Betsson revenue up for Q3

Betsson has reported a 21% year-on-year increase in revenue to SEK1.4bn ($150m) for Q3, also posting a 15% increase for the period of January to September.

The operator’s Q3 revenue grew year-on-year from SEK1.2bn, with 16% of its 21% growth coming organically.

Casino revenue also rose by 22%, while sportsbook revenue grew 23% with a margin of 7%.

EBIT for Q3 was SEK340m, a year-on-year increase of 57%, while 2% of overall revenue was related to the Fifa World Cup.

For the period of January to September, Betsson’s revenue rose to SEK3.99bn, with 11% of its 15% year-on-year growth being organic.

EBIT increased by 28% to SEK852m, while net income rose from SEK587.6m to SEK764.5m.

Betsson CEO Pontus Lindwall said: “The improved earnings are a result of the scalability in Betsson’s business, showing that improved products and keeping focus on efficiencies results in higher earnings. 

“Going forward, we expect marketing investments to increase as online gaming licences are introduced in Sweden.”