The well-known iGaming company Betsson Group has revealed astounding record-breaking numbers in its Q3 interim report, which covers the period from July to September. The business’s performance throughout this time shows an impressive growth trajectory.
With organic growth at an astounding 39%, Betsson’s Q3 group revenue of EUR 237.6 million ($251 million) was a significant gain of 19%. During this time, income from casinos increased by 27%, while revenue from sportsbooks increased by a respectable 2%. The sportsbook margin was notably 7.3%.
With a 29% EBITDA margin, the company’s EBITDA for the quarter increased by an astounding 42% to EUR 68.9 million ($72.8 million). With an impressive 46% year-over-year rise, EBIT was recorded at EUR 56 million ($59 million), with an EBIT margin of 23.6%.
A net income of EUR 46.2 million ($48.8 million), or EUR 0.35 ($0.37) per share, was also disclosed by Betsson Group. For the quarter, there was EUR 44.9 million ($47.44 million) in operational cash flow. Surprisingly, the company’s net debt was EUR -65.5 million ($69.2 million) at the end of the third quarter.
One of the standout achievements of Q3 was the 17% increase in the number of active customers, totaling 1,237,238.
Pontus Lindwall’s Insights
The CEO and President of Betsson, Pontus Lindwall, shared his thoughts on the outstanding Q3 performance. He highlighted the increased consumer engagement, strong financial growth, and investments in new product development and market expansion.
Noting that Q3’s revenue and EBIT are the greatest in Betsson’s history—a record that includes the purchase of betFIRST—Lindwall praised the improved numbers.
He emphasized that the only significant region that didn’t accurately represent Betsson’s significant expansion was the Nordics. Nevertheless, the business kept expanding, gaining a sports betting license in France, joining the Serbian market, and expanding its offering to include betFIRST in Belgium.
The importance of the business-to-business (B2B) market to Betsson’s growth plan was emphasized by the CEO. He disclosed that in September, Betsson gave Bethard access to its sportsbook service.
The organization achieved a noteworthy milestone in Q3 when it initiated its inaugural worldwide advertising campaign. The choice of the topic, “A bet makes the difference,” is a calculated attempt to draw attention to the thrill and amusement that accompany betting, whether at sportsbooks or in casinos.
Lindwall ended with some encouraging words for the rest of 2024. While highlighting that Betsson’s global diversity, strong balance sheet, and solid cash flows offer a favorable environment for the company’s sustained expansion, he made some allusions to possible future investments.
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