Operator’s momentum driven by solid casino and sports betting revenues, LatAm expansion, and tech investments
Consistent Revenue Growth Across Key Markets
Betsson AB has reported strong financial performance for the second quarter and first half of 2025, showcasing its ability to generate consistent revenue growth across its diverse portfolio. The Q2 2025 revenue reached €303.7 million, marking a 12% year-on-year increase, while H1 revenue climbed to €597.3 million, a 15% jump from H1 2024. The performance reflects robust contributions from both casino and sports betting verticals, with casino revenue rising 11% and sports betting revenue up 15% year-on-year in Q2.
The company’s EBITDA for the quarter settled at €84.1 million (up 8%), reflecting a solid, though slightly diminished, EBITDA margin of 27.8% compared to 28.6% in Q2 2024. Operating income reached €69 million in Q2 and €133 million for H1, each showing an 8–9% year-over-year increase.
Net Debt on the Rise Amid Expansion
Despite positive revenue trends, Betsson’s net debt increased significantly in Q2 2025—from €93.1 million in Q2 2024 to €151.8 million. This reflects continued investment in technology infrastructure and market expansion. The company’s operating cash flow in H1 was €127.5 million, while net income hit €97.3 million, or €0.71 per share.
CEO Pontus Lindwall attributed the strong performance to strategic market expansion, especially in Latin America, naming Peru and Argentina as standout markets. However, rising debt levels indicate that Betsson is betting on long-term returns from its current investments.
Strategic Shifts and Regulatory Hurdles
Several key developments shaped Betsson’s Q2:
The company abandoned its acquisition of Holland Gaming Technology, opting to pursue alternative strategic avenues.
It was fined SEK 6.5 million (€670,000) by Sweden’s gambling regulator for anti-money laundering (AML) failings, highlighting ongoing compliance challenges in mature European markets.
Betsson launched a new tech hub in Málaga, Spain, reflecting its continued investment in R&D and digital infrastructure.
The operator also signed a sponsorship deal with Belgian football club Club Brugge, entering a new market and bolstering its European brand presence.
Outlook: Momentum with Caution
Looking ahead, Lindwall emphasized confidence and optimism:
“We are entering the third quarter with good pace and confidence. With a constant focus on product development, data-driven marketing and responsible gaming, we are well placed to continue delivering profitable growth.”
However, the combination of increased debt, regulatory scrutiny, and competitive pressure means Betsson’s journey forward must be carefully navigated. Still, with expanding footprints in emerging markets and sustained top-line growth, the company remains a strong player in the global online gaming landscape.
