April 26, 2024 3 min read

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Betsson Starts 2024 with Stellar First Quarter Results

In addition to an increase in the number of active customers and revenue, the company recorded its highest operating income

The leading online gambling company with a strong presence across the globe, Betsson AB, released its interim results for the first quarter of 2024. On Friday, the company disclosed financial details regarding the three-month period between January and March this year, highlighting a number of important achievements, an increase in revenue and growth in the number of active customers.

In its latest report, Betsson revealed that group revenue for Q1 this year hit €248.2 million ($266.4 million). A year-over-year comparison to the €221.9 million ($238.1 million) result reported for the same period in 2023, shows a strong growth of 12%.

Moreover, Betsson confirmed that EBITDA for the first quarter this year soared by 32% year-over-year hitting €71.6 million ($76.8 million). The reported EBITDA margin for the first quarter increased this year to 28.8%, up from the 24.5% reported for Q1 2023.

The recently released interim report reveals that Betsson’s operating income (EBIT) increased by 35%, hitting €57.9 million ($62.1 million). The company also reported an EBIT margin of 23.3%, marking an increase when compared to the Q1 2023 EBIT margin of 19.4%.

Strong Start, Complemented by Increase in the Number of Active Customers

Pontus Lindwall, Betsson’s president and CEO, shared his excitement about the latest results, outlining that the company enjoys a strong start to the year. He acknowledged that the Q1 2024 results marked the highest-ever reported operating income for Betsson.

Lindwall acknowledged a number of important deals and achievements completed by the company in the first quarter. He highlighted Betsson’s dedication to continue growing sustainably and generating stable earnings. “The strategy to achieve this is based on geographic diversification and growth investments within existing markets, new markets, B2B and M&A,” explained Lindwall.

After the positive start to the year, we now look forward to following the final rounds of the European football leagues and cups, before it is time for the best national football teams to measure their strengths in the UEFA Euro 2024 and Copa America in June and July.

Pontus Lindwall, president and CEO Betsson AB

The executive said that Betsson eyes the upcoming rounds of the European football leagues and cups, while also looking forward to the EUEFA Euro 2024, as well as Copa America planned for this summer.

Per the newly released interim report, Betsson’s net income in Q1 this year increased to €42.8 million ($45.9 million). The number of active customers recorded for the first quarter also marked a year-over-year increase. In Q1 2023, Betsson reported 1,115,641 active customers, a number that increased by 15% to 1,281,267 for the latest trading period.

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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 GamblingNews team as he adds a bedrock to our reporting.

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