Betsson AB (publ) – trading update for the third quarter 2022

• Continued strong development for Betsson in the third quarter, driven by high customer activity in general. Revenue for the quarter is expected to be in the range of EUR 199-201 million, which is the highest level ever for Betsson in a single quarter.
• Record-high operating profit (EBIT) in the third quarter, expected to be in the range of EUR 37.5-39.0 million, which is above consensus for the period.
• High customer activity in general, combined with a favorable revenue mix and Betsson’s scalable business model, have contributed to the higher EBIT.
• The preliminary sportsbook margin was approximately 8.3 percent for the quarter, which is at the same level as in the previous two quarters in 2022, but somewhat higher than the historical average.

Betsson expects to report new record revenue and EBIT in the third quarter, driven by both sportsbook and casino. Group revenue is expected to be in the range of EUR 199-201 million and EBIT is expected to be EUR 37.5-39.0 million. The corresponding figures in Q3 2021 were EUR 170.0 million and EUR 31.7 million, respectively.

Growth has been driven by the regions Latin America and Central and Eastern Europe and Central Asia (CEECA). Another growth driver in the third quarter has been the early start of the major European football leagues in August, due to the upcoming World Cup in November-December.

The sportsbook continues to develop into a more important part of the total business for Betsson, thanks to investments to strengthen the product in recent years and geographical expansion to several new markets. The preliminary sportsbook margin was 8.3 percent for the quarter, which is at the same level as in the previous two quarters in 2022, but somewhat higher than the average of the past eight quarters of approximately 7.7 percent.

Complete information will be reported in connection with Betsson AB's interim report on October 26, 2022.
 

For further information, please contact:
Martin Öhman, CFO Betsson AB
+46 (0)8 506 403 00, ir@betssonab.com

Roland Glasfors, Vice President Communications & Investor Relations, Betsson AB

+46 760 024863, ir@betssonab.com

 
This information is information that Betsson AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above, at 15.00 CEST on October 6, 2022.

About Betsson AB
Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, and with local adaptations. Betsson AB is listed on Nasdaq Stockholm (BETS B).