Betsson AB has released its financial results for the first quarter of 2025. The figures highlight an 18% increase in revenue compared to the previous year. The company earned $344.9 million, driven mainly by positive results from its casino and sports betting businesses.
In turn, Betsson’s casino segment revenue increased by an identical 18% when compared to the results of the first quarter of 2024. This time, the figure reaches €212.3 million and, complemented by a sports betting revenue of €79.9 million, results in an increase of 22% compared to the previous year.
1st quarter of 2025 encouraging
EBITDA also saw a 9% year-on-year increase to €77.7 million in the first quarter of the year. Meanwhile, its gross profit rose 15%.
Furthermore, the number of active customers of Betsson AB increased by 7% compared to 2024. Also, total deposits increased by 15% to a total of €1.59 billion.
Indeed, positive year-over-year increases in both casino and sports betting also spurred an 8% sports betting margin. This represents growth from the 6.6% recorded in Q1 2024.
Operating revenues increased by 11% to €64 million. Combined with a margin of 21.8%, this is down from 23.3% in the previous year.
Despite several positive increases by Betsson AB, the company’s net debt increased by 89.2% year-on-year, reaching €177.8 million in the first quarter of 2025.
Brazil stands out in Betsson’s financial scenario
As specified by the company, the strong investment in the Latin America region this quarter meant that the region represented 25% of the operator’s total revenue.
From this, generating a total of €74.5 million, an increase of 70.3% compared to the previous year. Specifically, the company reported strong quarterly performances in Argentina and Peru.
However, the company’s most welcome impact came from its recently obtained Brazilian license. The company emphasizes, however, that these results will be more evident from the second half of 2025.
However, by far the main driver of Betsson AB’s revenue in the quarter was the Central and Eastern Europe and Central Asia (CEECA) region.
This represents an 11% increase compared to the results of the first quarter of the previous year. Revenue growth in Croatia and Greece offset declines in countries such as Lithuania, Estonia and Georgia.
However, Greece reported record quarterly deposits, as well as sports betting and casino revenue for Betsson, which means the company is also set to report record revenue in the Italian market during the first quarter of the year in 2025.
CEO comments
Betsson AB CEO Pontus Lindwall reviewed the quarter’s figures: “The start of the year was strong, with continued high customer activity and profitable growth for Betsson.”
“Despite the shorter number of days and seasonal effects, new record levels were achieved in customer deposits and gaming revenues during the first quarter. Group revenue increased by 18% and operating profit (EBIT) increased by 11% during the quarter.”
“The sequentially lower levels compared to the previous quarter can be explained by the lower sports betting margin, which was 8.0% compared to 9.8% in Q4 2024.”
“Betsson’s ambition is to generate stable long-term profit growth through geographic diversification and growth initiatives in existing and new markets.”
“Latin America, in particular, continues to be an important growth region, where we are continually strengthening our positions,” he concluded.
