In Q2, Betsson saw revenue climb by 11.9% from the previous year, driven by record achievements in both Latin America and Western Europe. Revenue for the quarter ending 30 June reached €303.7 million ($352.9 million), according to Betsson’s Q2 report, which beats the €271.5 million from Q2 2024 and is 3.4% above Q1 this year. Record results in Latin America and Western Europe pushed Betsson’s figures, and CEO Pontus Lindwall mentioned the Latin America results more than others.

Revenue in LatAm reached €84.7 million, which is up 35.4%, with strong customer action and the highest ever deposit levels. The group pointed to Peru and Argentina as growth drivers in their regional strategy. Betsson obtained a full license for both online betting and sports betting operations in Brazil in March, adding to the business since buying 75% of Suaposta, a local sportsbook, back in 2019.

Betsson Reports Strong Q2 Performance with Record Revenue in Western Europe

“It is satisfying that our market positions stay strong in these countries because of our strategic, tactical activities and product development we target,” Lindwall commented. In Western Europe, Betsson set a Q2 record for revenue at €59.3 million, up 35.6% and pushed by performance in Italy and developing business in France, though Belgium’s numbers were a bit lower. Revenue for Central and Eastern Europe and Central Asia (CEECA) was €118.2 million, 3.7% higher than before, which keeps this region as Betsson’s main income area, with growth spreading to Latvia, Lithuania, Croatia, Greece, Georgia, and Poland.

By contrast, in the Nordics, Betsson’s home region, revenue fell by 28.4% to €33.9 million due to less money spent on marketing and that region was down in Q1 too. Rest of World delivered €7.6 million in revenue in Q2, which is up 93.7% year-on-year, and Betsson credits a stronger sportsbook profit and the Sporting Solutions purchase from August 2024. CEECA provided 39% of Betsson’s Q2 revenue, Latin America made up 28%, Western Europe contributed 20%, and Nordics brought 11%, with Rest of World at 2%.

Casino delivered €212.4 million in revenue for the group, an 11.1% rise and equal to 70% of all revenue, though turnover rose just 0.9% to €9.05 billion. Sportsbook income jumped 14.9% to €90 million, which accounts for 29% of Betsson’s Q2 revenue, even as its total bet turnover dropped 4.3% to €1.47 billion. Other products such as poker and bingo, saw revenue fall 35% to €1.3 million, just 1% of total.

Local Market Gains Offset Customer Losses in Betsson’s Q2 Performance

Income from locally controlled markets went up by 33% to €199.6 million, or 65.7% of overall revenue. Deposits reached €1.49 billion in Q2, 4.4% more than last year, but active customers were down 1.4% to 1.3 million and total registered customers dropped 3.7% to 30 million, which Betsson attributed to market withdrawals.

Lindwall spoke in the Q2 earnings call about Betsson’s M&A plan and what is next.
Towards Q2’s end, Betsson cancelled its planned buy of Holland Gaming Technology and Holland Power Gaming. The group explained that Dutch gambling regulator Kansspelautoriteit (KSA) had not finished the approval in the agreed time, so Betsson decided to end the deal. However, Lindwall said mergers and new buys still fit in Betsson’s ideas, and several options are being checked now.

Betsson Reports Double-Digit Profit Growth amid Higher Taxes and Costs

“We now have a stronger balance sheet than ever for M&A,” he said. “We see chances to build up our position in the markets we are in today or go to new ones with a buy,” he explained. Betsson’s services cost rose 16% in Q2, mainly because of higher gaming tax in some markets, and operational costs also grew 10.8% through increased spend on marketing and staff. Revenue gains still lifted operating profit by 7.6% to €69 million, pre-tax profit reached €63.7 million, up by 11.6%.

Income tax came in at €14.6 million, and net profit was €49.2 million, up 10.8% from last year, while EBITDA stood at €161.8 million, 8.5% higher. Looking over the six months ending 30 June, similar growth showed: revenue rose 14.9% to €596.3 million, with operating profit up 9% to €133 million, even with rising costs. After all finance items, pre-tax profit was €125.5 million, up by 12.5%, tax was €28.2 million, and net profit stood at €97.3 million, an 11.6% gain, with EBITDA 8.4% higher at €84.1 million. “We start Q3 with good progress and feel confident,” Lindwall explained. “With a focus on growing our product range, data-based marketing, and responsible play, Betsson aims for continued profitable growth.”