special dividend of €0.10 per share.

Group CEO Pontus Lindwall deemed 2024 a year of multiple highlights and achievements, “characterised by high growth, strengthened profitability and strategic investments in line with our long-term goals and our vision to offer the best iGaming experience.”

Product investments paying optimal growth

Underscoring group results, product investments in online casino and sportsbook helped Betsson achieve optimal gross profits, with revenues reaching €200m for Q4 and €719m for FY2024 trading.

A breakdown of product segments saw the online casino unit achieve an all-time high wagering turnover of €9.4bn, which management attributed to higher live casino engagement and customers engaging with localised services.

The Online Casino unit maintained its ‘record-on-record’ trajectory, generating Q4 revenues of €213m (Q4 2023: €183m)—approximately 69% of total group revenue contributions.

Boosted by a record trading margin of 9.4%, the sportsbook unit continues to diversify Betsson’s headline income, generating record revenues of €91m (Q4 2023: €63m).

Product segments were elevated by Betsson maintaining the peak-performance KPI of servicing 1.35m active customers during Q4, with deposits across its brand portfolio reaching €1.5bn (+13%).

Pontus Lindwall reflected: “Our investments to strengthen the product offering and increase brand awareness contributed to the excellent results for the year. For the full year 2024, we passed one billion euros in revenue for the first time, which was 17 percent higher than the previous year.”

“At the same time, the EBIT margin strengthened to over 23% thanks to our scalable business model and continued cost control. During the fourth quarter, we saw sustained high customer activity in both casino and sports betting. New records were set across the board at a group level—customer deposits, gaming turnover, revenue, and EBIT were the highest ever in a single quarter.”

Norway Exit, Italy Growth and LATAM fast charge 

Year trading sees Betsson maintain a “globalised strategy”, in which leadership targets growth in locally regulated markets and those with a clear path to local regulation.

In the Nordics, Betsson reported a 13% decline in revenues to €40m, attributed to lower casino wagering. Period trading saw leadership announce the ‘phase-out’ of brands active in Norway.

Continued declines in the Nordics were offset by record growth in Italy, helping Betsson’s Western European segment achieve €52m (Q4 2023: €43m). In 2025, Betsson will double down on its Italian investment, having launched its multi-product Betsson Italia brand.

Central & Eastern Europe & Central Asia remains Betsson’s largest market, generating €132m in revenue (↑23% YoY from Q4 2023’s €107m), driven by strong sportsbook margins and casino growth, with record highs in Georgia, Lithuania, Croatia, and Greece.

Meanwhile, Latin America maintains Betsson’s highest growth trajectory, with all-time high revenue of €78m (Q4 2023: €54m), driven by strong casino performance and higher sportsbook margins, with notable growth in Peru, Argentina, and Colombia.

Betsson provided no comment on developments related to the launch of the Brazil Bets market. However, prospects in South America are emboldened by Betsson extending its sponsorship of Boca Juniors FC in Argentina until 2028.

No guidance yet on 2025 proceedings 

Company leadership has yet to provide guidance for FY2025 trading, as CEO Pontus Lindwall concluded: “We continue to forge new paths and act as pioneers in everything we do, and we look forward to continuing our growth journey in 2025. Geographic expansion and diversification remain key priorities, and we have a full pipeline of activities to support continued growth.

“With disciplined capital allocation, promising strategic initiatives, and our commitment to strengthening the customer experience, we are confident that we can continue to create long-term value for our shareholders and customers.

“I would like to thank our employees for their dedication and hard work, which have been instrumental in our continued growth over the past year. We have a fantastic team that continues to deliver exceptional results, and their passion and expertise, combined with our strong corporate culture, position us well for the future.”