Betsson, an online gambling operator, has announced impressive quarterly revenue figures for the second quarter of 2026. Despite achieving a record revenue of €310.2 million ($361.9 million), the company faced challenges related to increased gaming taxes in regulated markets and a decline in business-to-business (B2B) revenue, which impacted overall profitability.
The revenue for the three-month period ending June 30 saw a modest increase of 2.1%, with organic growth reaching 6.1%. However, the company's operating income plummeted by 38.9% to €42.2 million, while EBITDA fell by 30.5% to €58.5 million, and net income dropped 38.2% to €30.4 million.
CEO Pontus Lindwall pointed out that the company's expanding footprint in regulated markets is a significant factor contributing to the decline in profitability, as these markets come with higher gaming taxes and fees from payment providers.
“The increase in revenue from locally regulated markets, along with the associated higher gaming taxes, is a key reason for the reduced profitability compared to the same period last year,” Lindwall explained.
During the quarter, regulated markets represented 75.5% of the group’s total revenue, a rise from 65.7% the previous year. Conversely, B2B license revenue fell sharply to €49.1 million from €75.6 million, primarily due to decreased activity from a significant client.
Latin America emerged as Betsson's largest market in this quarter, with revenue surging by 32.3% to a record €112.1 million, now accounting for 36% of total group revenue, surpassing Central and Eastern Europe and Central Asia (CEECA). Countries like Argentina, Peru, and Colombia reported record revenues, bolstered by World Cup-related marketing efforts and increased customer engagement.
“As in prior quarters, Latin America showed the strongest growth, achieving a 32% increase to new record levels and becoming our largest region,” Lindwall noted. “This growth was widespread and received an additional boost from the FIFA World Cup, which spurred high activity among both new and existing customers.”
Western Europe also saw record revenues of €64.2 million, particularly driven by Italy, while Nordic revenues experienced a 17.1% decline as Betsson reduced marketing expenditures in Sweden and Denmark due to fierce competition.
The casino segment remained Betsson's largest revenue source, contributing 70% of total group revenue at €217.6 million, while sportsbook revenue remained stable at €91.3 million. In preparation for the World Cup, the company enhanced its sportsbook platform.
Betsson increased its sportsbook capacity to manage up to five times the usual traffic and introduced innovative betting features such as Goal Rush, which applies multipliers based on goals scored, and Super Sub, allowing bets to be transferred to substitutes if the original player is replaced during a match.
Lindwall expressed satisfaction with the sportsbook's technical performance, stating, “We have made numerous UX improvements, making it easier for customers to find betting options.”
Additionally, Betsson secured a sportsbook license in Santa Fe province, Argentina, with plans to launch in the fourth quarter, further enhancing its footprint in one of its fastest-growing markets.
Looking ahead, Lindwall reported that average daily revenue from July 1 to July 13 was 13.7% higher than the average for the third quarter of 2025, buoyed by ongoing World Cup betting activity.
“The FIFA World Cup has given us a strong start to the third quarter,” Lindwall remarked. “With a competitive product lineup and solid market positions, we are well-positioned to continue delivering long-term value to our shareholders.”
Furthermore, the company announced a new €75 million credit facility aimed at supporting future acquisitions. Lindwall emphasized that Betsson sees more promising long-term growth opportunities in Latin America compared to Western Europe.