SBC News Voice of the Sports Betting Industry
Betsson AB has alerted investors that Q2 2023 will generate the highest revenue ever in a single quarter recorded by the Stockholm-listed online gambling group.
Investors were informed that the operator’s Q2 revenues are expected to be in the range of €235.5m to €237.5m.
The strong financial performance is due to increased customer activity in casino and sports betting, resulting in record-breaking operating profits.
Bottomline results see Betsson expect Q2 EBIT to stand between €53.5m and €55m, a result attributed to higher revenue generation of customers and a scalable business model.
Of significance, Q2 trading registered a preliminary sportsbook margin of approximately 8.2%, in line with Q2 2022 and higher than the eight-quarter rolling average of 7.8%.
Group revenue increased year-over-year across all regions, with the following geographic distribution: Nordics (22%), Latin America (22%), Western Europe (11%), Central & Eastern Europe and Central Asia (43%), and Rest of the World (2%).
Expected revenues from the operator’s licensed markets to B2B customers will amount to €64m to €65.5m, about 27% of group revenue.
Average daily revenue so far in Q3 2023 is up by 13.7% compared to the full Q3 2022, or 22.6% higher when adjusted for currency effects and acquisitions.
Further Period highlights saw Betsson complete the acquisition of Belgium operator betFIRST for €120m – a deal announced after the end of Q2 trading on July 5. Betsson will publish its complete Q2 2023 report later this month, on 20 July.
