Betson Achieves All-Time High Q4 Results

Betsson AB has achieved significant growth across its business portfolio last year, particularly in Q4 2020.

Betsson Achieves All-Time High Q4 Results

Swedish online gambling company Betsson AB has published its 2020 financial results, revealing particularly impressive Q4 figures. In fact, the company managed to end the final quarter of the year at an “all-time high” in spite of the unprecedented challenges it faced across all of its operating regions.

In Q4 2020, Betsson managed to generate a total of kr 1.76 billion (around $211 million) in group revenue, which marks a dramatic 37% increase compared to the kr 1.29 billion (~$154.4 million) in Q4 2019.

Betsson has also achieved substantial growth across its product portfolio, including a 33% year-on-year casino revenue increase to KR1.28 billion. More impressively, the company’s sportsbook revenue is up a whopping 47% year-on-year to KR459 million.

Betsson also saw a surge in player numbers in the final quarter of the year. According to the figures, the total player base across all of the company’s games has expanded by 44% to around 980,000. Furthermore, the company also enjoyed a higher sportsbook margin of 7.3%.

Overall, Betsson ended the quarter with an operating income (EBIT) of kr 317 million (around $38 million). This marks a 59% increase compared to the kr 200 million that the company generated in Q4 2019.

Betsson CEO Confident in Continued Growth

Betsson Group CEO Pontus Lindwall commented that the online gambling leader has managed to end 2020 with a strong final quarter. Despite the ongoing extraordinary circumstances, online gambling continues to resist market fluctuations and Betsson continues to demonstrate good profitability, Lindwall continued.

He explained that the substantial year-on-year increase across the board is driven primarily by the company’s casino and sportsbook businesses, the latter in part due to higher sportsbook margin in Q4.

Furthermore, Lindwall emphasized that the company was thrilled to continue its already-strong growth in Northern Europe, especially in Denmark and Sweden.

In total, Betsson managed to generate KR6.39 billion (around $770 million) in full-year corporate revenue – a 24% boost compared to the KR5.17 billion ($620 million) in 2019. Meanwhile, operating income is up 30% to KR1.1 billion (around $131 million).