Betsson Group has reported an eighth successive quarter of sequential revenue growth in Q4, with full-year revenue for 2023 rising by 22 per cent to €948.2m.
For Q4, group revenue was €251.9m, increasing by 14 per cent, with casino revenue jumping by 25 per cent.
While sportsbook revenue for Q4 dropped by five per cent, EBITDA was €71.9m, increasing 40 per cent and translating to an EBITDA margin of 28.6 per cent.
EBITDA for the full year reached €262.7m, increasing by 52 per cent, while operating income (EBIT) rose by 60 per cent to €210.5m.
Net income tallied at €173m, corresponding to €1.29 per share.
Betsson CEO Pontus Lindwall said: “The high customer activity continued during the fourth quarter with new record levels in customer deposits and gaming turnover in both casino and sports betting.
“Once again, the group reports the highest levels ever for revenue and operating profit, marking the eighth consecutive quarter of sequential growth. The growth rate compared to the fourth quarter of the previous year should be viewed in light of the fact that the comparative period included the World Cup in football.”
Lindwall added that as of Q4, Betsson’s share of revenue from locally regulated markets increased to 45.9 per cent.
“We see a continued positive development where more countries introduce regulation to enable online gaming with local gaming licenses and reasonable conditions for players and operators,” he said.
“In 2024, Peru and Brazil are expected to introduce licensing systems for online gaming and Betsson is preparing to apply for gaming licenses in these markets.
“I look forward to 2024 with confidence. Betsson is well positioned for continued value creation thanks to a strong financial position, proprietary technology, an attractive customer offering and – above all – our employees. I would like to thank our employees for all their great efforts in 2023 and also extend my gratitude to our shareholders for the trust they have shown.”
