Betsson, in its financial report for the second quarter of 2022, flagged all-time high revenue driven by sportsbook performance and growth in the Latin America and CEECA regions.
Group revenue was €186.3m, an increase of 8% and an organic increase of 13%. Casino revenue increased by 1%. Sportsbook revenue increased by 22% and the sportsbook margin was 8.3%.
Regarding the group’s results and perspective for the future, CEO Pontus Lindwall commented:
“Betsson’s Q2 featured continued good growth with all-time high revenue and further investments to support our expansion. The Group’s organic growth was 13%, mainly driven by Latin America and the CEECA region, where we see long-term growth potential as these markets still have a low share of online gaming.”
“The sportsbook business showed a strong development in the quarter leading to all-time high revenue. Some of the football World Cup qualifiers in June ended in particularly favourable outcomes for Betsson and contributed positively to the margin in the quarter.”
“The B2B initiatives continue according to plan, and discussions are currently being held with several potential sportsbook customers in both North America and other parts of the world.”
“In May, the sponsorship with AC Milan was renewed, which means that Betsson now also becomes exclusive sponsor for the club in Latin America. The region is important for the club with millions of fans and the history of stars like Kaká and Ronaldinho. Further, similarly to last summer Betsson is a proud sponsor of Copa America Femenina 2022, which is the Latin American equivalent of the UEFA Women’s Euro 2022 and takes place during July. The interest in women’s football is growing strongly and the previous championship had more than 20 million TV viewers.”
“In conclusion, we see that macro and geopolitical factors continue to dominate the world around us, with great uncertainty and concerns around war, inflation, higher interest rates and potentially a coming recession.”
“The first weeks of July are off to a good start and despite the macro factors, we are rather optimistic as we look ahead to the rest of 2022, which has many planned activities for Betsson, including market launches in Mexico and Ontario, as well as the football World Cup during the seasonally strongest fourth quarter.”
Source: GMB
