Betsson Group, a Swedish sports betting and online casino operator, issued its financial report for the first quarter of 2025, a period in which it recorded revenues of EUR 293.7 million, equivalent to USD 334.7 million, representing a year-on-year increase of 18.3%.
The company highlighted that, in Latin America, revenues increased by 70.3% to EUR 74.5 million (USD 84.9 million), a record figure for the region, thanks to deposits reaching an all-time high.
Betsson highlighted the growth in Argentina and Peru, countries that recorded year-on-year increases in their revenues in the Online Casino and Sports Betting verticals.
In this regard, the group’s CEO, Pontus Lindwall, commented: “Betsson’s ambition is to create stable long-term earnings growth through geographic diversification and growth initiatives in existing and new markets.”
“Latin America, in particular, remains an important growth region where we are continuously strengthening our positions,” he stressed.
In its report, the company also reported an EBITDA of EUR 77.7 million (USD 88.5 million), which represented an increase of 9% compared to the first quarter of 2024. The EBITDA margin was 26.5%.
Likewise, the operating result (EBIT) in this period was EUR 64 million (USD 72.9 million), configuring a year-on-year increase of 11%. The EBIT margin was 21.8%. Net profit was EUR 48.4 million (USD 55.2 million), with earnings per share of EUR 0.35 (USD 0.39)
Report by segment
Online Casino revenues reached EUR 212.3 million (USD million), which meant a year-on-year increase of 17.6% and 72% of total revenues for the first quarter. 470 new games were incorporated in this period.
As for Sports Betting, revenues increased by 21.6% year-on-year to EUR 79.7 million (USD 90.9 million). This amount reflected an increase of 21.6% compared to 2024 and constituted 27% of total revenues. The betting margin also rose to 8%.
The remaining EUR 1.6 million (USD 1.8 million) in revenue came from other products, such as Poker and Bingo, which was 27.3% less than last year.
Regional results
The Central and Eastern Europe regions generated EUR 122.3 million (USD 139.5 million), 11% more than in 2024. Betsson attributed this figure to record deposits in Croatia and Greece, but recorded declines in Lithuania, Estonia and Georgia.
On the other hand, revenues in Western Europe grew by 28.1% to EUR 55.6 million (USD 63.4 million), thanks to record revenues in Italy. Year-on-year revenues also increased in France and Belgium.
Pontus Lindwall
However, revenues in the Nordic countries decreased by 19.3% to EUR 37.8 million (USD 43.1 million), mainly due to lower casino activity. Betsson said this was the case in Sweden and Denmark.
Finally, some EUR 3.4 million (USD 3.9 million) in revenue came from operations in the rest of the world, which represented a year-on-year decrease of 14.8%.
CEO’s word
Regarding these results, Lindwall stated that these “broadly positive” data reflect the group’s overall position. He added that, despite the “uncertainty” about the economy in general, gambling remains largely unaffected, and that Betsson is likely to experience a continued increase in demand for online games.
“The world around us is currently characterized by great uncertainty and concern about the reduction in world trade, rising inflation and the weakening economy,” he explained.
“We are closely monitoring macroeconomic developments, but at the same time we observe that the demand for gaming products has historically been relatively unaffected by the general economic cycle,” he continued.
“Betsson operates in an attractive sector with structural growth driven by the continued migration of online gaming. The share of iGaming in the world will continue to increase for many years. We have a clear vision to deliver the best customer experience in the industry,” the CEO concluded.
