Betsson Group reported its “strongest year ever” in 2024 after a standout Q4 performance helped the operator post records for full-year revenue, net profit, and EBITDA. Revenue for the three months to December 31 amounted to €306.8 million ($318.8 million), an increase of 22%. Additionally, net income was €53.1 million ($54.9 million) and EBITDA was €86.4 million ($89.4 million), an increase of 20%.
The company reported yearly increases in both its casino and sports betting operations. The group also saw revenue rise across several regional markets worldwide, with Latin America posting the most growth.
In Q4, the company recorded an increase in overall customer deposits to a new quarterly record of €1.58 billion ($1.63 billion). Active customers edged up to 1.3 million, though the number of registered players dipped 1.1% to 29.4 million following the strategic decision to exit certain markets.
Pontus Lindwall, Betsson CEO, commented: “The year was characterized by high growth, strengthened profitability, and strategic investments in line with our long-term goals and our vision to offer the best gaming experience in the industry.”
“Our investments in the Latin America and Central and Eastern Europe and Central Asia (CEECA) regions continue to be a key driver of the group’s growth, and we have successfully built a strong position in several key markets using our expertise in online gaming and our proprietary technology platform and sportsbook.”
Lindwall also highlighted the company’s “commitment to sports and marketing through strategic sponsorships” as another key factor in strengthening Betsson’s brand and engaging its global player base.
Pontus Lindwall
Betsson’s online casino division remained its primary revenue generator in Q4, contributing €213.9 million, a 17% increase from the same period last year. During the quarter, the company’s offering expanded with 293 new casino games. This helped to also drive group-wide casino turnover up 6.4% to an all-time high of €9.75 billion.
The sportsbook segment also performed well, with revenue climbing 36% year-on-year to €91.3 million, another new record for Betsson. The rise was supported by a 2.3% increase in total turnover, with the sportsbook margin standing at 9.8% for Q4.
Revenue from other products, including poker and bingo, dropped 23.8% year-on-year to €1.6 million. These accounted for 1% of the overall revenue.
CEECA continued to be Betsson’s largest revenue-generating region, with €132.2 million, up 23.8% from last year. Betsson noted growth across both sports betting and casino, highlighting record figures across Croatia, Georgia, Greece and Lithuania.
Latin America was another standout, with revenue rising 46.8% to €78.2 million, driven by growth in Argentina, Colombia, and Peru. Additionally, in Western Europe, revenue increased by 26.3% to €52.7 million, with Italy delivering a record performance, while growth in Belgium, on the back of Betsson securing an online casino licence at the start of 2024, also contributed to the increase.
However, in the Nordics, revenue dipped by 13.8% to €40 million due to lower casino activity. Meanwhile, rest of world revenue remained level at €3.7 million.
Gross profit for the quarter increased 21.3% to €200.3 million. Operating expenses were also 20.2% higher at €130 million. After financial income and expenses, pre-tax income hit €65.4 million, an increase of 28.5% from the previous year. Betsson paid €12.3 million in tax, leaving €53.1 million in net profit, up 22.6%.
For the full year, Betsson’s revenue reached €1.1.billion, a 16.8% increase from the same period last year. Operating profit grew 22% to €256.7 million, with net profit standing at €189 million, an increase of 11.2%.
“As we put 2024 behind us, we can conclude that it was the best year ever for Betsson, where we continued to strengthen our position as one of the global leaders in gaming and betting,” Lindwall commented.
“We continue to forge new paths and act as pioneers in everything we do and look forward to continuing our growth journey in 2025. Geographic expansion and diversification remain key words for us and we have a full pipeline of activities to support continued growth.”
“With disciplined capital allocation, promising strategic initiatives, and our commitment to strengthening the customer experience, we are confident that we can continue to create long-term value for our shareholders and customers,” The CEO concluded.
Original article: https://www.yogonet.com/international/news/2025/02/06/94286-betsson-reports-34strongest-year-ever-34-driven-by-record-performance-in-q4
