Diamonds Are Forever In Betsson’s FY23
Marking its Diamond Jubilee, Swedish-origin gambling pioneer and progressive iGaming heavy-hitter Betsson AB has reported group revenue of €948.2 (£810.84m) million in FY23 – impressive growth of 22 percent, year-on-year, and even better organic growth of 40 percent.
EBITDA increased by 52 percent to €262.7 million (£224.64m) in the financial year, enhancing Betsson’s EBITDA margin to 27.7 percent.
Net income for 2023 stood at €173.0 million (£147.93m), or €1.29 per-share, and the company achieved an operating cash flow of €230.4 million (£197.02m).
Accordingly, Betsson directors announced a dividend of €88.5 million (£75.68m) to be paid to shareholders in two tranches.
“When we sum up [our] Jubilee Year 2023, we can look back on a new record year for Betsson,” said Betsson President and CEO Pontus Lindwall (pictured left).
“Several important strategic initiatives were taken to strengthen the product offering, manage risks through geographic diversification, and to create the conditions for continued profitable growth with an increased share of revenues from locally regulated markets.
Trust
“A new record year for Betsson ended with continued high customer activity and record-strong figures in the fourth quarter.”
Group revenue reached €251.9 million (£215.41m) in Q4, a 14 percent increase from the previous year, with an organic growth rate of 36 percent.
EBITDA for the quarter increased 40 percent to €71.9 million (£61.48m), a margin of 28.6 percent. Net income was €43.3 million (£37.02m).
Continued Lindwall: “We see a continued positive development where more countries introduce regulation to enable online gaming with local gaming licences and reasonable conditions for players and operators.
“In 2024, Peru and Brazil are expected to introduce licensing systems for online gaming and Betsson is preparing to apply for gaming licences in these markets.
“I look forward to 2024 with confidence. Betsson is well positioned for continued value creation thanks to a strong financial position, proprietary technology, an attractive customer offering and–above all–our employees.
“I would like to thank our employees for all their great efforts in 2023 and also extend my gratitude to our shareholders for the trust they have shown.”
