Betsson Group recorded its highest-ever quarterly revenue in Q2 2026, driven by exceptional growth across Latin America and a major boost from the FIFA World Cup.
Revenue rose 2.1% to €310.2m for the three months ending 30 June, compared with €303.7m in Q2 2025, representing a sixth consecutive record for the Stockholm-listed operator.
On an organic basis, stripping out currency movements and acquisitions, revenue growth came in at a stronger 6.1%, reflecting genuine underlying momentum across the business.
Despite the record topline result, profitability took a significant hit, with operating income falling 38.9% year-on-year from €69m to €42.2m, as costs mounted across several areas.
EBITDA dropped 30.5% to €58.5m, down from €84.1m in the prior period, while the EBITDA margin narrowed sharply from 27.7% to 18.8%, reflecting pressure across the group.
Higher gaming taxes, increased payment-provider fees and weaker B2B licence revenue were the primary factors behind the margin compression seen throughout the quarter.
CEO Pontus Lindwall acknowledged the challenges, saying “the higher share of locally regulated revenue, and the higher gaming taxes that follow, is once again a key explanation for the lower profitability compared with the same period last year.”
B2B licence revenue fell sharply from €75.6m to €49.1m, dropping from 25% to just 16% of overall group revenue, with Betsson attributing the decline to reduced activity from one large unnamed customer.
Latin America became Betsson’s largest region during the quarter, with revenue surging 32.3% to a record €112.1m, overtaking Central and Eastern Europe and Central Asia to account for 36% of total revenue.
Argentina, Peru and Colombia each delivered their strongest quarterly performances on record, with Lindwall singling out Peru and Argentina as the region’s “brightest stars” backed by product investment and established brands.
Lindwall described the regional performance enthusiastically, saying: “The increase was broad-based and received an additional boost from the FIFA World Cup, which contributed to high activity among both new and existing customers.”
Western European revenue climbed 8.3% to an all-time high of €64.2m, led by Italy setting new records across revenue, turnover and deposits, while Nordic revenue declined 17.1% to €28.1m.
The number of active B2C customers grew 31.9% to 1.83 million during the quarter, even as customer deposits fell 7.1% to €1.38bn, suggesting players are spreading activity more broadly.
Regulated market revenue increased 17% to €234.2m and now accounts for 75.5% of total group revenue, up from 65.7% in Q2 2025, reflecting Betsson’s continued push toward compliant markets.
Casino remained the dominant product vertical, contributing 70% of group revenue and growing 2.5% to €217.6m, with Betsson adding 376 new games including 32 limited-period exclusives during the period.
Sportsbook revenue was broadly flat at €91.3m, though margin after free bets improved from 9.5% to 10.5%, comfortably above the eight-quarter rolling average of 8.9%.
Betsson also introduced new sportsbook features including Goal Rush and Super Sub, and stress-tested its technology to handle up to five times its usual traffic during the World Cup.
The group secured a sportsbook licence in the Argentine province of Santa Fe in May and plans to launch sports betting there in Q4 2026, opening another growth channel in its most important region.
Early Q3 2026 trading looks encouraging, with average daily revenue between 1 and 13 July running 13.7% higher than the average recorded across the whole of Q3 2025.
Lindwall expressed confidence heading into the second half, stating: “With a competitive product offering and strong market positions, we are well placed to continue creating long-term value for our shareholders.”
