Betsson AB Continues Solid 2020 Momentum

After the Stockholm-listed online gambling company endorsed its domestic and foreign prospects for year-end trading, Betsson AB continued its solid 2020 momentum.

Betsson posted group revenues of SEK 1,67 billion (EUR 161 million) in its Q3 2020 trading update, up 31 percent from the corresponding SEK 1,27 billion in 2019.

Betsson noted a record 46 percent increase in active customers across its online gambling brands to +920,000 for driving results.

Betsson’s casino divisions generated a 39 percent rise in sales to SEK 1.3 billion (Q3 2019: SEK 940 million), which accounted for 77 percent of company revenues. A breakdown of market segments. The rise in casinos was due to a heavy take-up of mobile games, generating SEK 984 million.

Elsewhere, as its sportsbook units posted revenues of SEK 352 million (314.6) million, up 12 percent on SEK 314 million in Q3 2019, Betsson benefited from the return of a ‘full sports calendar’.

In all main operating regions, Betsson also registered double-digit revenue growth: Nordics (+17 percent), Western Europe (+23 percent), CIS markets (+40 percent) and RoW (+124 percent).

Betsson highlighted that its subsidiaries, backed by its scalable proprietary technology and new co-synergies built through its 2019 transformation programme, were able to match a mass market switch to online gambling during lockdown.

Betsson tracked group sales of SEK 4.62 billion (EUR 442 million) to update its year-to-date forecast, an improvement of 19 percent to YTD2019’s 3.88 billion.

Meanwhile, the YTD Operating EBIT of the Stockholm group stands at SEK 807 million, with a 22 percent rise in net income to SEK 713 million.

Pontus Lindwall, president and CEO of Betsson explained: “Betsson presented another strong result in the third quarter. The last two quarters have been defined by extraordinary challenges for everyone. Despite this, Betsson has both expanded into new markets and developed new products and features.

“Betsson has a strong financial position, a diversified portfolio with a global footprint, strong brands with local expertise, flexible and scalable proprietary technology, along with highly dedicated and talented teams. I look forward, with confidence, to the future of both B2C and Betsson’s ambitions in B2B as a sportsbook supplier.”

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About Joe Kizlauskas

Joe is a seasoned iGaming copywriter and speaker who has been in the business since 2015. He's written more words on all elements of iGaming than he likes to remember, and he's contributed material to a number of well-known brands. Joe may be seen playing 5 a side, at the gym or playing games on his Playstation when he is not writing.