Betsson Q3 2026: Record €326.5m Revenue, EBITDA Down 23%
Betsson AB reported record quarterly revenue of €326.5 million for July to September 2026, a 10% rise on the €295.8 million it booked a year earlier. The Swedish group published its interim report on October 22, 2026, with casino doing the heavy lifting while profit came under pressure.
Casino revenue grew 14%, and the result also follows a period of broader movement among listed operators, as seen when Flutter and Entain reported mixed Brazil results.
Organic growth was 8%, so acquisitions added around two points to the headline figure. The company said the quarter set an all-time high for a single quarter and that active B2C customers reached 1.9 million, compared with 1.3 million in the same period of 2025.
Casino Drives The Record
The mix of the business shifted during the quarter. Casino revenue rose 14%, while sportsbook revenue grew only 1%. The sportsbook margin was 8.1%, down from 8.8% a year earlier, which held back the betting side despite the group reporting higher deposits and total gaming turnover.
Chief executive Pontus Lindwall said the quarter showed the strength of a diversified model with a broad geographical footprint, several strong brands and competitive offerings in both betting and casino. He noted that the record came even though the sportsbook margin was considerably lower than in the second quarter.
The FIFA World Cup and the start of the major European football leagues supported customer activity, according to the company's interim report.
Latin America Leads Regional Growth
Growth was driven mainly by Latin America, where revenue increased by more than 50%. Peru and Argentina stood out, with the company pointing to marketing activity around the World Cup as a key reason for the strong customer activity and revenue gains there.
Betsson also completed its acquisition of Rhino Entertainment Group at the start of August. Rhino was consolidated into the group during the quarter and made a positive contribution to both revenue and earnings.
At the end of the quarter the operator launched the Betsson brand in Belgium by rebranding betFIRST, a move it said supports a more consistent and scalable global brand.
Profit Falls Despite Record Sales
Costs rose faster than revenue. EBITDA fell 23% to €63.4 million from €82.5 million, and the EBITDA margin dropped to 19.4% from 27.9%. Operating income (EBIT) was €46.1 million, down 31% from €66.9 million, with the EBIT margin at 14.1% against 22.6%.
Net income came in at €28.2 million, or €0.19 per share, compared with €50.1 million and €0.34 per share a year earlier. Operating cash flow was €54.5 million, against €64.8 million. The group reported net debt of minus €98.3 million, compared with minus €220.0 million at the same point last year.
Against the previous quarter, however, the picture was better. Betsson said operating income improved on the second quarter and the operating margin edged up, even with the lower margin on its betting site.
Nine-Month Picture And Product Investment
For January to September, group revenue was €922.1 million, up 3% from €893.1 million, or 6% on an organic basis. EBITDA for the period fell 30% to €171.8 million and net income dropped to €84.1 million from €147.5 million. The annual general meeting approved a dividend of €0.66 per share, down from €0.76 last year, when the payout included a special €0.10.
The company continued to invest in its own technology. New sportsbook features included extra betting opportunities during extra time in football matches, along with team and player pages for the biggest European fixtures.
Betsson also launched Gates of Inter, a casino game built for the operator with graphics based on its Inter Milan sponsorship. It is the third sponsorship-themed casino game made exclusively for Betsson, after games featuring Boca Juniors and Atletico Nacional.
Looking ahead, Lindwall said October had started positively and that the group has a full pipeline of activity for the end of the year, with the aim of returning to earnings growth.
