Betsson's third-quarter financial report shows that the group's revenue increased by 5.6% to 295.8 million euros, with the Western European market performing outstandingly, with a revenue increase of 27.3%, accounting for 19% of the group's total revenue. The Italian market has become the main driving force for growth, with online casino revenue reaching a historical high. Revenue in the Latin American region increased by 10.2% year-on-year, with casino business reaching a record 56.6 million euros. The group also announced the launch of a stock repurchase plan of up to 40 million euros, emphasizing that it will continue to drive growth through a diversified geographical strategy.
Financial Performance Overview
Betsson's third-quarter group revenue reached 295.8 million euros (approximately 343.5 million US dollars), an increase of 5.6% compared to the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) were 82.5 million euros, up 2.7%; operating profit was 66.9 million euros, up 3.7%. In the nine months ending September 30, the group's cumulative revenue reached 893.1 million euros, an increase of 11.7% year-on-year.
The growth in performance was mainly due to an increase in regulated market revenue, which increased from 58% to 64% of total revenue.
Western European Market Performance
Revenue in the Western European region in the third quarter was 56.9 million euros, up 27.3% year-on-year, accounting for 19% of the group's total revenue, up 3 percentage points from the same period in 2024. The Italian market performed particularly well, with both online casino and sports betting businesses achieving significant growth, setting a record for the highest revenue.
The region's iGaming revenue was 45.7 million euros, and sports betting revenue was 11.1 million euros.
Latin American Business Development
Revenue in the Latin American market increased by 10.2% year-on-year in the third quarter, with the casino business performing strongly, increasing from 46.1 million euros in the same period last year to 56.6 million euros, reaching a historical high. Sports betting revenue decreased to 19.8 million euros year-on-year due to seasonal factors in events.
The region's revenue accounted for 26% of the group's total revenue, with markets in Argentina, Peru, and Colombia all achieving growth.
Strategic Layout and Investment Plan
Betsson CEO Pontus Lindwall stated that the group will continue to promote the digitalization of the global gaming market and reduce market risks through diversified geographical product portfolios. The company plans to use its strong balance sheet to continue investing in product development and consolidate market positions, supporting stable profit growth and shareholder returns.
The group will launch services in Brazil and Paraguay in 2025, further expanding its layout in the Latin American market.
Stock Repurchase Plan
Betsson announced the launch of a stock repurchase plan of up to 40 million euros, managed by Arctic Securities AS on the Nasdaq Stockholm Stock Exchange. The repurchase period is from now until April 30 of next year, aimed at optimizing the capital structure and enhancing shareholder value.
This move shows the company's confidence in its business prospects and financial condition.
Regional Diversification Strategy
Betsson reduces the risk of cyclical fluctuations in individual markets or products by deploying a diversified product portfolio in different geographical areas. The company has mature casino and sports betting product lines, maintaining balanced development in multiple global markets.
The diversification strategy helps the company cope with regulatory changes and demand fluctuations in different markets.
Market Outlook
Lindwall looks forward to growth opportunities brought by major sports events such as the 2026 World Cup. The company's long-term goal is to "outperform the market" sustainably, through existing market growth, new market expansion, and B2B product development.
The group will maintain its investment in product innovation and market expansion.
Regulated Market Performance
Revenue from local regulated markets increased by 16% in the third quarter, showing the company's advantage in compliant operations. As the global gambling regulatory environment becomes stricter, Betsson's business layout in regulated markets provides a stable growth foundation.
The company continues to monitor policy changes in various markets to ensure business compliance.
Business Growth Drivers
Online casino business became the main growth driver this quarter, especially in the Italian and Latin American markets. Although sports betting business was affected by the seasonal impact of events, the company maintained market competitiveness through product optimization.
Technological innovation and user experience improvement are key factors for sustained business growth.
Sustainable Development Strategy
Betsson emphasizes a long-term sustainable development strategy, focusing on responsible gambling and compliant operations. The company builds a sustainable business model through geographical diversification, product innovation, and robust financial management.
This strategy helps the company maintain competitiveness in a changing market environment.
