Betsson AB (BETS_B) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

The second quarter was another good quarter with revenue and EBIT growth supported by year-over-year growth in deposits and increased casino turnover, increased casino and sport book revenue and maintained cost control. Number of active customers is more or less flat compared to last year following Betsson's decision in the end of 2024 to pull out the markets without a clear path to local regulation. and a few African markets, such as Kenya and Nigeria, as a consequence of the ongoing evaluation of the group's market strategy for Africa. Another impacting factor is that the second quarter last year included both the Euros and Copa America, where you typically see increased player activity. The gross turnover in Sportbook across all bets on gaming solutions was close to 1.5 billion euro, a decrease of 4% year-over-year. Sportbook margin was 9.5%, which is higher than the 8.6 margin in the second quarter last year, and above the two-year rolling average margin of 7.9%. Sportbook revenue increased by some 15% compared to last year and amounted to 90 million, which is the second highest Sportbook revenue ever, only beaten by Q4 last year by some 1.3 million euro. Casino turnover is slightly up year on year and casino revenue increased by 11%, which is also the second highest casino revenue ever, only beaten by Q4 last year by some 1.5 million euro. Casino revenue represented 70% of the group's total revenue in the quarter and sportbook sum 29%. Reported revenue for the second quarter amounted to 304 million euro, the second highest revenue ever in a single quarter and an increase of 12% year on year and 16% organic growth. Revenue from locally regulated markets increased by 33% compared to last year and now constitutes 66% of total revenue compared to 55% last year. Reve...