In a trading update, Betsson informed revenue for the three-month period is likely to amount to between €199.0m and €201m, either of which would be an all-time quarterly high for the operator and an increase from €170.0m in Q3 of 2021.
Betsson added that earnings before interest and tax (EBIT) could also reach a record high of between €37.5m and €39.0m, up from €31.7m in the same period last year.
The operator said growth was driven by its operations in Central and Eastern Europe and Central Asia (CEECA), as well as in Latin America.
During its second-quarter results announcement, Betsson revealed that Latin America was its largest market, with the region generating €45.7m of the total €186.3m revenue in the quarter.
Betsson is active in Latin America since 2008, making the Group one of the pioneers in the region. Throughout the years, it has earned an in-depth understanding of regional culture and customer behaviour and has positioned itself as one of the main players within the region.
In addition, Betsson also noted that “another growth driver” through the third quarter was an 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,” Betsson said.
“The preliminary sportsbook margin was 8.3 per cent 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 per cent,” the company added.
Betsson expects to publish its third-quarter results in full on 26 October.
Source: GMB
