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Betsson Expects Record Revenue and Operating Profit in Q2

License: Pexels, Free to use, Author: RDNE Stock project

Betsson, the online gambling operator, anticipates achieving record revenue and operating profit for the second quarter of its 2023 financial year. The company projects that revenue for the period ending June 30 will reach between €235.5m and €237.5m, setting a new quarterly record for Betsson. Operating profit is estimated to range from €53.5m to €55.0m, another all-time high for the quarter. Betsson attributes this success to increased revenue and the strong performance of its business model.

The company experienced continued high customer activity in both casino and sports betting, leading to robust financial development. The preliminary sportsbook margin for Q2 was around 8.2%, consistent with the same quarter in the previous year. All regions showed higher revenue year-on-year, with the Nordics and Latin America accounting for 22% each. Western Europe contributed 11% of revenue, Central & Eastern Europe and Central Asia (CEECA) accounted for 43%, and the rest of the world made up 2%. Betsson's Q2 results will be announced in full on July 20.

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