Betsson anticipates record Q3 revenue and profit returns

Betsson is expecting to a report record quarterly revenue in Q3 2022 of between €199m (£174.8m) and €201m driven by high customer activity.

The Stockholm-listed operator released a Q3 2022 trading update in which it highlighted its expectations for its full results release on 26 October.

The expected revenue range, which Betsson noted was powered by both casino and sports betting, exceeds the Q3 2021 figure of €170m.

Additionally, Betsson is also anticipating a record EBIT return of between €37.5m and €39m, up from the €31.7m achieved in Q3 2021.

Betsson noted the growth was driven by its operations in Latam and the region of central and eastern Europe and central Asia (CEECA).

In the company’s Q2 results, Latam revenue leapt 86.2% year-on-year (YoY) to €45.7m while CEECA revenue increased 23.4% to €61.1m.

The operator also pointed to the early start of major European football leagues in August due to the fixture shift as a result of the winter World Cup in Qatar.

Betsson said its sports betting arm continued to grow in prominence and importance after recent investments in the product.

Preliminary sports betting margin is 8.3%, which is the same as Q2 2022 and Q1 2022, but higher on the average of the past eight quarters (7.7%).

Last month, Betsson expanded its international presence with further launches in Mexico and Italy.

The firm rolled out its online sports betting and igaming operations in Mexico under its betsson.mx banner while launching a new sports betting brand, StarCasinò Bet, in Italy.