Betsson revenue up, but profitability dips amid rising costs
Betsson has reported record quarterly revenue of €326.5 million for the three months ending September 2026, although rising costs and weaker profitability saw net income fall 44% compared with the previous year.
The Swedish-listed gambling group’s revenue increased 10% from €295.8 million a year earlier, driven largely by online casino activity and continued expansion in Latin America.
However, operating profit declined 31% to €46.1 million, while EBITDA fell 23% to €63.4 million.
Net income dropped from €50.1 million to €28.2 million, highlighting the gap between the company’s revenue growth and its ability to convert that growth into earnings.
Casino revenue increased 14%, while sportsbook revenue grew just 1%, with the sportsbook margin declining from 8.8% to 8.1%.
Latin America was the standout region, recording revenue growth of more than 50%, with Peru and Argentina performing particularly strongly.
Chief Executive Pontus Lindwall said the region had benefited from strong customer activity and marketing around the FIFA World Cup.
“Growth was driven primarily by Latin America, where the positive momentum continued,” Lindwall said.
The number of active customers across Betsson’s consumer business increased 40% to approximately 1.9 million.
Betsson also benefited from the acquisition of Rhino Entertainment Group, completed in August, which contributed positively to quarterly revenue and earnings.
The company strengthened its European presence by introducing the Betsson brand in Belgium, replacing the existing betFIRST branding.
Despite the year-on-year profit decline, operating income improved compared with the second quarter of 2026.
For the first nine months of the year, Betsson generated revenue of €922.1 million, up 3%, while operating profit fell 39% to €122.3 million.
The results underline the pressure facing gambling operators as regulatory costs, market conditions and investment requirements erode margins, even where customer activity continues to grow.
