Betsson AB has released its interim results for the first quarter of 2025, reporting group revenue of €293.7 million (£249.88) representing an 18 percent year-on-year increase.
On an organic basis, revenue, driven by growth in both iCasino and sportsbook segments, rose by 20 percent.
Casino revenue increased by 18 percent, while sportsbook revenue rose by 22 percent, supported by a margin of eight percent –compared to 6.6 percent in Q1 last year.
EBITDA reached €77.7 million (£66.11m), up nine percent from the previous year, with a margin of 26.5 percent. Operating income (EBIT) totalled €64 million (£54.44m), up 11 percent, y-o-y, and an EBIT margin of 21.8 percent.
Net income for the quarter was €48.4 million (£41.17m), with earnings-per-share of €0.35. Operating cash flow rose to €86.4 million (£73.5m), while net debt stood at -€177.8 million (-£151.25m). And the number of active customers increased to 1.4 million, compared to 1.3 million in Q1 2024.
Strong Start
Meanwhile, in a Trading Update, Betsson affirmed that early indicators reflect a strong start to Q2, “within the context of the broader iGaming market”.
“The start of the year has been strong with continued high customer activity and profitable growth for Betsson,” attested CEO Pontus Lindwall.
“Despite fewer days and seasonal effects, new record levels were reached for customer deposits and gaming turnover during the first quarter.
“Betsson’s ambition is to create long-term stable profit growth through geographical diversification and growth initiatives in existing and new markets.
“Latin America, in particular, continues to be an important growth region where we are continuously strengthening our positions,” stressed Lindwall.
Paraguay
The LatAm region accounted for 25 percent of Betsson’s total revenue during the quarter.
Jersey sponsorship of top Argentine football club Boca Juniors was extended for a further four-years; the company opened a new office in the Argentine capital, Buenos Aires, and launched under a local licence in newly-regulated Brazil.
Counting a February launch in Paraguay, Betsson is now operating in some 25 countries around the world.
“We continue to invest in the product and our technology: anything from new payment solutions and AI-supported processes to a strengthened sportsbook. And when we compare ourselves with competitors, we can see that in our focus markets we now have a market-leading offering in sports betting.
“The world around us is currently characterised by great uncertainty and concerns about reduced world trade, higher inflation and a weakening economy.
“We are closely monitoring macroeconomic developments, but at the same time we note that 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.”
