Betsson’s group revenue in Q1 2023 increased by 30 per cent to €221.9m, with casino revenue climbing by 37 per cent.
EBITDA was €54.3m, an increase of 62 per cent, with the EBITDA margin at 24.5 per cent.
Operating income was €43m, jumping 82 per cent, with the EBITDA margin at 19.4 per cent.
Betsson CEO Pontus Lindwall said: “In the past years investments have been made to expand geographically to new markets and to strengthen the product offering and the competitive position. We can see that these efforts continue to pay off. "Betsson started 2023 with yet another strong quarter, again delivering record numbers for revenue and EBIT, even though the first quarter has historically often had less activity than other quarters. Revenue increased organically by 38 per cent, with sustained positive developments in both sports betting and casino. Geographically, revenue increased in all regions except for the Nordics.”
Lindwall said Betsson’s new business in Argentina is “developing well” and noted a launch in the province of Cordoba will take place later this year after a licence there was acquired in February.
“Responsible gaming is an integrated part of Betsson’s strategy and a prerequisite for long-term success as a gaming operator,” Lindwall added.
“To increase transparency and raise awareness about risky gambling in Sweden and how proactive contacts can change player behaviour, in the first quarter Betsson started to report KPIs for risky gambling for the Swedish market.”
