Betsson AB presented a clear strategy in the fourth quarter: sacrifice part of short-term profitability to strengthen your presence in regulated markets and invest in products and technology. The decision put pressure on margins, but led to an all-time record share of regulated revenues and kept customer activity high.
During the release of the results, the company’s leadership reinforced that operational performance remains healthy, despite the drop in profitability indicators.
CEO Pontus Lindwall highlighted that the growth of the user base is more relevant than quarterly fluctuations in margins.
“We saw continued good customer activity, with a higher number of active players compared to the same period last year.”
According to the administration, the increase in the number of active customers is the main indicator of business healthsurpassing specific metrics such as EBITDA or sports betting margin.
Regulated markets reach record participation and put pressure on margins
The main strategic move of the quarter was regulatory. Betsson reported that regulated markets now represent 68% of total revenuethe highest percentage in the company’s history.
In the fourth quarter of 2024, that number was 60%.
Although the change reduces legal and operational risks, it increases costs, especially with gaming taxes.
“Lower B2B revenue, higher taxes and continued investments in products and technology negatively impacted profitability in the quarter,” the company stated.
In practice, Betsson chose to more predictable and safe recipeseven if this results in narrower margins in the short term — an increasingly common movement among large European operators.
Casino grows while sports betting retreats
Performance by vertical showed different paths:
- Online Casino: growth of 3%, recording the second highest casino revenue in the group’s history
- Sports betting: down 9% year-over-year attributed to lower margins
The casino responded by 72% of total revenuereinforcing its role as a more stable engine, while sports betting remains more volatile quarter by quarter.
B2B segment loses strength
Betsson also reported a decline in the B2B segment, attributed to lower activity from one of its main customers.
The data reinforces that the group’s growth is increasingly concentrated in B2C operationsaimed directly at the end consumer.
Continuous investment in technology and product
Another central point of the quarter was the deliberate increase in investments.
“We continue to invest in products and technology to strengthen the customer experience and our long-term competitiveness.”
These investments increased operational and personnel costs, but are part of a strategy to consolidate and strengthen the platform.
Consolidation rather than aggressive expansion
The period was marked by the absence of acquisition announcements, entry into new markets or major regulatory disputes. Despite rumors involving possible acquisitions, management did not comment on M&A moves.
The company’s focus was organize the house, strengthen regulated markets and prepare the structure for sustainable growth.
According to Lindwall, Betsson enters 2026 with a scalable base, more active customers and solid positioning in licensed jurisdictions.
📊 Financial summary – 4th quarter
- Revenue: €304 million (down 1% year on year)
- Casino: +3%
- Sports betting: -9%
- EBITDA margin: 22.8% (vs. 28% in the previous year)
- EBIT margin: 17.5% (vs. 22.9%)
- Active customers: 1.4 million (compared to 1.3 million)
- Proposed dividend: €0.66 per share
- Share buyback program: €40 million
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Fonte: Gaming365 – Brasil
