Home > Finance > Betsson hits EBIT record in Q2 with 76.8% annual rise

Betsson hits EBIT record in Q2 with 76.8% annual rise

| By Marese O'Hagan
Casino and sports betting group Betsson has reported its most successful quarter ever in terms of earnings before interest and tax (EBIT), which is projected to fall between SEK375m and SEK385m (£31.5m-£32.4m/€36.8m-€37.7m).

This is an estimated increase of up to 39.4% compared to Q1, and a rise of 76.8% year-on-year.

The operator contributed this to a rise of sportsbook use during the Copa América and the Euro 2020 tournaments, along with a high sportsbook margin

Betsson said that the total operating income was also boosted by the reversal of a SEK20m sanction from the Swedish Gambling Authority, Spelinspektionen, which was overruled by the Swedish Administrative Court last month.

Spelinspektionen chose not to appeal the decision..

In terms of revenue, Betsson estimated an amount between SEK1.73bn-SEK1.75bn for the second quarter of 2021, a potential rise of up to 10.3% compared to Q1 and up to 14.1% year-on-year in a profitable quarter.

The operator also revealed that customer numbers have risen by an estimated 25% from 820,521 in the second quarter of 2020, and sportsbook turnover has increased by 73% from SEK4.82bn year-on-year.

Betsson’s full Q2 2021 results will be available on 22 July 2021.

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