Record Q4 drives Betsson to full-year growth in 2024

Betsson Achieves Historic Milestones in 2024 with Unprecedented Growth Metrics

In a remarkable showcase of resilience and innovation, Betsson has declared 2024 its “strongest year ever,” propelled by a record-breaking performance in the fourth quarter. The company reported all-time highs across key financial metrics, including revenue, net profit, and EBITDA.

For the fourth quarter ending December 31, 2024, Betsson’s revenue reached €306.8 million (£255.3 million/$318.8 million), marking a 21.8% increase compared to the same period last year. This achievement signifies the first instance in which quarterly revenue has eclipsed the €300 million mark.

As detailed in the company’s full-year report released on February 6, 2025, Betsson experienced noteworthy growth across its casino and sports betting verticals, with particular success in various regional markets, chiefly in Latin America.

In Q4, overall customer deposits surged to a record €1.58 billion, reflecting increasing confidence in the platform. The total number of active customers reached 1.3 million, although registered players experienced a slight decline of 1.1%, landing at 29.4 million due to strategic withdrawals from certain markets.

CEO Pontus Lindwall attributes this regional expansion to sustained investment in core markets, facilitating Betsson’s establishment of a strong presence in critical locations. “Our investments in the Latin America and Central and Eastern Europe & Central Asia (CEECA) regions continue to be a paramount catalyst for the group’s growth,” Lindwall remarked. “We have successfully built a robust market position by leveraging our expertise in online gaming and our proprietary technology, including our sportsbook.”

He further highlighted, “Our commitment to sports and marketing through strategic sponsorships has significantly strengthened Betsson’s brand and engaged our players globally.”

Unprecedented Growth in Casino and Sports Betting Segments

Examining Betsson’s core business segments, the online casino remains the primary revenue driver, reporting a year-on-year revenue increase of 17%, soaring to €213.9 million in Q4. The company expanded its game offerings by introducing 293 new casino titles, which contributed to a stellar group-wide casino turnover, achieving €9.75 billion—an all-time high, up 6.4% from the previous year.

In the realm of sports betting, revenue rose by an impressive 36.3% to €91.3 million, setting another record for the company. Sports betting turnover also followed suit, growing by 2.3% to attain a historic €1.71 billion.

Contrasting this success, revenue from ancillary products such as poker and bingo saw a year-on-year decline of 23.8%, totaling just €1.6 million and accounting for a mere 1% of overall revenue.

Robust Double-Digit Growth Across Key Regions in Q4

Analyzing regional performance, the CEECA region emerged as the top revenue contributor with €132.2 million, representing a remarkable growth of 23.8%. Betsson reported heightened performance in sports betting and casino sectors, achieving record results in markets such as Croatia, Georgia, Greece, and Lithuania.

Latin America, ranking second in total revenue contribution, also enjoyed significant growth—revenue soared by 46.8% to €78.2 million, underscoring strong performances in Argentina, Colombia, and Peru.

Western Europe also showed commendable growth, with revenue increasing by 26.3% to €52.7 million, bolstered by exceptional performance in Italy and the positive impact of securing an online casino license in Belgium at the beginning of 2024.

Conversely, the Nordic markets faced a downturn, with revenue dipping by 13.8% to €40 million due to reduced casino activities. Meanwhile, revenue from the rest of the world remained stable at €3.7 million.

Solid Bottom-Line Performance at Betsson

A closer look at the bottom line reveals a gross profit of €200.3 million for the quarter, up 21.3%. Operating expenses also increased by 20.2%, reaching €130 million; however, the surge in revenue propelled operating income by 23.2% to €70.2 million.

After accounting for financial income and expenses, pre-tax income climbed to €65.4 million, up 28.5% year-on-year. Following a tax deduction of €12.3 million, net profit concluded at €53.1 million, an increase of 22.6%. Including a €1.1 million benefit from net investments in foreign currency and an additional €700,000 from currency exchange gains, the final net profit figure ascended to €54.9 million, reflecting a 59.1% annual increase.

Moreover, EBITDA for Q4 reached €86.4 million, showing a robust year-on-year growth of 20%.

A Record-Breaking Year for Betsson

While the company provided less granular detail on the full-year performance compared to Q4 results, key financial metrics from 2024 highlight a monumental year. Total revenue climbed to €1.11 billion, representing a 16.8% increase and marking the first time Betsson’s annual revenue exceeded the €1 billion milestone.

Casino revenue surged by 18.4% to €795.4 million, while sports betting revenue increased by 13.6% to €303.4 million. Detailed regional performance data for the year has not been disclosed.

With gross profit rising by 13.9% to €719.4 million and operating profit hitting €256.7 million amid costs totaling €463 million, the group realized a pre-tax profit of €233.7 million, an impressive 20% increase.

Betsson allocated €50 million toward taxes, resulting in a net profit of €183.7 million, up 6.2% year-on-year. Factoring in foreign currency impacts, the final net profit calculation improved to €189 million, reflecting an 11.2% rise. Furthermore, EBITDA for the year leaped 20.3% to reach €316.0 million.

As Lindwall summarized, “Looking back at 2024, it stands as the most accomplished year in Betsson’s history, entrenching our position as a global leader in gaming and betting. We are embarking on a transformative journey in 2025, with geographic expansion and diversification at the forefront, supported by a comprehensive pipeline of initiatives aimed at sustaining growth.”

“Through disciplined capital allocation, strategic initiatives, and a steadfast commitment to enhancing customer experiences, we are poised to continue generating long-term value for our shareholders and customers alike.”