Betsson Group, one of the leading online casino and sports bookies in Sweden, predicts record revenue during Q2 2023. The company anticipates earnings of between EUR 235.5 million (USD 261.9 million) and EUR 237.5 million (USD 264.1 million)—the highest result in a single three-month period in its history. This financial milestone not only reflects the group’s strong global performance but also highlights the growing betting potential in Latin America, one of the company’s most promising markets.
These incredible figures not only demonstrate the successful foundation of the Betsson Group business model when it comes to profitability but also highlight the increasingly lucrative nature of wagering in Latin America as well.
How Financial Strength Meets Sports Betting Potential in Latin America
Its scalable operations give the company financial success. Betsson expects an operating profit (EBIT) of between EUR 53.5 million (USD 59.5 million) and 55 million (USD 61.2 million), ahead of the market expectations.
Growth Driven by Casino and Sports Betting
High user engagement across casino and sports betting stands out as a key growth driver. In Q2 2023, Betsson recorded a strong surge in customer engagement across both verticals.
Betting margins are still strong in sports.
Sports betting margin for the quarter was ~8.2% on a pro-forma basis, in-line with the same period last year. But, that margin is also wider than the average over the last eight quarters.
Latin America Makes Up Ground in Regional Revenue Distribution
In terms of geographical revenue contribution, Betsson Cousins saw strong performance across various regions, sports betting potential in latin america and Ukraine leading the charge. The approximate regional distribution from Q2 2023 is:
- Nordic countries: 22%
- Latin America: 22%
- Also, Western Europe: 11%
- Central and Eastern Europe & Central Asia: 43%
- Finally Rest of the World: 2%
Basically, this geographical variety provides extra stability and enables Betsson for continuity on its own path to global growth.
B2B Sales (System Licensing)
Besides its B2C arms, Betsson also foresees robust income from B2B system licences. They are projected to represent 27 % of total revenue and to amount to EUR 64.0–65.5 million (USD 71.2–72.9 million).
The growth reported here is B2B, underscoring the company’s prowess as a technology provider for other online gaming platforms.
Strategic Growth through the Acquisition of betFIRST
Recently, the Betsson Group concluded the acquisition of betFIRST, Belgium’s leading betting operator. A further step in bringing us closer to the company’s goal of growth in regulated markets and an enabled footprint across the continent.
The company’s strong Q2 2023 financial results reveal significant growth opportunities across Latin America’s online betting market. As internet adoption expands and regulations evolve, operators gain clear pathways to scale in the region.
Despite being a single operator, Betsson sets the standard and proves that Argentine players demand localized, premium betting experiences.
Disclaimer: All amounts are preliminary and unaudited. (The last Q2 2023 report will go out on July 20.)
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