Betsson Becomes Largest Market in LatAm in Q2

Betsson has reported that Latin America has become its largest market during the second quarter, accounting for 36% of total revenues of €310.2 million for the period. Revenues in the region grew by 32% year-on-year, reaching €112 million, buoyed by record highs in Argentina, Peru, and Colombia. CEO Pontus Lindwall noted that "it had been a goal for the company for some time for LatAm to become our largest market." Although not right from the start, they invest in markets with good profitability prospects, such as Latin America. "We see more structural growth coming from LatAm than from, for example, Western Europe," he added.

M&A Prospects in LatAm

Lindwall mentioned that they have a new credit line of €75 million to finance working capital and future acquisitions. "Our strategy is to grow both organically and through M&A," he stated. "Historically, we have made acquisitions that complement the business we already have and have acquired complete businesses in markets where we are not present." LatAm is a region where they see "more potential and more possibilities" in countries where they still have no presence.

Decline in Revenues from Nordic Countries

In the Nordic countries, revenues fell by 17% due to reduced marketing spend in Sweden and Denmark. "The markets are quite competitive and acquiring new customers is costly, and the regulations are quite strict," Lindwall expressed. Comparing the effectiveness of their investment, they prefer other markets over the Nordics.

Q2 Results of Betsson

Despite strong revenue figures, boosted by the first half of the World Cup tournament, the decline in B2B revenues affected the profitability of the quarter. Active clients in the B2C business increased by 31.9% to 1,825,487, but customer deposits decreased by 7% compared to the same period last year, reaching €1.38 billion. The gross profit was €177.5 million, an 8% year-on-year decrease.

Technical Improvements and AI

Lindwall highlighted technical and product improvements during the World Cup, including an expanded capacity to handle more traffic. He also mentioned investments in AI tools to enhance Betsson's operational capabilities, showing a wide application but with more development potential.

Nicole Macedo took her first steps in local newsrooms in Gibraltar and helped establish the first exclusively online broadcaster in the peninsula.