Betsson expects ‘highest’ single quarter revenue ever in Q2 2023

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Betsson AB has stated the second quarter of 2023 is expected to produce “the highest level ever” in revenue for the operator in a single quarter.

Posting a trading update ahead of its Q2 2023 trading results, Betsson noted that revenue for the period is expected to be around €235.5m to €237.5m.

Strong financial trading for the Stockholm-listed operator has been attributed to substantial casino and sports betting customer activity, leading to a new company record in operating profits. 

Betsson declared that Q2 EBIT is estimated to stand at  €53.5m to €55m thanks to the increased revenue and the operator’s scalable business model.

Preliminary sportsbook margin for the quarter is expected to be approximately 8.2 per cent, in line with what was recorded during the same period the previous year (Q2 2022: 8.3 per cent) and higher than the rolling average of the last eight quarters (7.8 per cent). 

Across all regions, group revenue has increased year-over-year, split approximately: 22 per cent for the Nordics, 22 per cent for Latin America, 11 per cent for Western Europe, 43 per cent for Central & Eastern Europe and Central Asia and two per cent for Rest of the World.

License revenue for system delivery to B2B customers is expected to amount to €64m to €65.5m, approximately 27 per cent of group revenue.

So far in Q3, up to and including July 9, average daily revenue is up by 13.7 per cent compared to the full Q3 2022. The average daily revenue for the period is 22.6 per cent higher compared to the full Q3 2022 when adjusted for currency effects and acquisitions.

Following the end of the quarter on July 5, Betsson also completed the acquisition of Belgium operator betFIRST.

Betsson will publish its complete Q2 2023 report later this month on July 20.