Betsson boosted by football activity as firm reports record customers and revenue

Betsson AB has reported record revenue in Q3 2026, as the figure grew 10% year-on-year (YoY) to €326.5m (£273.7m). Total revenue for the first nine months of the year reached €922.1m, representing 3.2% growth YoY. However, EBITDA for Q3 dipped 23% to €63.4m from €82.5m as pressures such as higher betting duties and gaming taxes, payment provider expenses, a drop in high-margin B2B licence revenue and increased marketing costs hit the business. EBITDA margin contracted from 27.9% to 19.4%. Betting duties, which have been a thorn in the side of many gambling PLCs in recent months, rose from €41.4m to €69.4m as the share of revenue from locally regulated markets expanded significantly YoY from 63.8% to 77.7%. The factors listed above contributed to gross profit declining by 5% YoY from €189.8m to €181.1m, with operating expenses increasing from €122.9m to €135m. Betsson’s active customers grew to record levels in Q3, up 40% to 1.87 million as the business benefited from the latter stages of the 2026 World Cup and the beginning of various domestic football seasons globally. “The high level of customer activity continued during the third quarter, supported by the FIFA World Cup and the start of the major European football leagues,” said Betsson’s President and Chief Executive Officer, Pontus Lindwall. Pontus Lindwall, Betsson AB CEO. Source: Betsson AB / SBC Leaders “Customer deposits and total gaming turnover increased, while the number of active customers rose by 40% to a new record. Revenue also reached a new all-time high for a single quarter, which is particularly positive given that the sportsbook margin was considerably lower than in the second quarter.” Casino drives growth As Lindwall mentioned, sportsbook revenue was not exactly the main growth driver despite the events already cited. Revenue remained broadly stable (+0.8%) at €71.8m, contributing to 22% of revenue. The sportsbook margin after free bets was 8.1%, down from 8.8% in Q3 2025. It was in Betsson’s casino division where the growth lay. Revenue grew by 13.7% to €253.5m, generating 77% of total group revenue. “Instead, growth was driven by the casino product. This performance demonstrates the strength of our diversified business model, with a broad geographical presence, several strong brands and competitive offerings in both sports betting and casino that complement each other,” Lindwall continued. Betsson by market In Latin America, the group achieved record revenue of €116.1m (+51.8% YoY), accounting for 36% of group revenue, led by Argentina, Peru, and Colombia. The business is a market leader in all three of these nations, as well as in Chile. Betsson’s Western European operations also reached all-time highs in the revenue department, with the €64.8m figure (+13.8% YoY) driven by strong casino turnover in Italy. Revenue declined 16.8% to €99.2m in Central and Eastern Europe and Central Asia (CEECA), however, impacted by lower B2B license revenue, while revenue in the Nordics, the location of Betsson’s home market of Sweden, fell 10.0% to €32.7m. Rest of the World turnover surged 106% to €13.7m, bolstered by the firm’s market entry in Alberta and its re-entry into Ontario – the two regulated markets in Canada. Lindwall added: “Growth was driven primarily by Latin America, where the positive momentum continued and revenue increased by more than 50%. “Peru and Argentina once again stood out, with high customer activity and strong revenue growth, largely due to the successful execution of marketing activities in connection with the FIFA World Cup. Our long-term investments in products, brands and locally adapted marketing continue to strengthen our positions in the region.” An established base to build on Q3 saw the company complete its acquisition of Rhino Entertainment for €64.5m to strengthen its B2B operations. Betsson completes €64.5m Rhino acquisition as Canadian presence grows The business also rebranded its betFIRST brand in Belgium to Betsson, in line with its wider global presence, and put a focus on its investment in its product and technology. “We continued to invest in our product offering and proprietary technology”Pontus Lindwall, CEO of Betsson AB It signed a long-term multi-currency revolving credit facility of €75m in July with “a leading Nordic bank”, which has a two-year term with a one-year extension option. Betsson provided a glimpse into early Q4 trading in the update, stating that average daily revenue up until and including 18 October was 11% higher than the average daily revenue of the entire Q4 2025. Sportsbook margin, however, “has been significantly lower than the average for the last eight quarters”. The firm has seen its share price rise slightly from market close yesterday, when it was trading at SEK 93.75 (£7.06). At the time of writing (10:25am GMT), Betsson shares are trading at SEK 96. Lindwall has stated that the group has taken the positives from the results and reiterated his confidence looking forward. He concluded: “Following another quarter of record revenue, improved operating income and a positive start to October, we now look forward to an intensive end to the year. We have a full pipeline of activities aimed at enhancing our customers’ entertainment and engagement. “With a scalable business model, attractive products and strong market positions, we are well positioned to return to earnings growth and continue creating long-term value for our shareholders.”