A premier gaming provider, Betsson, announced unprecedented financial outcomes for the third quarter, driven by a surge in sports wagering. The firm generated €200.3 million in earnings, an 18% increase compared to the corresponding period last year. Even more remarkable was the internal expansion, which reached an astounding 35%.
Although casino earnings witnessed a respectable 8% rise, it was sports betting that took center stage. This sector exploded with a 45% revenue surge, achieving a profit margin of 8.4%. Betsson attributed this triumph partially to the earlier-than-usual commencement of European football leagues, as the FIFA World Cup moved its timetable to later in the year.
In total, Betsson experienced a 21% increase in operating earnings, reaching €38.4 million, with a net income of €32.6 million. The company also benefited from a 7% growth in active users, exceeding the one million threshold.
Chief Executive Officer Pontus Lindwall conveyed his contentment, emphasizing the robust performance across all geographical areas, particularly Latin America, Central and Eastern Europe, and Central Asia. He also expressed confidence regarding the pending licensing request in the Netherlands, a potentially profitable market for the enterprise.
The head executive also expressed enthusiasm for the remaining quarter, particularly with the upcoming global soccer tournament. He suggested it could potentially become their most significant event to date! An interview with Gambling Insider is on his agenda later today to discuss the company’s achievements.
