Sweden's Betsson Q1 revenue, EBITDA hit by lower B2B revenue, higher regulated market share

Betsson AB

24/04/2026 06:41

Overview

Sweden online gaming group's Q1 revenue fell 3% yr/yr, with organic revenue up 4%

EBITDA dropped 36% as B2B revenue declined and regulated market share increased

Company, in March, agreed to acquire Rhino Entertainment Group’s B2C business, including a Canada license

Outlook

Betsson says daily revenue in Q2 up 3.7% versus same period last yr

Company expects FIFA World Cup to drive increased activity and customer intake

Betsson says sportsbook margin at start of Q2 above eight-quarter average

Result Drivers

B2C GROWTH - Co said B2C revenue rose 15% yr/yr, with strong performance in Latin America, Western Europe and CEECA

B2B DECLINE - Co said B2B revenue decreased due to lower revenue from one customer, weighing on profitability

REGULATED MARKET IMPACT - Higher share of revenue from locally regulated markets contributed to lower profitability

B2C INVESTMENTS - Ongoing investments in new B2C markets reduced operating income by about EUR 10–15 mln in the qtr

Company press release: ID:nWkrbBNTcw

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
EUR 25.50 mln
Q1 EBITDA
Miss
EUR 50 mln
EUR 64 mln (2 Analysts)
Q1 EBITDA Margin
17.50%
Q1 EBIT Margin
11.90%


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the casinos & gaming peer group is "buy."

Wall Street's median 12-month price target for Betsson AB is SEK107.50, about 9% above its April 23 closing price of SEK98.65

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)