Betsson Posts Record Q3 Revenue of €326.5m on Customer Surge but EBITDA Falls 23 Percent
Betsson reported record Q3 revenue of €326.5m (+10% YoY) and 1.87m active customers (+40%) fueled by football events and casino growth. EBITDA fell 23% to €63.4m on higher duties as regulated revenue share hit 77.7%. Early Q4 revenue trends are positive but margins remain compressed.
SCCG Take — Regulated market expansion lifts tax costs and compresses margins even as customer volumes rise. Casino and Latin America gains demonstrate how product and geographic diversification can offset sportsbook volatility for listed operators.
Betsson AB generated record revenue of €326.5m in Q3 2026, a 10 percent increase year-on-year. Active customers rose 40 percent to 1.87 million, driven by the latter stages of the 2026 World Cup and the start of major domestic football seasons. Total revenue for the first nine months reached €922.1m, up 3.2 percent.
EBITDA declined 23 percent to €63.4m from €82.5m, with the margin contracting from 27.9 percent to 19.4 percent. Betting duties rose from €41.4m to €69.4m as the share of revenue from locally regulated markets expanded from 63.8 percent to 77.7 percent. Gross profit fell 5 percent to €181.1m while operating expenses increased to €135m.
Casino Product Drives Growth Amid Stable Sportsbook Revenue
Sportsbook revenue edged up 0.8 percent to €71.8m, or 22 percent of the total, with the margin after free bets at 8.1 percent. Casino revenue grew 13.7 percent to €253.5m, delivering 77 percent of group revenue. Pontus Lindwall, president and chief executive officer of Betsson AB, stated that the performance demonstrates the strength of the diversified business model.
“Instead, growth was driven by the casino product. This performance demonstrates the strength of our diversified business model, with a broad geographical presence, several strong brands and competitive offerings in both sports betting and casino that complement each other,” Lindwall said.
Regional Gains Offset by Declines Elsewhere
Latin America produced record revenue of €116.1m, up 51.8 percent and representing 36 percent of the group total. Western Europe hit all-time highs at €64.8m, up 13.8 percent. Revenue fell 16.8 percent to €99.2m in CEECA and 10 percent to €32.7m in the Nordics. The Rest of the World segment surged 106 percent to €13.7m after market entry in Alberta and re-entry into Ontario.
Betsson completed its acquisition of Rhino Entertainment for €64.5m, rebranded betFIRST to Betsson in Belgium, and signed a €75m revolving credit facility. As reported by SBC News, average daily revenue through 18 October stood 11 percent above the Q4 2025 average, though sportsbook margins have been significantly lower. Lindwall reiterated confidence in a return to earnings growth with a scalable model and strong market positions.
Reporting: SBC News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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