July 19, 2024 3 min read

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Betsson Reports Solid Q2 Results, Enjoys Boost from Sports Events

Between April and June, the company posted record results, complemented by sports events and an uptick in active customers

Betsson AB, the growing gambling operator with a strong presence across the globe, released its latest financial update, highlighting strong performance throughout the second quarter.

The latest update comes on the heels of the stellar first quarter results reported by the company earlier this year. Continuing this positive trend, Betsson acknowledged that its interim Q2 2024 results mark the best quarter ever with new record figures.

Per the financial update, group revenue between April and June this year soared to €271.5 million ($295.6 million). This result, compared to the €236.8 million ($257.9 million) reported for the corresponding period last year marks an increase of 15%.

EBITDA for the second quarter this year jumped as well, hitting €77.6 million ($84.5 million). Just like the revenue, a year-over-year comparison of the reported EBITDA shows an uptick of 15%.

Major Sports Events Positively Impact Betsson’s Performance

Besides maintaining the positive momentum from the first quarter, the latest results are a testament to Betsson’s successful growth and profitability strategy.

Important global sports events positively impacted the company’s operations between April and June. Notably, Betsson recorded an uptick in customer activities pushed by Copa America, as well as Euro 2024.

What’s more, the company reported a 25% increase in the number of active customers. Deposits completed by the customers showed an increase of 15%, further boosting Betsson’s operation throughout the quarter.

Other notable achievements completed in Q2 relate to the company’s environmental, social and governance (ESG) efforts. Just before the end of last month, the company was awarded an AAA rating by Morgan Stanley Capital International (MSCI) ESG Ratings.

I am pleased with what we have delivered so far this year and see good growth opportunities in the second half of the year as well.

Pontus Lindwall, CEO and president at Betsson AB

Pontus Lindwall, Betsson’s CEO and president, spoke about the exceptional performance of the company in the first half of the year. He acknowledged the solid results and predicted further growth during the second half of 2024.

Lindwall added: “We continue to invest in geographic expansion and the product offering to enable continued profitable growth and value creation for a long time to come.”

Strong Growth in Revenue, EBITDA for the First Half of 2024

When it comes to the first half of the year, Betsson also reported a solid increase in revenue. Overall, the company reported €519.7 million ($566.1 million) in revenue, representing an increase of 13% year-over-year.

EBITDA for the period between January and June this year increased by 22% to €149.2 million ($162.5 million).

Additionally, Betsson reported a net income for the first half of the year of €87.2 million ($95 million) which represents €0.63 ($0.69) per share.

William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the Gambling News team as he adds a bedrock to our reporting.

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