Betsson Celebrates Record Revenues
Casino and sportsbook giant Betsson has revealed a record year in its Q4 figures, with $1.14 billion (€1.1bn) in total revenues in 2024.
That’s a landmark figure for the company and a 17% year-on-year increase, while the Q4 figures showed even more encouraging growth. For Q4, the Swedish company posted revenues of $317.9 million (€306.8 million), a 22% increase on the same period last year. Customer deposits and gaming turnover hit all-time records in Q4, too.
While the online casino continues to be the big money-maker, the sportsbook increased its revenues by 36% compared to the online casino’s 17% boost. The sportsbook’s margins rose from 6.2% to 9.8% as well, so the sports betting side of the company is making waves.
Global Expansion Boosts Coffers
Much of the increased revenue can be put down to rapid expansion in Latin America, which should increase this year as Betsson enters the newly-regulated Brazilian market, Central and Eastern Europe and Central Asia. The company also enjoyed success with new bet builder products during the UEFA European Football Championship and Copa America.
In Q3, the company increased its active customer base by 10% to 1.4 million. It also announced a shirt sponsorship deal with Italian football icons Inter Milan and a new official betting partnership with the Nordea Open tennis tournament in Sweden. The company also acquired Sporting Solutions from La Française des Jeux (FDJ) in Q3, further bolstering the sportsbook with enhanced trading and risk management.
For the full year, the Stockholm-based outfit’s operating income (EBIT) grew by 22% to €256.7m, while Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose 20% to $328 million (€316m). The operating cash flow rose to $283.5 million (€272.9m) and the share price rose by 6%. That means an increase in the dividend payouts for the shareholders, and the company has proposed an ordinary dividend of $0.68 (€0.657) with a special dividend of $0.10.
Big Buys and Debts
It’s not all good news, as the company’s net debt rose from -€59.6m to -€139.8m. That’s an 84.2% increase, and it’s explained by the acquisition of Sporting Solutions and a bond issuance and redemption in Q3. Betsson refinanced with new bonds that amounted to $103.8 million (€100m) and repaid bonds worth $61.9 million (€59.6m). This refinancing package, combined with dividend payments issued in June, explains the simultaneous increase in revenues and debt.
2025 is set to be a big year for Betsson and, with 11 consecutive quarters of EBIT growth, there’s no sign of it slowing down for this juggernaut of a casino and sportsbook.
