Betsson reported a very positive performance for last year. Revenues shot up by 22% to a record €948.2m for the company’s 2023 financial year. EBITDA also skyrocketed 52% to €262.7m from €172.4m in 2022. The year-end results were aided by a surge in Q4, one that saw group revenue hike by 14%.
Quite the set of results then for Betsson. According to Lindwall, the positive outlook for the company looks set to continue, both short- and long-term. The CEO is delighted with the group’s performance, comparing the operator to a well-oiled machine.
“Of course, we’re very happy with the outcome of 2023. It’s a record year by far for the group. It’s nice to finish off so strongly with the record quarter as well,” Lindwall told iGB.
“I think we have a strategy that has played us well as we are pretty diverse in terms of geography and we have our organisation in great shape. I think that transpires to good output in terms of results.”
For Lindwall, expansion is set to be one of the key factors that will help Betsson with its global plans in 2024. Like most operators seem to be, the company is eyeing LatAm as a particularly attractive market for the near future.
Betsson is well-placed to profit from LatAm opening up, too. Having already gone through the challenging regulatory process in Argentina, where a licence is required for each province, the company is also present in Colombia. Lindwall pointed to Peru as another country where Betsson is looking to make a mark once regulated.
After sports betting and iGaming were finally legalised in Brazil in December, its 220 million-strong population is expected to have a legal gambling market in the latter stages of this year.
Lindwall is both thrilled and relieved that the Brazilian market is finally opening for regulated business. This is especially the case after iGaming was re-included in Bill 3,626/2023 following its prior removal by the senate.
“The regulatory process has been back and forth, one step ahead, two steps backwards,” Lindwall commented. “When we heard iGaming is not included, of course that’s very negative for the regulation.”
“We are happy that it’s back again. Let’s hope we don’t get too many negative surprises on the regulatory process going forward. There’s a massive list with huge interest in that market from all our competitors,” Lindwall concluded.
Source: iGB / GMB
