Betsson grows players but earns less profit in third quarter

Betsson's third quarter 2026 results show revenue growing while profit declined. In its interim report published on October 22, the gambling and betting company reported net revenue up 10 percent year on year to 326.5 million euros. However, EBITDA fell 23 percent to 63.4 million euros.

Most of the remaining gap is explained by gambling taxes. The consumption tax tied to local licenses rose by 28 million euros this quarter to 69.4 million euros. By calculation, about 91 percent of the 30.7 million euro revenue increase was absorbed by this tax burden. The tax rose in every quarter of the year and reached 21.3 percent of revenue in the third quarter.

Betsson's growth has mostly come from acquiring new customers. Active customers rose from 1.34 million a year earlier to 1.87 million. Meanwhile, revenue per customer fell by about 21 percent. Casino revenue made up 77 percent of the group's total, while sports betting operated at a lower margin.

By region, Latin America stood out. Revenue in the region rose 52 percent to 116.1 million euros. In Central and Eastern Europe and Central Asia, revenue fell 17 percent.

The company said Rhino Entertainment, which it bought for 73.1 million euros, added 12.8 million euros in revenue for the quarter. Currency exchange differences reduced reported revenue by 6 million euros.