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Betsson AB ( ($SE:BETS.B) ) has shared an announcement.
Betsson AB reported a 3% drop in first-quarter revenue to EUR 285.3 million and a sharp decline in profitability, as EBITDA fell 36% and net income nearly halved, weighed down by weaker B2B performance and a higher share of revenue from locally regulated markets. The company’s B2C operations, however, grew revenue by 15%, driven by strong gains in Latin America, Western Europe and CEECA, while active customers rose 11% and sportsbook revenue edged higher despite lower turnover.
Management highlighted that B2C investments in still unprofitable markets are currently depressing quarterly operating income by EUR 10–15 million, but are seen as strategic bets for future growth. Betsson is also pushing ahead with its acquisition of Rhino Entertainment Group’s B2C business and technology assets, aiming to strengthen scale, profitability and its B2B offering, as it prepares to leverage product enhancements and the upcoming FIFA World Cup to capture further growth in the global online gaming market.
More about Betsson AB
Betsson AB is a Swedish online gaming company offering casino, sportsbook and related digital gambling services, with a growing focus on locally regulated markets. The group operates globally with strong positions in Latin America, Western Europe and the CEECA region, and its shares are listed on Nasdaq Stockholm’s Large Cap under the ticker BETS B.
Average Trading Volume: 797,508
Technical Sentiment Signal: Hold
Current Market Cap: SEK13.54B
Find detailed analytics on BETS.B stock on TipRanks’ Stock Analysis page.