Betsson Group CEO Pontus Lindwall said Q1 for the company was defined by “continued high customer activity and profitable growth.”
Group revenue climbed 18 per cent year-on-year from €248.2m in Q1 2024 to €293.7m.
Sportsbook revenue rose 22 per cent and igaming revenue increased 18 per cent, with Latin America accounting for 25 per cent of total revenue.
Adjusted EBITDA climbed nine per cent to €77.7m, operating income was up 11 per cent to €64m and net income increased to €48.4m.
“The start of the year has been strong with continued high customer activity and profitable growth for Betsson. Despite fewer days and seasonal effects, new record levels were reached for customer deposits and gaming turnover during the first quarter,” Lindwall (pictured) said.
“Latin America, in particular, continues to be an important growth region where we are continuously strengthening our positions. The region accounted for 25 per cent of the group's total revenue during the quarter.
“In January, we extended our significant partnership as jersey sponsor with Boca Juniors for another four years. The sponsorship is important for our presence in Argentina but also strengthens Betsson's brand across the entire South American continent.
“In March, we opened a new office in Buenos Aires to be able to even better capture the growth potential in Argentina. Recently, we obtained a local licence and launched our offering in the newly regulated market in Brazil.
“In addition to this, we carried out a technical launch in February in the regulated market in Paraguay, after having obtained a local casino gaming license there at the end of 2024.”
Betsson’s revenue from locally regulated markets in Q1 increased by 60 per cent to 59 per cent, up from 43.6 per cent in Q1 2024.
Lindwall said Betsson is “closely monitoring” the global economic picture, as issues such as US tariffs take their toll.
But he said demand for gaming products “has historically been relatively unaffected by the general economic cycle.”
“Betsson operates in an attractive sector with structural growth driven by the continued online migration of gaming. The share of online gaming in the world will continue to increase for many years to come and we have a clear vision to deliver the best customer experience in the industry.”
