Betsson’s year of unprecedented growth and innovation

Lea Hogg 2 months ago
Betsson’s year of unprecedented growth and innovation

Betsson Group has reported a record-breaking performance for 2023. The company’s group revenue rose by 14 percent to €251.9 million in Q4, contributing to a full-year revenue of €948.2 million, a new high for the company.

This growth marks the eighth consecutive quarter of sequential growth for Betsson, driven by a significant 25 percent increase in casino revenue, which reached a record €182.8 million. Of this, a substantial €157.8 million was generated from mobile devices, highlighting the growing importance of mobile gaming.

Despite an 18 percent increase in sportsbook gross turnover across all of Betsson’s gaming solutions, reaching a record €1.68 billion, sportsbook revenue fell by 5 percent to €67.0 million. This was due to a lower sportsbook margin of 6.2 percent, compared to 7.3 percent in Q4 2022.

Betsson Q4 2023 (€)Q4 2022 (€)FY 2023 (€)FY 2022 (€)
Casino182.8m146.1m672.0m514.7m
Sportsbook67.0m70.7m267.0m250.7m
Other Products2.1m3.8m9.2m12.0m
TOTAL251.9m220.6m948.2m777.2m
Source: SiGMA

Revenue from other products, including poker and bingo, represented just 1 percent of Betsson’s total Q4 revenue, falling by 45 percent to €2.1 million.

In terms of customer engagement, active customers were down 6 percent year-on-year at 1,345,129, while total registered customers rose 11 percent to 29.7 million.

CEO comment

Betsson’s CEO, Pontus Lindwall, (pictured above), reflected on the company’s 60-year history of offering entertainment in the form of casino games, sports betting, and other types of games. He highlighted the company’s role in leading the digitalisation of the gaming industry and its continued commitment to innovation.

Lindwall also noted the strategic initiatives taken in 2023 to strengthen the product offering, manage risks through geographic diversification, and create conditions for continued profitable growth with an increased share of revenues from locally regulated markets.

Regionally, revenue from the Nordics declined by 13 percent to €46.4 million in Q4, with decreases in Sweden and Finland offset by growth in Denmark. Western Europe saw a 62 percent increase in revenue to €41.7 million, driven by a record performance in Italy and growth in Belgium. Revenue from Central & Eastern Europe and Central Asia (CEECA) rose 25 percent to €106.8 million, while Latin America revenue climbed 2 percent year-on-year to €53.3 million.

Despite these successes, Lindwall acknowledged the challenges faced in the sportsbook sector, with the quarter’s sportsbook margin of 6.2 percent being the lowest reading for a single quarter in the past two years. However, he reaffirmed Betsson’s commitment to offering competitive odds and chances for customers to win, stating that this is a key part of their vision to offer the best customer experience in the gaming industry.


Stop Press: the next SiGMA Eurasia Summit takes place in Dubai between 25 – 27 February!

The next SiGMA Africa Summit takes place in Cape Town between 11-13 March !

With less than a month until the highly anticipated SiGMA Africa event kicks off in Cape Town, South Africa on the 11th of March, the gaming industry is abuzz with excitement. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Africa is strategically positioning itself at the forefront of Africa’s burgeoning gaming landscapeWith the continent’s market poised for exponential growth, driven by a rapidly evolving digital ecosystem and increasing mobile connectivity, SiGMA Group recognizes the need to foster collaboration and innovation within the industry. By bringing together leading stakeholders and visionaries in gaming, SiGMA aims to catalyse progress and propel Africa towards a new era of prosperity and opportunity. As the countdown to the event begins, anticipation mounts for what promises to be a landmark gathering of gaming enthusiasts and innovators in the vibrant city of Cape Town.
The fourth edition of SiGMA Eurasia will once again be held at the InterContinental Dubai Festival City. Held between the 25 and 27 February 2024, the summit provides invaluable opportunities for attendees to network with industry professionals, gain exposure to the latest tech and innovations in the sector, meet key decision makers, and gain insight into new markets.  

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