Betsson sees 8 revenue rise for Q1 driven by sportsbook growth

Betsson’s revenue for Q1 2022 increased by 8% year-on-year to €170

Betsson’s revenue for Q1 2022 increased past 8% year-on-year to €170.2m ($179m), despite a 5% pearl inward online gambling casino revenue.

This rising was goaded in the first place by important sportsbook growth. For January, Feb and March, this segment generated €56.4m inwards revenue, up 45% from Q1 2021.

An increment inward sportsbook receipts turnover, which was up 10% from endure year, and a larger sportsbook perimeter – after liberate bets – are primarily responsible for this revenue rise.

The first of all canton of 2022 saw warm returns from domestic football game leagues, alongside especially strong returns from the Champions and Europa League competitions, said Betsson.

Active customers likewise increased during the for the first time canton of this year, climbing past 33% from 948,109 for Q1 2021 to to a greater extent than 1.2 million.

However, as previously mentioned, online gambling casino revenue was cut down on a year-over-year basis. For Q1 2022, this expanse generated €110m, an o'er €6m shine from the prior-year period.

Betsson attributed this driblet to the Netherlands, where it stopped up(p) accepting customers, as good as regulatory changes inwards Germany.

And boilersuit sack up income was also down. For Q1, this amounted to nearly €21m, an about 12% step-down from the prior-year period’s €23.7m.

This fall down can buoy be part attributed to a hike in expenses, including increased personnel expenses and expenses linked to young market place entries, inward special the US.

Nevertheless, Betsson CEO Pontos Lindwall remained optimistic, commenting: “Thanks to a goal-oriented act from our employees, we get been able-bodied to occupy vantage of the growth opportunities identified, which has resulted in increased revenue and levelheaded profitability.”

He added: “All inward all, the yr has been sour to a upright starting line as there are many of import activities that we seem send on to during the difference of 2022.”