After making its first foray into the Belarus market with an initial product that included casino, sportsbook, and poker under the Europebet brand, Betsson Group has grown its footprint across Eastern Europe.
In addition to starting operations in the country, Betsson has opened an office in Minsk, the country’s capital, which will be responsible for customer service, administrative, and operational activities.
In the Belarusian market, Europebet.by is the first brand to provide poker. Several gaming companies have already signed on, and a larger selection of games from more sources will be introduced soon. In the following weeks, a live casino will also be available.
Natural step in business growth strategy
Betsson’s CEO, Pontus Lindwall, said of the move: “Building on the success of Europebet in Georgia, the expansion into nearby Belarus is a natural step in our business growth strategy.
“We started looking into this market back in 2019 and have been preparing for this expansion ever since. As an operator, we will be introducing a high-quality and entertaining product, an excellent customer experience, innovative technology as well as providing multiple job opportunities through our new office in Minsk.”
Betsson credited excellent sportsbook performance, fuelled by two major continental football events, as helping the Stockholm-listed company overcome regulatory headwinds in Norway and Sweden last week.
Improvement in sportsbook trading margin
Betsson reported a considerable improvement in their sportsbook trading margin to 8.5 percent in its Q2 trading update, indexing above its eight-quarter rolling average margin of 7.4 percent.
Betsson group revenue is forecast to be SEK 1.73bn-1.75bn as a result of robust sportsbook activity and good margins, as well as a “favourable product mix,” while the firm has also recorded “its strongest quarter ever in terms of EBIT.”
Betsson expects EBIT to be in the range of SEK 375m-385m (Q2 2020: SEK 217.7m), representing a year-on-year growth rate of 72-77 percent and a quarter-on-quarter growth rate of 36-39 percent.