Last updated on February 7th, 2025
Betsson AB has issued its annual financial report highlighting record-breaking numbers for 2024, with increased revenue and a robust performance from its sportsbook, ensuring long-term growth from global strategic expansions.
Namely, for Q4 2024, the company has reported an increase in revenue of 22% year-on-year, reaching $317.9 million/€306.8 million. From here, Q4 saw a 17% increase in online gaming revenue and a 36% increase in sports betting revenue, with the latter’s margin improving to 9.8% from 6.2% in 2023.
The report shows that for the entire of 2024, the total revenue of Betsson surpassed €1.1 billion for the first time ever, noting a 17% increase when compared to 2023, with operating income (EBIT) growing to €256.7 million or by 22%, whereas EBITDA increased by 20% and reached €316 million.
Betsson’s operating cash flow also rose to €272.9 million for 2024, resulting in an increase in shareholders’ dividend payouts, with a €0.10 special dividend per share and a €0.657 ordinary dividend per share.
Moreover, the strong Q4 results are a result of the strong Q3 performance in 2024, which saw revenue growth by 18% or to €280.1 million, and an increase in active customers to 1.4 million or by 10%.
The casino sector is still the biggest contributor to the record-breaking growth, with revenue from online casino gaming increasing by 17% in Q4. This is mostly due to Betsson continuing to invest in its iGaming platform by launching new games and cross-selling features between its casino and sports betting offerings.
Speaking of sports betting, Betsson’s sportsbook also recorded an exponential growth of 36% in Q4, something that was followed by a strong betting performance in Q3 which saw this segment increase to €68.3 million, or by 8%.
Additionally, gaming turnover and customer deposits also broke records in Q4 and continued with strong momentum from Q3, with the company posting its 11th consecutive quarter of EBIT growth.
Consequently, the record-breaking performance of Betsson in 2024 allowed the company to continue with its strategic investments and increase dividends, with its operating cash flow increasing to €272.9 million in 2024, marking an increase of 18.5%, and a net income increase by 6.2%, or to €183.7 million.
However, what is perhaps most significant, is that the success of the company in 2024 allowed the iGaming giant to improve its net debt to -139.8 million, noting an improvement of a whopping 134.6% in this segment.
