The Hand Of Pontus Lindwall, Betsson Scores Spectacular Q2 Goals
It’s not for nothing that Pontus Lindwall is considered one of the classiest strikers in world iGaming.
Under his inspired leadership, Swedish-origin Omnichannel Betsson has gone from strength-to-strength. Now the Nasdaq Stockholm-listed, Malta-headquarted super team has posted spectacular Q2 results, reporting record-breaking revenue, strong profitability and strategic acquisition, solidifying its position in the über-competitive iGaming industry.
The metrics are impressive:
Betsson achieved a 27 percent increase in group revenue, hitting €236.8 million in the quarter (£205.6m/US$265.5 m). More than 40 percent of this growth was driven organically, highlighting the company’s ability to attract–and retain–a strong customer base.
Betsson’s casino vertical delivered a 35 percent increase in revenue, while the sportsbook segment saw growth of 13 percent — despite a dip in the sportsbook margin.
Profitability also soared in Q2 2023, with the group reporting an impressive 72 percent increase in EBITDA, to €67.6 million (£58.7m/US$75.8m). Operating income surged by 87 percent, hitting €54.5 million (£47.3m/US$61.1m).
“I am [more than] pleased to look back at another record quarter for Betsson with continued high customer activity and strong financial performance,” said Lindwall, Betsson President and CEO.
“New revenue records were set in both B2C and B2B.”
A significant milestone for Betsson was the acquisition of betFIRST, a leading Belgian B2C operator.
The strategic play enhanced the company’s market presence, diversified its portfolio, while, naturally, providing new growth opportunities in the Belgian iGaming market.
Looking ahead, Betsson remains focused on its growth strategy, leveraging its expertise and industry-leading position, affirmed Lindwall (pictured).
“Betsson’s long history of profitable growth is based on diversified revenues in terms of products and geographic markets.
“As before, the business generates strong cash flows, and the robust balance sheet constantly facilitates new growth initiatives.
“It is the mix of investments in new markets, organically and via acquisitions, that has contributed to the good financial performance over time. The geographical diversification continues to serve Betsson well and revenues increased in all regions during the quarter,” said the top iGaming leader.
Betsson’s Central and Eastern Europe and Central Asia markets also continued to show high growth.
Concluding, Lindwall said: “In June [we] entered into [a sponsorship deal] with the Argentinian football club Boca Juniors, once home to perhaps the greatest player ever in football history, Diego Armando Maradona.
“The sponsorship is one of the largest ever for Betsson [and it] means that the club’s iconic match shirt will feature the Betsson logo during local and international matches until the end of 2024.
“[This] strengthens Betsson’s brand and rapid expansion in Argentina and throughout Latin America, and we will be following the team’s development with excitement together with fans and customers.”
No doubt Maradona, were he still with us, would approve of “The Hand of Pontus Lindwall”, much as he once approved of “The Hand of God”.