Betsson Group has posted a new Q3 revenue record of €280.1m as its EBITDA increased for the 11th quarter in a row.
Revenue rose from €237.1m a year ago, with EBITDA rising 17 per cent to €80.3m from €68.9m in Q3 2023.
Betsson’s operating income climbed 15 per cent year-on-year to €64.5m.
In the nine months to the end of September, group revenue rose 15 per cent to €799.8m and EBITDA climbed 20 per cent to €229.5m.
“The high customer activity continued during the third quarter with new record levels in customer deposits and gaming turnover,” said Betsson Group CEO Pontus Lindwall.
“Yet again Betsson reports quarterly records in revenue and EBIT, which means the 11th quarter in a row with sequential growth on the EBIT level.”
Casino revenue and sportsbook revenue in Q3 were up by 22 per cent and eight per cent, respectively, with the sportsbook margin at 7.4 per cent for the quarter.
“In the area of product and technology, further development of our platform continued while a large number of new casino games were released during the quarter,” Lindwall added.
“New sports were launched in our betbuilder function within the sportsbook, as well as new features to strengthen cross-selling between sports betting and casino.
“A lot of preparatory work was done before this summer's major football tournaments, so I am particularly pleased to see the 100 per cent uptime for the sportsbook during all the matches in both the Euros and Copa America.”
Lindwall said Betsson will “carefully evaluate” its Brazilian investment as the company gears up for online gaming regulation to formally roll out on January 1.
He said he wants to find the “right mix and allocation of investments between our markets.”
“The fourth quarter is off to a positive start with 14 per cent higher daily revenue than the average for the full fourth quarter last year,” Lindwall added.
“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.”
