Strong third-quarter financial results were reported by Betsson AB, primarily as a result of steady expansion and robust activity in Latin America. Group revenue reached $696.3 million, representing an exceptional 18% revenue rise for the organization. With $190.8 million in EBITDA for the third quarter, Betsson had a 27.4% EBITDA margin.
Pontus Lindwall, Betsson’s President and CEO, highlighted the company’s potential expansion in Brazil, expressing optimism but recognizing the competitive landscape. Lindwall explained, “The potential market in Brazil is large while competition is expected to be tough, with many operators willing to invest large amounts in marketing.” Betsson, however, plans to approach its entry carefully. “As always for Betsson, we will carefully evaluate and compare the likely returns on marketing in Brazil with other countries in order to find the right mix and allocation of investments between our markets,” Lindwall emphasized, stressing the importance of Betsson’s strategic focus on efficient capital allocation to enhance shareholder value.
A Promising Start to Q4
Reflecting on the company’s recent progress, Lindwall shared that the fourth quarter had already shown positive signs, with daily revenue tracking 14% higher than the same period in 2023. “Hence, there is reason to feel confidence about the last quarter of the year, which is usually also the seasonally strongest quarter for customer activity,” he noted.
Betsson’s careful growth approach and commitment to shareholder value are guiding its decisions, as the company continues to balance market potential with prudent investments. Looking ahead, Betsson is poised to sustain its upward momentum, particularly as Brazil’s market opens new doors.
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