Betsson AB reports that its revenue for the fourth quarter of 2024 increased by 22% year-over-year, reaching 306.8 million euros ($317.9 million), as the company continues to maintain strong growth momentum in its key markets.
This quarter, casino revenue grew by 17%, and sports betting revenue increased by 36%, with the sports betting profit margin rising from 6.2% in the same period last year to 9.8%.
For the full year, Betsson's total revenue exceeded 1.1 billion euros for the first time, up 17%. Operating income (EBIT) increased by 22% to 256.7 million euros, and EBITDA grew by 20% to 316 million euros.
The company's operating cash flow for the fiscal year 2024 increased to 272.9 million euros, allowing for an increase in dividends paid to shareholders, with a proposed distribution of 0.657 euros per ordinary share and 0.10 euros per special share.
Betsson's growth continues to benefit from its expansion in Latin America, Central and Eastern Europe, and Central Asia (CEECA). The company has established a strong presence in these regions and leverages its proprietary technology platform and sports betting solutions to drive engagement.
The fourth quarter performance also builds on Betsson's strong performance in the third quarter of 2024, where revenue grew by 18% to 280.1 million euros, and active customers increased by 10% to 1.4 million.
In the third quarter, the company expanded its brand influence through key sponsorships, including becoming the jersey sponsor for Serie A champions Inter Milan and establishing an official betting partnership with the Nordic United Bank.
The company's third quarter also saw strategic acquisitions from La Française des Jeux (FDJ) of Sporting Solutions, further enhancing its sports betting capabilities and enhancing transaction and risk management solutions.
Casino and Sports Betting Performance Reach New Revenue Highs
Betsson's casino business remains the largest contributor to revenue, with casino income growing by 17% in the fourth quarter. The company continues to invest in its gaming platform, launching new casino games and cross-selling features between sports betting and casino products.
The sports betting sector achieved significant growth, with fourth quarter revenue increasing by 36%, benefiting from improved profit margins and increased betting activity. Previously, the sports betting sector had a strong performance in the third quarter, with sports betting revenue growing by 8% to 68.3 million euros.
Customer deposits and betting turnover reached historical highs in the fourth quarter, continuing the positive momentum from the third quarter, with Betsson achieving profit growth before interest and taxes for the 11th consecutive quarter.
Notably, Betsson's stock price rose by 6%, reflecting investor confidence in the company's record-breaking financial performance for 2024.
Financial Strength and Dividend Growth
Betsson's financial performance in 2024 reflects strong profitability and cash flow generation, enabling the company to increase dividends while continuing strategic investments. The operating cash flow for the fiscal year 2024 increased to 272.9 million euros, an 18.5% increase, while net income grew by 6.2% to 183.7 million euros.
However, the company's net debt increased from -59.6 million euros to -139.8 million euros, an increase of 84.2%.
Market Outlook and Future Growth Plans
Looking ahead to 2025, Betsson plans to continue its geographic expansion and product innovation strategy. The company will continue to focus on Latin America and Central and Eastern Europe and Central Asia, as these markets will continue to offer strong growth opportunities.
Additionally, following the successful launch of new betting generator features in 2024, the company plans to further enhance its sports betting features, which will help drive record-breaking betting activity during major football tournaments such as the European Championship and Copa America.
As the company continues to expand its operations, its ability to adapt to regulatory environments and capitalize on emerging opportunities is crucial for maintaining long-term profitability and shareholder value.
