Betsson expects to report record revenue and EBIT in Q3 driven by high customer activity across the sports betting and casino verticals.
The operator said in a trading update yesterday (6 October) that group revenue is projected to be in the range of €199m-€201m in Q3 2022, which would be the best ever result for Betsson in a single quarter and an increase of some 17-18% from the €170m generated in Q3 2021.
EBIT is forecast to come in between €37.5m and €39m, up from the €31.7m reported in the corresponding quarter last year.
The Stockholm-listed operator said high customer activity in general, combined with a favourable revenue mix and the firm’s scalable business model, had contributed to the increase in EBIT.
Growth in Latin America markets, as well as in Central and Eastern Europe and Central Asia, has also been identified as contributing to Betsson’s positive performance during the quarter.
In addition, the operator said it benefitted from the early start of the major European football leagues in August, due to the upcoming World Cup in November and December.
In Q2 2022, Betsson already reported all-time high revenue of €186.3m, with growth driven in particular by sportsbook performance in Latam.
In Q2, sportsbook revenue climbed by 22% year-on-year to €61.6m, although casino still provided the bulk of revenue despite coming in relatively flat at €122.2m, up 1%.
Betsson said alongside its latest trading update that sportsbook is becoming ever-more important for the business as a result of investments aimed at strengthening the product in recent years, as well as due to geographical expansion into several new markets.
The preliminary sportsbook margin was 8.3% for the quarter, which is at the same level as in the previous two quarters in 2022, but somewhat higher than the average of the past eight quarters of approximately 7.7%.