Betsson Records Double-Digit Q1 Growth Thanks to LatAm Revenue

Betsson posted an 18.3% year-on-year rise in group revenue for Q1, driven by a record-high level of customer deposits during the quarter.

Betsson Records Sizable Growth in Q1 of 2025

For the first quarter of the year, revenue reached $334.7 million, significantly up from $282.8 million in the same period last year, though 4.3% lower than Q4 of 2024. The group’s EBITDA for the quarter amounted to approximately $88.5 million, marking a 9% increase year-on-year, with an EBITDA margin of 26.5%.

Casino revenue remained the largest contributor to the group’s portfolio, climbing 17.6% year-on-year to approximately $241.9 million and making up 72% of total revenue. Sportsbook revenue also saw strong growth, rising to 21.6%, which makes around $90.8 million, accounting for 27% of the total.

Betsson AB CEO Pontus Lindwall explained that the start of 2025 has been strong with continued high customer activity and profitable growth. Despite that, the group saw a slight decrease in the number of registered customers. Currently, there are 30.2 million of them, which is slightly lower than the 30.4 million recorded before. This difference can be explained by Betsson’s exit from some markets. 

While the cost of services climbed 14.6% and operating costs were 16.9% higher, Betsson still saw a stable profit growth. After finance costs, pre-tax profit totaled approximately $73.7 million, reflecting a 13.4% year-on-year increase. Betsson paid $57.8 million in taxes, resulting in a net profit of around $57.8 million, which represents a 13.1% rise.

Where Did Betsson See the Most Growth?

Central and Eastern Europe accounted for approximately $142.8 million of total revenue, reflecting an 11% increase. Betsson attributed this growth to record-high deposits in Croatia and Greece, though it saw declines in Lithuania, Estonia, and Georgia. In Western Europe, revenue grew by 28.1% to around $64.6 million, driven by record revenue in Italy. Year-on-year revenue was also up in both France and Belgium.

In terms of growth, however, Latin America turned out to be Betsson’s fastest-growing region, with revenue soaring 70.3% to approximately $88.3 million. Argentina posted record quarterly revenue, fueled by strong performances in both casino and sportsbook. Peru also experienced growth across both product categories.

While Betsson does not issue formal guidance, for Q2 of 2025, it still remains hopeful. This optimism is further fueled by the success the group saw in 2024 as Betsson recorded its best year yet. According to Lindwall, the group is in a strong position to sustain profitable growth moving forward, thanks to its scalable global business model and proprietary products and technology