Betsson’s share price fell close to 20% to SEK108.10 (€10.08) per share during trading on 16 January, causing concern as Q4 revenue showed a year-on-year decline.

Betsson announced preliminary fourth quarter revenue of €304m, creating unease as the figure moved down from €307m recorded during the same period last year. Operating income decreased from €70m to €53m in Q4 2024, reflecting impact from gaming taxes and personnel costs on group profitability. Management said the outcome reflects shifts in business mix, as regulated market revenue reached 68% of total revenue compared with 60% last year. Even with revenue decline, Betsson reported more active players than last year, supporting confidence through customer engagement across multiple markets.

Western Europe and Latin America supported revenue growth, while the Nordic region, Central and Eastern Europe and Central Asia showed reduced momentum. CEECA revenue declined to €120m from €132m, linking enforcement activity in Turkey with a share price decline during the previous summer period.

Betsson Delivers Uneven Regional Results

Pontus Lindwall stated that Betsson operates across many markets, expressing confidence as development continues alongside increased personnel costs from product investment. He expressed optimism toward 2026, pointing to the FIFA World Cup and expected returns from product development investment already undertaken. Casino revenue grew to €220m from €214m; in the same token, sportsbook revenue went down to €83m from €91m, which in turn saw the margin drop to 8.8% from 9.8%. B2B revenue fell from €82m to €71m, which is 23% of group revenue as opposed to 27% in the past reporting period.

Gaming taxes increased to €53m from €43m, while personnel costs rose to €52m from €45m due to workforce expansion and non-recurring items. Gross margin declined from 65.3% to 60.5%, while average daily revenue in early 2026 exceeded the full first quarter of 2025 by 1%. Betsson confirmed publication of its full fourth quarter report will take place on 5 February.