Betsson posts record €326.5m Q3 revenue as Italy hits all-time high

Betsson reported record revenue of €326.5m for the third quarter of 2026, up 10% from €295.8m in the same period of 2025, according to results presented on 22 October by president and chief executive Pontus Lindwall and chief financial officer Martin Öhman on a conference call for analysts. Organic growth was 8%. Italy reached new all-time highs for revenue, customer deposits and play volume, and western Europe set a record for quarterly revenue, though the source does not give the absolute value of Italian revenue.

Online casino remained the main driver, with revenue up 14% and 77% of the total. Sports betting revenue rose 1% and accounted for 22% of revenue, while the sportsbook margin was 8.1%, down from 8.8% in the third quarter of 2025 and below the 9% average of the last eight quarters. Sports betting turnover was close to €1.4bn, up 8% year on year, and active customers reached a new high of close to 1.9 million in the quarter. Latin American revenue grew more than 50% year on year.

EBITDA fell 23% to €63.4m from €82.5m, with a margin of 19.4% against 27.9% previously. Operating profit (EBIT) fell 31% to €46.1m, and net profit dropped to €28.2m from €50.1m. Management said the margin contraction was mainly due to a different revenue mix between B2B and B2C activities, higher gambling taxes in regulated markets and the lower sportsbook margin. Gambling taxes rose by about €28m compared with the same period of 2025.

Lindwall said operating profit had grown on a sequential basis for the second consecutive quarter despite the sportsbook margin being well below the second quarter. Öhman said growth in locally regulated markets brings higher gambling taxes and a shift towards a greater share of B2C revenue, which also carries higher payment services costs. Lindwall said Betsson is working to return the B2B business to growth because it is important for profitability, and that growth could come from existing operator clients and new partners.

On commercial activity, the source cites sponsorship partnerships with Inter and Club Brugge, new shirts for both teams and an exclusive Inter-themed online slot developed under the collaboration. It also cites support for the Davis Cup, whose finals will be held in Italy in November, and the launch of the Betsson Foundation to coordinate the group's social and sporting initiatives. The acquisition of Rhino Entertainment was completed in the quarter and consolidated in results from August; Lindwall said it contributed positively to revenue and profit and strengthens geographic and commercial diversification.

Betsson said average daily revenue from the start of the fourth quarter to 18 October was 11% higher than the average of the fourth quarter of 2025. Lindwall said the quarter had started positively and that customer activity remained high despite a sportsbook margin significantly below the recent historical average. Regulated markets now account for 78% of total revenue, against 64% last year.

On Brazil, Lindwall said Betsson had been present since the market was regulated but had observed an unstable situation with high marketing competition, so it chose to wait and watch how the market develops. He said the decision to limit investment had reduced the group's exposure to recent restrictions introduced in the country, and that he did not regret the caution. He said Betsson does not believe the market will remain closed forever and expects it to reopen in some form.

Asked about customer growth after the summer's major sporting events, Lindwall said a large tournament such as the World Cup brings many new customers and a new level of activity, that not all will remain customers, and that Betsson expects to maintain high levels of activity and customers in future.