Betsson announced today that it achieved record revenue of €326.5 million in the third quarter of 2026, a 10% increase compared to the same period last year. The growth in casino operations and robust performance in Latin America compensated for a dip in sportsbook margins and a decrease in B2B licensing revenue. However, profitability faced challenges due to higher gaming taxes and increasing payment costs, leading to a 31% decrease in operating profit, which fell to €46.1 million.
In the interim report released on October 22, the company noted organic revenue growth of 8%, with a significant rise in active B2C customers reaching 1.9 million, marking a 40% increase.
The casino segment generated €253.5 million, reflecting a year-on-year growth of 13.7%. This sector now makes up 77% of Betsson's total revenue, up from 75% in Q3 2025. Casino turnover for the group reached €9.48 billion for the quarter, with the introduction of 478 new casino games, including 40 exclusive titles.
Meanwhile, the sportsbook division saw a modest growth of 0.8%, bringing in €71.8 million, although sports betting turnover increased by 8.1%. The sportsbook margin unfortunately dropped from 8.8% last year and 10.5% in Q2 2026 to 8.1% this quarter.
Pontus Lindwall, Betsson's president and CEO, commented on the strong revenue numbers, acknowledging the concerning margins within sportsbook operations. Latin America continues to be a significant market for Betsson, contributing 36% to its overall revenue, totaling €116.1 million, buoyed by successful operations in Argentina, Peru, and Colombia. Western Europe also showed positive growth, with revenue rising 13.8% to €64.8 million. Italy achieved its best revenue performance, while Belgium experienced declines both year-on-year and quarter-on-quarter. Betsson ceased operations under its betFIRST brand in Belgium in the past quarter.
Conversely, revenue from the Central and Eastern European/Central Asia (CEECA) market dropped 16.8% to €99.2 million, partially due to lower B2B licensing income, although the company enjoyed growth in B2C activities in Croatia, Georgia, Lithuania, Latvia, and Estonia. Nordic revenue fell by 10% to €32.7 million, primarily driven by decreases in Sweden and Denmark.
Earlier in August 2023, Betsson completed the acquisition of Rhino Entertainment Group, which enabled it to enter the B2C sector in Ontario and other Canadian markets while obtaining additional technological assets that augment revenue potential from B2B licensing. The initial purchase price for this acquisition was reported to be €73.1 million on a cash-free and debt-free basis, with goodwill accounting for €47.8 million, differing from the previously suggested price of approximately €64.5 million announced in March.
As of October 18, 2023, the company reported that its average daily revenue for Q4 increased by 11% compared to the overall average for Q4 2025. After adjusting for currency effects and acquisitions, this equates to a growth rate of 9.4%. Betsson indicated that sportsbook publishers at the beginning of this quarter faced significantly lower margins than those observed in the prior eight quarters.
Lindwall stated, "With a scalable business model, attractive products, and strong market positions, we are well positioned to return to earnings growth and continue creating long-term value for our shareholders." The results from Q3 illustrate a clear contrast between Betsson's growing customer base and record revenue against the backdrop of rising profitability challenges driven by taxes, costs, and a decline in B2B licensing income.
