Betsson Sees Flat Q4 Revenue Despite Regional Slowdown

Betsson expects revenue to hold steady in the fourth quarter of 2025 despite slower performance in the Nordics and Central and Eastern Europe and Central Asia.

Preliminary figures show Q4 revenue of €304 million for the three months ending 31 December 2025. That result sits about 1 percent below the €307 million recorded in the same period last year.

Good to Know

• Q4 revenue is expected to reach €304 million
• Operating profit is forecast to fall more sharply year on year
• Casino continued to drive the largest share of revenue

While revenue remained broadly flat, Betsson expects operating profit to decline to €53 million. That compares with €70 million in Q4 2024, a drop of more than 24 percent.

The company cited higher tax payments, continued product and technology investment, and increased staffing levels as key factors behind the decline. Gross margin is forecast to fall from 65.3 percent to 60.5 percent.

Regional Performance Split

Betsson reported higher customer activity overall, with more active players than a year earlier. Regional performance, however, remained mixed.

CEECA generated the most revenue at €120 million, though that figure fell 9.1 percent year on year. Nordics revenue dropped 15 percent, declining from €40 million to €34 million.

Those declines were offset by growth elsewhere. Western Europe revenue rose 15.1 percent to €61 million. Latin America revenue increased 7.7 percent to €84 million, supported by launches in Brazil and Paraguay during 2025. Revenue from the rest of the world exceeded €5 million.

Casino Leads Product Mix

Casino continued to produce the bulk of group revenue. Q4 casino revenue reached €220 million, up 2.8 percent from the prior year.

Sportsbook revenue declined 8.8 percent to €83 million. Revenue from other gaming products dropped to €1 million.

The share of revenue from locally regulated markets reached a quarterly record of 68 percent, up from 60 percent a year earlier. As a result, tax payments rose 23 percent to €53 million.

Early Signals for 2026

Betsson president and chief executive officer Pontus Lindwall expressed confidence in the company outlook following Q4 and full year 2025 performance.

He said:

“Betsson business is diversified and spans across many markets. The business in general is developing positively. Last year, we made significant investments in product development, which is mainly done with our own employees and leads to higher personnel costs.”

Lindwall added:

“I am optimistic about 2026. I am especially looking forward to the Fifa World Cup and also to be able to start reaping the benefits of the investments we have made in product development.”

Betsson also reported that average daily revenue during the first quarter of 2026 through 15 January was 1 percent higher than the full first quarter of last year.

The company plans to release its full Q4 2025 report on 5 February.

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