Betsson AB has reported its strongest quarterly revenue to date, with group revenue reaching €326.5m for the third quarter of 2026 – an increase of 10% year-on-year and an 8% rise on an organic basis. However, the record top line was accompanied by a sharp decline in profitability, as earnings before interest and taxes (EBIT) fell 31% to €46.1m, producing an EBIT margin of 14.1%.
Strong Top-Line Performance Across the Group
The Stockholm-listed operator reported that customer activity reached an all-time high during the quarter, supported by elevated engagement around the World Cup and the start of the European football season. Customer deposits and total gaming turnover both increased significantly, contributing to the record revenue figure.
The revenue mix was dominated by the casino vertical, which accounted for approximately 77% of total revenue, while sportsbook contributed 22% and other products the remainder. Sportsbook turnover rose 8% year-on-year, reflecting the strength of the sporting calendar during the July-to-September period.
Geographically, Western Europe continued to perform as a key growth driver, with Italy once again standing out as a leading market for the group. Latin America also contributed to the overall expansion, consistent with Betsson’s established presence in the region.
Profitability Compressed by Mix and Acquisition Costs
Despite the revenue record, net income declined 44% to €28.2m, and earnings per share came in at €0.19. The divergence between top-line and bottom-line performance reflects a combination of factors, including a revenue mix that has shifted toward heavily taxed regulated markets, alongside costs associated with the group’s recent acquisition activity.
A notable contributor to the reported figures is the consolidation of Rhino Entertainment Group, which Betsson completed on 3 August 2026 for a total purchase price of €64.5m. The transaction brought Rhino’s Canadian B2C business – including the Casino Days brand – under Betsson’s ownership, along with a set of technology assets supporting its B2B operations. The acquisition also restored Betsson’s presence in Ontario’s iGaming market and positioned the group to access Alberta’s recently launched regulated market.
Chief Executive Pontus Lindwall indicated that customer activity remained high throughout the quarter, crediting the World Cup and the return of domestic football leagues for sustained engagement levels. The market responded positively to the results, with the company’s shares rising 6.2% following the announcement.
