A prominent online gambling firm, Betsson, concluded 2022 with exceptional results, announcing a substantial 40% revenue surge in the final quarter, reaching €220.6 million (equivalent to $237.4 million USD). This remarkable performance propelled their overall revenue for 2022 to €7.772 billion, marking an 18% increase compared to the previous year.
The company’s achievements were primarily driven by its sports wagering segment, which witnessed a remarkable 76% revenue growth in Q4. Although their internet casino offerings also performed admirably with a 27% rise, it was eclipsed by the sports betting surge.
Profits also experienced significant growth. Betsson reported a 68% year-over-year increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), reaching €51.1 million for the fourth quarter. This contributed to a 12% rise in EBITDA for the entire year, with a robust profit margin of 22.2%.
The company’s strong financial results translated into a net income of €32.7 million for Q4, or €0.26 per share. They also generated a substantial operating cash flow of €75.5 million during the quarter.
However, there were some challenges. Betsson’s debt experienced a notable increase, shifting from a profit of €2.5 million to a loss of €65.7 million.
Reviewing the year, Betsson CEO Jesper Svensson proudly remarked, “Looking back at the past twelve months, 2022 was the most successful year in Betsson’s history, characterized by robust growth and profitability.” He attributed this success to their strategic ventures in emerging markets, continuous enhancements to their technological infrastructure and product portfolio, and a disciplined approach to capital allocation.
Svensson emphasized their impressive organic revenue growth of 27% for the year, highlighting their strong market presence. His remarks followed his recent accolade as the “CEO of the Year” at the prestigious Global Gaming Awards London 2023.
This analysis of Betsson’s performance was initially featured in *Gaming Global* magazine, which also conducted an interview…
At the ICE London 2023 conference, I engaged in a captivating conversation with Betsson’s top executive, Pontus Lindwall, and industry expert Mr. Stevenson.
