Betsson Achieves Record-Breaking Growth in 2024 with Strong Q4 Performance

Quarterly Revenue Exceeds €300 Million for the First Time

In the three months ending 31 December 2024, Betsson’s revenue reached €306.8 million, marking a 21.8% year-on-year increase. This milestone represents the company’s first time exceeding €300 million in a single quarter. Growth was observed across multiple operational segments, particularly in casino and sports betting, with Latin America recording the most significant regional increase.

The company also reported record customer deposits of €1.58 billion in Q4. Active customer numbers rose to 1.3 million, although registered player accounts fell by 1.1% to 29.4 million following Betsson’s strategic withdrawal from certain markets.

CEO Pontus Lindwall attributed the company’s regional expansion to continuous investment in key markets.

“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. 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”, he stated.

Record-High Casino and Sports Betting Revenue

Online casino remained Betsson’s dominant revenue source, with Q4 revenue climbing 17% year-on-year to €213.9 million. The company introduced 293 new casino games during the quarter, contributing to an all-time high casino turnover of €9.75 billion, up 6.4% from the previous year.

Sports betting also reached new heights, with revenue increasing by 36.3% to €91.3 million. Total sports betting turnover rose by 2.3% to €1.71 billion.

Revenue from other gaming products, including poker and bingo, declined by 23.8% year-on-year to €1.6 million, making up just 1% of total revenue.

Regional Growth Led by Latin America and CEECA

Betsson’s operations in the Central and Eastern Europe and Central Asia (CEECA) region generated €132.2 million in Q4, representing a 23.8% increase. The company reported growth in both casino and sports betting, with record-breaking figures in Croatia, Georgia, Greece, and Lithuania.

Latin America posted the highest regional growth rate, with revenue soaring by 46.8% to €78.2 million. The company credited its expansion in Argentina, Colombia, and Peru as key contributors to this success.

Western Europe also delivered strong results, with revenue increasing by 26.3% to €52.7 million. This was driven by a record performance in Italy, alongside growth in Belgium, where Betsson secured an online casino license at the beginning of 2024.

However, revenue in the Nordics declined by 13.8% to €40 million due to reduced casino activity. Revenue from other international markets remained stable at €3.7 million.

Profitability Remains Strong Amid Rising Costs

Betsson’s gross profit for Q4 rose by 21.3% to €200.3 million. Despite a 20.2% increase in operating expenses to €130 million, operating income grew by 23.2% to €70.2 million.

Pre-tax income climbed by 28.5% to €65.4 million. After accounting for €12.3 million in tax payments, net profit stood at €53.1 million, reflecting a 22.6% year-on-year increase.

Following additional financial adjustments, including a €1.1 million benefit from net investments in foreign currency and €700,000 from foreign currency exchange, the final bottom-line net profit reached €54.9 million—up 59.1% from the previous year.

EBITDA for Q4 amounted to €86.4 million, reflecting a 20% year-on-year increase.

Full-Year Revenue Exceeds €1 Billion for the First Time

For the full year ending 31 December 2024, Betsson reported revenue of €1.11 billion, marking a 16.8% increase. This was the first time the company had surpassed €1 billion in annual revenue.

Casino revenue rose by 18.4% to €795.4 million, while sports betting revenue increased by 13.6% to €303.4 million. The company did not disclose detailed regional breakdowns for the full-year results.

Gross profit for the year reached €719.4 million, up 13.9%. After €463 million in operating costs, operating profit totaled €256.7 million, reflecting a 22% increase year-on-year.

Pre-tax profit stood at €233.7 million, a 20% increase, while net profit after tax reached €183.7 million, up 6.2%. Taking into account foreign currency adjustments, the final bottom-line net profit was €189 million, an 11.2% increase.

EBITDA for the year reached €316.0 million, marking a 20.3% rise from 2023.

Looking Ahead to 2025

Reflecting on the company’s performance, CEO Pontus Lindwall stated:

“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.”

“We continue to forge new paths and act as pioneers in everything we do and look forward to continuing our growth journey in 2025. Geographic expansion and diversification remain key words for us, and we have a full pipeline of activities to support continued growth.”

“With disciplined capital allocation, promising strategic initiatives and our commitment to strengthening the customer experience, we are confident that we can continue to create long-term value for our shareholders and customers.”