Hop, Skip and a Fist-Bump, It Must Be Love For Betsson
You’d be forgiven for mistaking that extra bounce in Pontus Lindwall’s step as a sign of incipient love, sweet love. It is after all the start of St Valentine’s week.
But the dapper and ebullient boss of Betsson AB has even bigger things on his brilliant mind, beyond a trifling new inamorata.
The Swedish, Malta-based iGaming goliath has just posted a record Q4, driven by Lindwall’s acumen, the energy of a company team working to a singular unified beat and the fortuitous boost of a footballing World Cup.
Today, it’s definitely a bouquet of roses for Betsson as it continues to celebrate its 60th year of operations.
Referring to his company’s all-round record financial results for both Q4 and Full Year 2022, Lindwall, Betsson President and CEO, said:
“We can look back at [our] best year ever, with strong growth and profitability, driven by disciplined capital allocation, geographical diversification and investments in new markets, as well as continuous strengthening of the tech platform and product offering.”
Vaulting contemporary global economic and political negatives, Betsson’s revenue in Q4 surged 40 percent year-on-year to €220.6 million (£194.5m/€237.34m), online casino–driven by the addition of 230 new games–powering 66 percent of the total.
Sportsbook revenue, supercharged by the controversial but supremely successful Qatar World Cup in November and December, accounted for most of the remaining take, of €70.7 million (£62.33m/US$76.06m).
“Even if the macroeconomic and geopolitical situation in the world remains uncertain, we remain optimistic about 2023 thanks to our geographical diversification, focus on profitable growth, strong balance sheet and our sustainable gaming solutions,” said Lindwall.
Betsson’s handle at €1.10 billion (£969.8m/US$1.18bn) was up 40 percent, like-for-like, in the quarter, while the number of active customers grew by 23 percent to 1.4 million.
The company saw significant growth in all its principal markets around the world, led by Central and Eastern Europe, Scandinavia, Latin America and Western Europe.
Operating costs, at €104.8 million (£92.4m/€112.75m), were 36 percent higher for the quarter but EBITDA, likewise, jumped to €51.1 million (£45.05m/US$54.97m), an increase of 68 percent, y-on-y.
Meanwhile, headline reveals of Betsson’s Full Year Results showed that revenue surged 18 percent to €777.2 million (£685.25/US$836.2m), leaving an EBITDA of €172.4 million (£152m/€185.48m) and net profit of €114.7 million (£101.13m/US$123.4m).
Betsson’s leader heaped praise on his enamoured workforce:
“I would also like to take [this] opportunity to thank our employees for all the hard work [they have] put in during the past year,” he said.
“Together we will continue to deliver the best customer experience in the gaming industry. And create long-term value for our shareholders.”
Somebody, give that man a bouquet of roses.