In terms of operating profit, this is estimated to amount to between €53.5m and €55.0m, another new quarterly high. This, Betsson said, would be the result of higher revenue and the success of its business model.
Picking out key figures for Q2, Betsson said it experienced continued high customer activity both in casino and sports betting. This, it added, resulted in a strong financial development for Betsson.
Preliminary sportsbook margin for Q2 was approximately 8.2%. This was in line with the same quarter last year (8.3%) but higher than the rolling average for the last eight quarters (7.8%).
Betsson said revenue was higher in all regions year-on-year. Breaking down performance in each market, Nordics and Latin America both held a 22% share of all revenue in the quarter.
Western Europe revenue was 11%, while Central & Eastern Europe and Central Asia (CEECA) was 43% and rest of the world 2%.
Licence revenue for system delivery to B2B customers is expected to be between €64.0m and €65.5m. This would correspond to approximately 27% of group revenue.
Looking at Q3 performance to date, average daily revenue to 9 July was 13.7% higher than in the full third quarter last year.
Building on success
The deals come on the back of a record first quarter at Betsson, during which revenue hit an all-time high of €221.9m.
This performance was driven by record revenue within its casino business and record results for a number of geographical markets.
Casino was the primary source of revenue in Q1, with revenue reaching a record €152.0m, up 36.9%. This was helped by the launch of 319 new casino games in the period, 16 of which were exclusive to Betsson brands.
Sportsbook revenue was also up 19.1% to €67.2m, with €55.7m of this coming from betting on mobile. Revenue from other products including poker and bingo slipped 1.9% to €2.7m.
Q1 built on Betsson’s “best ever year” in 2022, helped by a record Q4 performance.
Source: GMB / iGB
