Betsson Q1 2025 Report – Latin America Drives Record Revenue Growth

Betsson Group kicked off 2025 with a strong first-quarter performance, reporting its highest-ever Q1 revenue of €293.7 million. This figure marks an 18.3% increase year-on-year, fueled largely by explosive growth in Latin America. The company’s expansion into Brazil’s regulated market and increased activity across Argentina and Peru helped boost deposits to a record €1.59 billion.

The Swedish operator’s Q1 earnings reflect a well-executed global strategy. While Latin America delivered a remarkable 70.3% revenue surge, the group also achieved growth in Central & Eastern and Western Europe. However, revenue in the Nordics and the Rest of World segments declined, signaling regional headwinds in places like Sweden and Asia.

Brazil Licensing Sparks New Growth Phase

In March 2025, Betsson secured a full license in Brazil, strengthening its long-standing presence in the country. The move allows the company to expand legally within one of the world’s most promising iGaming markets. According to CEO Pontus Lindwall, Brazil now represents a long-term growth engine for the group, with scalable offerings tailored to the region.

“Latin America continues to play a key role in our growth story,” said Lindwall. “We’re building toward sustainable profit through global expansion.”

Casino and Sportsbook Continue to Lead Earnings

Casino games remained Betsson’s primary revenue source, contributing €212.3 million—72% of total Q1 revenue—a 17.6% increase. This growth was supported by the release of 470 new casino titles. Meanwhile, sportsbook operations climbed 21.6%, reaching €79.7 million. A higher margin of 8% (up from 6.6%) indicates improved performance and betting outcomes.

Poker, bingo, and other verticals fell to €1.6 million, a 27.3% decline year-over-year, showing waning demand outside core products.

Customer Deposits Hit Record €1.59 Billion

Player deposits rose 15.2%, reaching a record high in Q1. This growth was matched by a 7% increase in active players, highlighting strong player engagement despite global economic pressures. Although total registered users dipped slightly (down 0.7%) due to strategic market exits, core performance remained solid.

Lindwall noted that gaming demand is resilient during economic uncertainty, citing continued consumer appetite for entertainment across regulated markets.

Regional Breakdown – Mixed Results Beyond LatAm

• Central & Eastern Europe: Revenue rose 11% to €122.3 million, driven by solid returns in Greece and Croatia.
• Western Europe: Delivered 28.1% growth to €55.6 million, with record gains in Italy and stable progress in France and Belgium.
• Nordics: Revenue dropped 19.3%, falling to €37.8 million, mainly due to weaker casino activity in Sweden and Denmark.
• Rest of World: Down 14.8% to €3.4 million, reflecting macroeconomic and regulatory constraints in emerging markets.

Bottom Line – Net Profit and EBITDA Growth Continue

Despite increased operating costs, Betsson grew its EBITDA by 8.5% to €77.7 million, while operating profit hit €57.9 million (+9.5%). Gross profit also rose by 14.6%, reaching €187.9 million. The company absorbed €13.4 million in finance costs but still achieved €48.4 million in net profit, a 13.1% increase over Q1 2024.

Outlook – Betting on Global Expansion

Betsson’s performance affirms the strength of its diversified strategy. With Brazil now licensed and Latin America’s contribution rising fast, the company is well-positioned for continued international growth. Its proprietary technology and efficient operating model give it an edge in volatile markets.

“We’re structured for scalability and long-term profitability,” said Lindwall. “Our global reach will drive the next phase of growth.”