Betsson (BETS) Q3 2025 earnings summary

Executive summary

• Revenue increased 6% year-over-year to €296 million, with organic growth of 11% and growth driven by Western Europe (up 27%) and Latin America (up 10%).

• Casino revenue reached an all-time high, up 6% year-over-year; sportsbook revenue grew 4% with a margin of 8.8%.

• Net income rose 16% to €50.1 million, and EPS increased 10% year-over-year to €0.34.

• Revenue from locally regulated markets rose 16% to 64% of total revenue.

• Net cash reached €220 million, and a €40 million share buyback program was initiated.

Financial highlights

• Q3 revenue was €296 million, up 6% year-over-year, with 11% organic growth.

• Operating income (EBIT) was €67 million, up 4% year-over-year, with a margin of 22.6%.

• Gross profit margin improved to 64.2% from 63.8% year-over-year.

• Operating cash flow for Q3 was €64.8 million; year-to-date operating cash flow is close to €200 million.

• Dividend of €104.4 million approved, including a special dividend.

Outlook and guidance

• Early Q4 trading shows average daily revenue up 2.1% (9.5% adjusted) over Q4 2024.

• Management expects continued stable profit growth, supported by a strong balance sheet and major sports events.