Betsson reports double-digit Q2 revenue growth as Latin America and Western Europe deliver record gains

Stockholm-listed gaming giant Betsson AB posted an 11.9% year-on-year increase in revenue for the second quarter of 2025, supported by standout growth in Latin America and Western Europe. The group reported Q2 revenue of €303.7 million ($352.9 million), exceeding the €271.5 million ($316.55 million) recorded in the same quarter last year and marking a 3.4% rise over Q1 2025.

Latin America played a key role in Betsson’s quarterly results, with revenue in the region rising 35.4% to €84.7 million ($98.75 million). CEO Pontus Lindwall highlighted Peru and Argentina as key contributors to this performance, citing increased customer activity and deposit levels.

Betsson also secured a full license to operate in Brazil earlier this year, expanding on its 2019 investment in local operator Suaposta.

“It is gratifying to see how we continue to strengthen our leading market positions in these countries through both strategic and tactical market activities as well as targeted product development,” Lindwall said during the earnings call.

CEO Pontus Lindwall

In Western Europe, revenue climbed 35.6% to €59.3 million ($69.14 million), driven by record results in Italy and growth in France. The Belgian market saw a slight decline.

Central and Eastern Europe and Central Asia (CEECA) remained Betsson’s largest regional segment, contributing €118.2 million ($137.81 million), up 3.7% from the previous year.

The group continued to face headwinds in the Nordics, where revenue fell 28.4% to €33.9 million ($39.52 million) due to lower marketing investment. The region’s performance also declined in the first quarter.

Casino remained the company’s primary product segment, generating €212.4 million ($247.64 million) in Q2, or 70% of overall revenue. This came despite only a 0.9% increase in gross casino turnover to €9.05 billion ($10.55 billion).

Sportsbook revenue grew 14.9% to €90.0 million ($104.93 million), even as total betting turnover declined 4.3% to €1.47 billion ($1.71 million). Other product revenue, including poker and bingo, dropped by 35% to €1.3 million ($1.52 million).

Betsson also reported strong revenue growth from locally regulated markets, up 33% to €199.6 million ($232.72 million), accounting for nearly two-thirds of total revenue. Deposits increased 4.4% year-on-year to €1.49 billion ($1.74 billion), although active customers fell by 1.4% to 1.3 million. The number of registered customers declined 3.7% to 30 million, which Betsson attributed to its exit from certain markets.

Operationally, the company recorded a 7.6% increase in operating profit to €69.0 million ($80.45 million), while pre-tax profit rose 11.6% to €63.7 million ($74.27 million). After paying €14.6 million ($17.02 million) in income tax, net profit for the quarter stood at €49.2 million ($57.36 million), up 10.8% year-on-year. EBITDA rose by 8.5% to €161.8 million ($188.65 million).

For the six-month period ending 30 June, Betsson reported €596.3 million ($695.24 million) in revenue, a 14.9% increase from the first half of 2024. Operating profit reached €133.0 million ($155.07 million) and net profit came in at €97.3 million ($113.44 million), up 11.6%. EBITDA for the period was €162 million ($188.88 million).

Despite the higher revenues, Betsson reported increased costs. The cost of services rose 16%, primarily due to higher gaming taxes in several markets, while operational expenses were up 10.8% amid increased spending on marketing and personnel.

During the earnings call, Lindwall addressed Betsson’s readiness for further mergers and acquisitions, even after withdrawing from a planned acquisition in the Netherlands due to regulatory delays.

“We are in a better position than ever with M&A,” he said. “We have a very strong balance sheet and we have a few interesting opportunities in the pipeline. This could be in existing markets where we want to strengthen our presence or acquisition to move into new markets.”

The company also highlighted its technical advancements, including the launch of a new mobile app in Argentina and a sportsbook integration with Belgian operator BetFirst. Lindwall said these developments showcase Betsson’s adaptability and focus on building scalable solutions tailored to local markets.

Betsson’s leadership expressed confidence in its outlook for the second half of the year, citing continued focus on product development, data-driven marketing, and responsible gaming. The group has now recorded 18 consecutive quarters of revenue and earnings growth.

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