Betsson tracks record-breaking Q3 results

Betsson AB expects to declare record-breaking results for Q3 2022, underlining the continued progress of the Stockholm-listed online gambling group’s diversified global growth strategy.

Issuing a trading update, Betsson forecasts Q3 corporate revenues to stand at €199-to-€201m – an outcome that will register “the highest level of revenues ever achieved by Betsson in a single quarter”.

Peak revenue performance will stand alongside Betsson’s projected record-high operating profit (EBIT) in the range of €37-to-€39m – as the group’s financial results remain above investor consensus for the period.

Betsson cites a ‘favourable revenue mix’ shared by its casino and sportsbook portfolio, that maintained high customer activity during Q3 trading.

Sportsbook brands benefitted from “the early start of the major European football leagues in August, due to the upcoming World Cup in November-December.”

Q3 trading saw Betsson underline its continued expansions across Latin America and Central and Eastern Europe and Central Asia (CEECA) – which during H1 had outperformed Betsson’s results in Western Europe and Nordic markets.

Delivering an update to investors, Betsson stated: “The sportsbook continues to develop into a more important part of the total business for Betsson, thanks to investments to strengthen the product in recent years and geographical expansion to several new markets.”

The board of Betsson AB will announce interim Q3 results on October 26, 2022.