Betsson has reported its financial performance for Q1 of 2026, revealing a complex picture of regional growth and structural pressures.
Revenue for the period landed at €285.3 million, a slight decrease from last year’s €294 million, as the group navigates a volatile global iGaming landscape.
The B2B Revenue Crisis
The primary drag on profitability was the B2B division, where revenue from system delivery crashed from €90 million a year ago to just €51 million. This steep drop was largely attributed to reduced activity from a single major client. The reliance on this B2B pillar significantly impacted the bottom line, with EBITDA falling 36% year-on-year to €50 million.
Operating profit margins simultaneously slipped from 26.5% to 17.5%, a trend mirrored by other Swedish-listed names like Evolution AB and Kambi.
B2C Resilience in Latin America
While B2B struggled, the B2C arm remains a powerhouse, growing 15% overall. Latin America was the standout performer, with a 25% revenue surge driven largely by strong operations in Peru. This region now accounts for roughly one-third of group totals. Conversely, revenue in the Nordics fell nearly 17%, as tightening regulations in Sweden and Denmark continue to weigh on casino performance.
Future Outlook and Acquisitions
Q1 shows that Betsson remains committed to expansion, recently finalizing a €64.5 million deal to acquire parts of Rhino Entertainment Group, granting the firm access to the Canadian market. With the 2026 FIFA World Cup approaching, management expects a significant surge in sportsbook activity.
Early Q2 trading is already outpacing 2025 levels, suggesting that while the group is in a transitional phase of investment, costing up to €15 million per quarter in non-profitable markets, the long-term strategy remains anchored in diverse global expansion.
