In a surprise announcement to investors, Betsson AB, the Stockholm-based online gambling group, has forecast Q2 record results. Q2 2023 is set to eclipse all previous records, with revenues predicted to fall between €235.5m and €237.5m.
Accelerated Activity Drives Growth
Driving this unprecedented performance is a marked upturn in customer activity across both the casino and sports betting spheres. What is the net effect? An operating profit that’s headed straight for the record books. Betsson’s bottom-line results anticipate Q2 EBIT to clock in anywhere from €53.5m to €55m, a testament to the higher revenue from active customers and an agile business model that scales effortlessly.
Betsson’s Q2 trading highlights a promising sportsbook margin of about 8.2%, aligning with Q2 2022’s figures and surmounting the rolling average of the previous eight quarters at 7.8%.
Geographical Distribution and Future Expectations
The revenue upsurge is a universal phenomenon, with all regions reporting year-on-year growth. The geographical revenue distribution reveals the Nordics and Latin America each contributing 22%, followed by Western Europe at 11%, Central & Eastern Europe and Central Asia amassing 43%, and the rest of the world at 2%.
Revenues from licensed markets to Betsson’s B2B customers are set to hit somewhere between €64m and €65.5m, equating to about 27% of group revenue. The good news doesn’t stop there; the average daily revenue for Q3 2023 has already risen by 13.7% compared to the entirety of Q3 2022. This increase becomes even more remarkable when adjusted for currency effects and acquisitions, soaring to 22.6%.
Further buoying the period’s highlights, Betsson AB has finalised its acquisition of the Belgian operator betFIRST for €120m, a deal unveiled post Q2 trading closure on July 5. Investors and industry watchers alike will be keenly waiting for Betsson’s full Q2 2023 report, scheduled for release on 20th July.