Betsson Group, a well-known Swedish online casino and sports betting operator, is expecting remarkable revenues in the second quarter of 2023 highlights betting potential in Latin America. The company anticipates reaching figures between EUR 235.5 million (USD 261.9 million) and EUR 237.5 million (USD 264.1 million), marking its highest revenue achievement in a three-month period. These impressive numbers not only highlight the profitability of the betting industry but also shed light on the significant opportunities available in markets, particularly in Latin America.
The robust financial performance of Betsson Group can be attributed to increased revenues and the scalability of its business model. The projected operating profit (EBIT) for the same quarter is estimated to be around EUR 53.5 million (USD 59.5 million) to EUR 55 million (USD 61.2 million), surpassing the consensus estimates of analysts.
Casinos and Sports Betting
Betsson Group attributes its success in the second quarter of 2023 to substantial customer activity in both the casino and sports betting sectors. This heightened activity has translated into substantial financial growth for the company.
Regarding sports betting, Betsson Group provided details about the preliminary sports betting margin, which was approximately 8.2% for the quarter. While this figure is in line with the corresponding quarter of the previous year, it is higher than the moving average of the last eight quarters.
The breakdown of revenues by region is also noteworthy.
Betsson Group expects revenue to increase across all regions compared to the corresponding quarter of the previous year. The projected revenue distribution is approximately as follows: Nordic 22%, Latin America 22%, Western Europe 11%, Central and Eastern Europe and Central Asia 43%, and the Rest of the World 2%.
Additionally, Betsson Group is anticipating significant revenue from licenses for delivering systems to B2B clients, estimated to account for around 27% of total revenue, ranging from EUR 64 million (USD 71.2 million) to EUR 65.5 million (USD 72.9 million).
These optimistic revenue projections align with Betsson Group’s recent completion of the acquisition of betFIRST, a major gambling operator in Belgium. The company’s strategic expansion and focus on new markets have contributed to its financial success.
Betsson Group’s remarkable revenues in the second quarter of 2023 underscore the immense betting potential in Latin America. As the company continues to expand its operations and focus on new markets, it highlights the significant opportunities that lie ahead for the betting industry in the region. Unlock the promising prospects offered by Latin America’s growing betting market.
It’s important to note that these figures are preliminary estimates and have not been reviewed by the company’s auditor.
The full financial report for the second quarter of 2023 will be published on July 20, providing a comprehensive overview of Betsson Group’s performance during this period.
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