Betsson revenue climbs to new high in Q37th October 2022 9:37 am GMT
Stockholm-listed betting and gaming operator Betsson expects to report third quarter revenue in the region of €199m to €201m.
The company said in a trading update Thursday that the period marked its best quarterly revenue performance to date, driven by high customer activity and strong growth in Latin America and Central and Eastern Europe and Central Asia (CEECA).
The company also benefited from a higher sports betting margin of 8.8 per cent in the third quarter, which compares to a historical average of 7.7 per cent over the past eight quarters.
This is expected to deliver record earnings before interest and tax (EBIT) of between €37.5m and €39.0m, compared to €31.7m in the third quarter of 2021.
Betsson will report its third quarter results on October 26.
Shares in Betsson AB (STO:BETS-B) were trading 1.24 per cent higher at SEK76.65 per share in Stockholm Friday morning.