Active customer numbers reached an all-time high of 1.9 million during the quarter, but increased marketing expenses and personnel costs dragged net profit down year-on-year.
Betsson has reported quarterly revenue of €326.5m in Q3 2026, a new all-time high for the group, though net profit fell 44% year-on-year as marketing and personnel costs offset the top-line growth.
The Swedish operator saw revenue climb 10% during the three months to 30 September, with active customers jumping 40% to a record 1.9 million. The company attributed the customer growth to expansion in established and locally regulated markets.
Casino remained the dominant revenue stream at €253.5m, up 14% from Q3 last year. Sportsbook revenue edged ahead 1% to €71.8m despite gross turnover rising 8% to €1.37bn, helped by the later stages of the 2026 FIFA World Cup during the early part of the quarter. Sportsbook margin after free bets dropped from 8.8% to 8.1%.
Betsson noted that customer deposits and total gaming turnover increased during the period.
Chief Executive Emphasises Business Model Strength
Pontus Lindwall, president and CEO, focused on the positive performance despite lower sportsbook margin.
“Revenue also reached a new all-time high for a single quarter, which is particularly positive given that the sportsbook margin was considerably lower than in the second quarter,” he said. “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.”
Latin America Drives Regional Performance
Activity in Latin America generated the most revenue at €116.1m, up 52% and a new quarterly record. The operator reported strong growth across Argentina, Peru and Colombia.
Betsson also noted the recent shutdown of the Brazil market, saying it is currently uncertain over the long-term impact.
Western Europe revenue climbed 14% to €64.8m, another new record. Italy delivered all-time high figures and France posted growth, though Belgium saw declines.
Central and Eastern Europe and Central Asia (CEECA) fell 17% to €99.2m, as lower B2B licence revenue reflected reduced sportsbook and casino activity and a weaker sportsbook margin. The B2C segment continued to perform well, with Croatia, Georgia, Lithuania, Latvia and Estonia all reporting revenue growth, driven by casino.
Nordics revenue dipped 10% to €32.7m following revenue declines in both Sweden and Denmark. Revenue from the rest of the world was 106% higher at €13.7m, driven by the acquisition of Rhino Entertainment in August.
Cost Increases Drive Profit Decline
Cost of services provided climbed by 37% to €145.4m while operating expenses were 10% higher at €135m, with marketing and personal spend among the costs increasing.
EBITDA declined 23% to €63.4m, with a reduced margin of 19.4%, while operating profit was down 31% at €46.1m. Pre-tax profit was also 36% lower for the quarter at €40.9m.
Betsson paid €12.7m in tax, meaning it ended the quarter with a net profit of €28.2m, down 44% from Q3 last year.
For the nine months to the end of December, group revenue was 3% higher at €922.1m. EBITDA was down 30% at €171.8m, operating profit fell 39% to €122.3m and pre-tax profit was 39% lower at €115.3m. Net profit for the nine-month period amounted to €84.1m, some 43% behind the same point last year.
CEO Upbeat on Q4 Prospects
Lindwall remained positive about the group’s prospects for Q4, noting a positive start to October.
“We now look forward to an intensive end to the year,” he said. “We have a full pipeline of activities aimed at enhancing our customers’ entertainment and engagement. With a scalable business model, attractive products and strong market positions, we are well positioned to return to earnings growth and continue creating long-term value for our shareholders.”