“Best Quarter Ever”: Betsson’s Revenue Surpasses €270M in Q2 2024

Swedish gaming company Betsson has released its financial results for the second quarter of 2024. CEO Pontus Lindwall expressed his enthusiasm for the period, describing it as “the best quarter” in Betsson’s history.

Revenue for April–June reached €271.5 million (compared to €236.8 million a year earlier), EBITDA* stood at €77.6 million (up from €67.6 million), and net profit was €44.4 million (down from €46.9 million).

For the first six months of 2024, revenue totaled €519.7 million (compared to €458.7 million a year earlier), EBITDA was €149.2 million (up from €121.9 million), and net profit was €87.2 million (compared to €83.5 million). Revenue from regulated national markets in the second quarter was 55% (up from 36% a year earlier).

“The high customer activity continued throughout the quarter — as expected, the UEFA EURO and Copa America contributed positively in June — resulting in strong key figures across the board. The number of active customers increased by 25 percent and deposits increased by 15 percent. The growth in gross gaming revenue (GGR**) was 7 percent for casino and 17 percent for sports betting compared to the corresponding quarter of the previous year,” noted Betsson’s CEO.

Furthermore, Lindwall highlighted Betsson’s commitment to sports development, emphasizing the recently signed partnership agreement with Serie A champions and last year’s UEFA Champions League finalists, Inter Milan. Over the next four years, the Betsson.sport brand will prominently feature on the team’s jerseys.

For reference, Betsson’s revenue in 2023 reached $1 billion (approximately €920 million).

* Earnings before interest, taxes, depreciation, and amortization.

** GGR is a financial metric used to measure gross earnings, calculated by subtracting total winnings from total bets.