Betsson AB (BETS_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Sportbook across all bets and gaming solutions was more than 1.8 billion euro, an increase of 10% year over year and another all time high. Sportbook margin was 8.0%, which is higher than the 6.6% margin in the first quarter last year and slightly above the two year rolling average margin of 7.8%, but lower than the 9.8% in the fourth quarter last year. Sportbook revenue increased by some 22% compared to last year and amounted to 80 million. The casino turnover is the second highest ever, just slightly below Q4 last year and represents an increase by 9% year on year. Casino revenue increased by 18%, which is also the second highest casino revenue ever, only beaten by Q4 last year by some 1.5 million euro. Casino revenue represented 72% of the group's total revenue in the quarter, and sportbook sum 27%. Reported revenue for the first quarter amounted to 294 million euro, the second highest revenue ever in a single quarter, and an increase of 18% year on year, and 20% organic growth. Compared to Q4 last year, this quarter contains two days less of revenue, This, in combination with the highest port margin in Q4 last year, explains the slight sequential step down in revenue in this first quarter. Revenue from locally regulated markets increased by 60% compared to last year and now constitutes 59% of total revenue in the first quarter. Revenue growth is coming from both the B2C and the B2B business in the quarter. where the B2C business contributed with 204 million in revenue, while some 90 million came from license revenue from B2B customers. The increased license revenue in the quarter is driven by both continued growth for existing customers and the addition of new B2B customers. The acquisition of Sporting Solutions in Q4 2024 and the acquisition of Kikitech in 2022,...