Betsson has published its preliminary report for the final quarter of 2025, reporting stable revenue for the period, as well as a projected decrease in operating income. The company’s suboptimal financials led to a blow to its stock price.
The Company’s Preliminary Q4 Report Shows Mixed Results
In its preliminary reporting, Betsson announced that it expects its Q4 revenue to reach EUR 304 million ($353.4 million) for the period, which would mark a slight decrease from EUR 307 million in the prior-year period.
Betsson provided a breakdown of its revenue for the period, which is as follows:
- Nordics: EUR 34 million ($39.5 million) compared to EUR 40 million in Q4 2024
- Western Europe: EUR 61 million ($70.9 million) compared to EUR 53 million in Q4 2024
- CEECA: EUR 120 million ($139.5 million) compared to EUR 132 million in Q4 2024
- LATAM: EUR 84 million ($97.7 million) compared to EUR 78 million in Q4 2024
- Rest of the world: EUR 5 million ($5.8 million)compared to EUR 4 million in Q4 2024
Despite the improvements in the Western Europe and LATAM segments, the company’s broader financial performance experienced a slight decline.
In the meantime, the company’s operating income (EBIT) for the Q4 2025 period is projected to reach EUR 53 million ($61.6 million), down from EUR 70 million in Q4 2024.
Revenue from Betsson’s casino operations improved slightly, reaching EUR 220 million ($255.8 million), up from EUR 214 million in the prior year period. Sportsbook revenue, on the other hand, declined to EUR 83 million ($96.5 million) from EUR 91 million. Revenue from other gaming products stood at EUR 1 million ($1.16 million), down from EUR 2 million.
Additionally, license revenue for the B2B business amounted to EUR 71 million ($82.5 million) in Q4, down from EUR 82 million in Q4 2024. The division’s revenue corresponded to 23% of the total group revenue, down from 27% in the prior year period. Betsson attributed the decrease to the lower revenue of its B2B customers.
Betsson Continued to Invest in Product Development
Betsson reported further details about its business, saying that the period was characterized by strong customer activity and an increased flow of active players. The share of revenue from regulated markets increased from 60% to 68%, highlighting the company’s commitment to compliance and integrity.
At the same time, the company’s focus on regulated markets led to a EUR 10 million ($11.6 million) increase in gaming taxes to EUR 53 million ($61.6 million).
Betsson added that it continued to invest in improving its product mix and enhancing its tech stack to drive future improvements. These initiatives resulted in higher personnel costs of EUR 52 million ($60.5 million) compared to EUR 45 million in Q4 2024.
Despite certain improvements, the release of Betsson’s preliminary figures caused its shares to plummet. As of the time of this writing, the company’s stock is worth SEK 102 ($11.05) apiece.
CEO Lindwall Is Bullish on 2026
Pontus Lindwall, Betsson’s president and CEO, commented on the projected quarterly results, noting that the company’s business is diversified and spans across multiple markets. He added that, in general, the company is experiencing a positive development thanks to its continued investments in product. However, he also acknowledged that these investments led to an increase in costs.
Despite the temporary setbacks, Lindwall remained bullish on 2026, citing the favorable start to the year and the rich sporting calendar.
I am optimistic about 2026 where I am especially looking forward to the FIFA World Cup and also to be able to start reaping the benefits of the investments we have made in product development.
Pontus Lindwall, president & CEO, Betsson
The full Q4 report is set to be published on February 5.