With a 22% increase in revenue to $317.8 million in Q4 2024, Betsson AB has reported remarkable financial performance. This expansion concluded a prosperous year in which the company’s total revenue surpassed $1.1 billion. The increase in casino and sportsbook revenues, which increased 17% in FY24 compared to the previous year, is a significant factor in this growth.
Betsson’s gross profit jumped 21% to $207.5 million in the fourth quarter. Operating income increased by 23% to $72.7 million, while EBITDA increased by 20% to $89.5 million. Notwithstanding these improvements, net debt increased significantly during the quarter, rising by 84.2% to -$139.8 million.
Casino and sportsbook revenues remained strong. Casino operations generated $221.6 million in Q4, while sportsbook saw a 2% increase in gross turnover, reaching $1.78 billion, though its revenue was $94.6 million. Both segments posted substantial year-over-year gains of 17% for casino and 36% for sportsbook.
FY24 Performance and Regional Growth
Betsson’s full-year revenue showed a 17% increase from the previous year, culminating in $745.5 million in gross profit. EBITDA for FY24 grew by 20%, totaling $327.3 million, with a margin of 28.6%. Operating cash flow also saw an 18% increase.
Casino operations led the way with $823.9 million in revenue, marking an 18% year-over-year growth. Sportsbook generated $314.3 million in revenue from a $6.7 billion gross turnover, reflecting a 14% revenue rise.
A standout performance came from Betsson’s operations in Latin America (LatAm), which set a record with $81 million in Q4 2024 revenue—up 46.8% year-over-year. The company attributes this growth to its expanding casino sector and improved sportsbook margins, particularly in markets like Peru, Argentina, and Colombia.
Betsson’s expansion in LatAm continued with the official license to operate in Peru, followed by a new partnership with Inkabet. The company also enhanced its presence in Argentina with a content distribution deal with Light & Wonder. Additionally, Betsson renewed its sponsorship with Argentine football club Boca Juniors, reinforcing its brand in the region.
Beyond LatAm, Betsson made strategic investments, acquiring several verticals from Sporting Solutions, and ceased operations in Colorado in September 2024.
Pontus Lindwall, CEO of Betsson, remarked, “As we put 2024 behind us, we can conclude that it was the best year ever for Betsson, where we continued to strengthen our position as one of the global leaders in gaming and betting. 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.”
Lindwall also highlighted the company’s successful regional strategies, stating, “Our investments in the Latin America and Central and Eastern Europe and Central Asia (CEECA) regions continue to be a key driver of the Group’s growth, and we have successfully built a strong position in several key markets using our expertise in online gaming and our proprietary technology platform and sportsbook. Our commitment to sports and marketing through strategic sponsorships has also played an important role in strengthening Betsson’s brand and engaging our players globally.”
The post Betsson Reports Strong Financial Growth in 2024 with Record-Breaking LatAm Performance appeared first on iGaming.org.