Betsson posts record revenue as EBIT falls 31 percent

Betsson reached its highest revenue and its largest number of active customers in the third quarter of 2026, but profitability fell short of last year. Group revenue rose 10 percent, from 295.8 million euros to 326.5 million euros. Rhino Entertainment Group has been consolidated since August.

EBIT fell 31 percent to 46.1 million euros. The margin declined from 22.6 percent to 14.1 percent. EBITDA dropped 23 percent to 63.4 million euros. Net profit fell from 50.1 million euros to 28.2 million euros, and earnings per share fell from 0.34 euros to 0.19 euros. Cash flow from operations decreased from 64.8 million euros to 54.5 million euros.

In comments to iGB, CEO Pontus Lindwall advised investors to look at the change from quarter to quarter. EBIT rose 9 percent compared with the second quarter, and the margin increased from 13.6 percent. Lindwall said he could not say when profit growth compared with the same period last year would return.

The main reason for the narrower margin is the market mix. Gross profit fell by 9 million euros to 181 million euros, and the gross margin dropped from 64 percent to 56 percent. Revenue from locally regulated markets grew 35 percent and made up 78 percent of the total. Gaming taxes rose by about 28 million euros to a record level. Latin America, the largest region with a 36 percent share, grew 52 percent. Lindwall said these markets have a different cost and tax structure.

Casino revenue rose 14 percent to a record and made up 77 percent of revenue. Sports betting revenue grew 1 percent to 72 million euros. B2B revenue fell 39 percent because of lower revenue from one customer, while B2C grew 28 percent.