In 2024, the company's revenue increased by 17 percent year-on-year to reach EUR1100m.
Sweden.- Betsson Group announced its financial results for the entire year of 2024, which show an increase in revenue and operating profits for the company, along with an expansion in the Latin American market.
The report reveals a 17 percent growth in total revenue, reaching a record of EUR1.100m, driven by a historic performance in the last quarter of the year. It is the first time the company has surpassed EUR1.000m in annual revenue.
The management team closed a record year with an operating result (Ebit) of EUR256m, up 22 percent, with an Ebit margin of 23.2 percent. Meanwhile, the net profit reached EUR183.7m.
Revenue in the fourth quarter increased by 22 percent year-on-year to EUR306.8m, the first time Betsson's quarterly revenues have exceeded EUR300m, as casino revenues grew by 17 percent to EUR213.9m.
The gross turnover of sports betting was 2 percent higher at EUR1.710m, and sports betting revenue increased by 36 percent to EUR91.3m thanks to a higher sports betting margin of 9.8 percent (fourth quarter of 2023: 6.2 percent). Revenues from other products, including poker and bingo, fell by 24 percent to EUR1.6m.
Active customers at the end of the fourth quarter were slightly higher than the same period last year, with 1,348,392, compared to a registered customer base of 29.4 million, which was 1 percent lower due to Betsson's decision to exit certain markets.
Geographically, Betsson recorded the highest growth in Latin America, as fourth-quarter revenues increased by 47 percent to a new high of EUR78.2m, with growth in Peru, Argentina, and Colombia.
Revenues from Central and Eastern Europe and Central Asia (CEECA) increased by 24 percent to EUR132.2m, also a record, following record results in Georgia, Lithuania, Croatia, and Greece. Revenues in Estonia remained stable compared to the previous year, while revenues from Latvia decreased.
Revenues in Western Europe grew by 26 percent to EUR52.7m following growth in Italy and Belgium, while revenues from the Nordic countries decreased by 14 percent to EUR40m, driven by lower activity in casinos. Revenues from the rest of the world remained unchanged compared to the previous year at EUR3.7m.
Revenues from locally regulated markets increased by 58 percent to EUR182.6m in the fourth quarter, accounting for 59.5 percent of the group's revenues.
The chairman and CEO of Betsson, Pontus Lindwall, stated: "As we leave behind 2024, we can conclude that it was the best year in history for Betsson, where we continued to strengthen our position as one of the global leaders in gaming and betting."
He added: "The year was characterized by high growth, strengthened profitability, and strategic investments in line with our long-term goals and our vision to offer the best gaming experience in the industry."
