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Betsson Group has published its revenue results for the first quarter (Q1) of 2023. The company has recorded excellent results in sports betting and online casinos. The revenue for the first quarter ( January to March) has increased by 30% year on year to €221.9 million. This shows a steady organic increase of 38%! Additionally, the Group has recorded an EBIT margin of 19.4% and an operating profit of €43.0 million, representing an increase of 82% year on year.
These results show the company’s continued profitable growth and massive cash flows. Revenue from the B2B model has been increasing, reflecting the investments made in product and technology developments.
Pontus Lindwall, President and CEO of Betsson AB said: “For 60 years, we have been offering entertainment in the form of casino games, sports betting, and other types of games. Having a long-term perspective is the key when it comes to Betsson’s view about how the business should be run and how value is created for shareholders.
“In the past years, investments have been made to expand geographically to new markets and to strengthen the product offering and the competitive position. We can see that these efforts continue to pay off.”
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Betsson AB is prepared for a successful year bolstered by these impressive financial results and the ability to continue investments in sustainable gaming and B2B operations.
“Betsson started 2023 with yet another strong quarter, again delivering record numbers for revenue and EBIT, even though the first quarter has historically often had less activity than other quarters. Revenue increased organically by 38%, with sustained positive developments in both sports betting and casino. Geographically, revenue increased in all regions except for the Nordics,” concluded Lindwall.
Click to read BETSSON AB (PUBL) INTERIM REPORT JANUARY – MARCH 2023.