Betsson is expecting record-breaking revenue for the three-month period, with an estimate of between €199.0m and €201.0m. This would mark a significant increase from the €170.0m generated in Q3 of 2021. Additionally, the company projects earnings before interest and tax (EBIT) to reach a record high of €37.5m to €39.0m, compared to €31.7m in the same period last year.
The growth in revenue and earnings can be attributed to Betsson’s operations in Central and Eastern Europe and Central Asia (CEECA), as well as in Latin America. In fact, during the second quarter, Latin America emerged as the company’s largest market, contributing €45.7m of the total €186.3m revenue.
The upcoming 2022 Fifa World Cup in Qatar, which will take place during the winter instead of the traditional summer schedule, has also served as a boost to Betsson’s sports betting operations. The operator reported a preliminary sportsbook margin of 8.3% for Q3, maintaining the same level as the previous two quarters in 2022 and surpassing the average of 7.7% from the previous eight quarters. Betsson highlighted that the sportsbook has become a more integral part of its business, thanks to product enhancements and expansion into new markets.
Betsson plans to release its full third-quarter results on 26 October.
