A top online gambling firm, Betsson, announced unprecedented earnings for the third quarter, hitting €200.3 million (equivalent to $199.6 million USD). This signifies an 18% increase compared to the corresponding period last year, and even more notably, a 35% surge in inherent expansion.
Although their established casino games experienced steady growth at 8%, it was the sports wagering division that genuinely fueled Betsson’s triumphs this quarter. Sports betting income soared by an astounding 45%, showcasing a robust 8.4% profit margin.
This achievement resulted in a 21% rise in operational earnings, reaching €38.4 million, with a net income of €32.6 million. Furthering the positive developments, Betsson’s operational cash flow hit €38.5 million, and their active user base grew by 7%, surpassing 1,056,400 individuals.
Pontus Lindwall, Chief Executive Officer of Betsson AB, proudly declared, “We witnessed sustained positive momentum throughout the third quarter, with robust expansion and profitability for the Group overall. Betsson’s revenue and operational profit achieved historical peaks, propelled by strong progress in both sports wagering and casino.”
A primary catalyst for this 35% inherent expansion was the outstanding performance in areas such as Latin America, Central & Eastern Europe and Central Asia (CEECA).
Lindwall elaborated, “An additional factor contributing to the quarter’s growth was the elevated sportsbook turnover, partially attributed to the European football leagues commencing earlier in August in anticipation of the FIFA World Cup in November-December. I am particularly satisfied with the high overall growth considering we haven’t yet witnessed any revenue from the Netherlands, where our license request is still under review.”
Behold, we possess significant enthusiasm for the remaining Q4 developments, particularly the World Cup – it’s on track to become the most significant occasion in Betsson’s history,” the Chief Executive Officer added.
Lindwall will engage in a discussion with Gambling Insider later today for an exclusive dialogue to further explore the outcomes.
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