Driven by growth in Latin America and CEECA region, Betsson reports all-time high revenue for Q2

Releasing its figures for the second quarter of 2022, Betsson Group ed an all-time high of revenue largely driven by its sportsbook performance and growth in the Latin American and Central and Eastern Europe and Central Asia (CEECA) regions.

The operator reported group revenues of €186.3 million for Q2 2022, an increase of eight per cent year-on-year. Using the same yardstick, casino revenue also grew by one per cent and sportsbook revenue by 22 per cent, with a sportsbook margin of 8.3 per cent.

Furthermore, EBITDA for the period clocked in at €39.3 million, a year-on-year decline of 16 per cent with a margin of 21.1 per cent. Also on the decline was operating income to reach €29.2m, a decrease of 23 per cent. Net income clocked in at €28.6m, corresponding to €0.21 per share.

Meanwhile, active customers increased by 21 per cent year-on-year, reaching 1,246,719.

“Betsson’s second quarter featured continued good growth with all-time high revenue and further investments to our expansion,” said Betsson CEO Pontus Lindwall. 

“The group’s organic growth was 13 per cent, mainly driven by Latin America and the CEECA region, where we see long-term growth potential as these markets still have a low share of online gaming.”

Looking ahead, Mr Lindwall added:

“Despite uncertain capital markets, we recently refinanced our bond until 2025, which gives us financial flexibility to continue investing in both organic growth and selective acquisitions. We continuously monitor the macroeconomic trends but also note that historically Betsson’s business has been relatively unaffected by the general business cycle.

“The first weeks of July are off to a good start and despite the macro factors, we are rather optimistic as we look ahead to the rest of 2022, which has many planned activities for Betsson, including market launches in Mexico and Ontario, as well as the football World Cup during the seasonally strongest fourth quarter.”