Swedish gambling operator Betsson reported record group revenue of €326.5m ($366.8m) for the third quarter of 2026, up 10.4% year-on-year, while net income dropped 44% to €28.2m.
The results extend a year in which consumer-facing growth has outpaced earnings. EBITDA fell 23% to €63.4m, taking the EBITDA margin to 19.4% from 27.9%. Operating income decreased 31% to €46.1m.
Casino revenue increased 13.7% to €253.5m, accounting for 77% of group revenue. Sportsbook revenue was almost flat at €71.8m, despite higher turnover, as the sportsbook margin narrowed to 8.1% from 8.8%.
Betsson said the FIFA World Cup and the opening of major European football leagues sustained customer activity. Its active B2C customer base grew 40% to 1.9 million.
Betsson Q3 revenue, EBITDA and net income - 2025 vs 2026
€m. Revenue rose 10% year-on-year while EBITDA fell 23% and net income fell 44%.
Latin America generated €116.1m, a 51.8% increase and 36% of group revenue. Betsson identified Argentina, Peru and Colombia as growth markets. Western European revenue rose 13.8% to €64.8m, supported by casino activity in Italy.
The Nordics declined 10% to €32.7m and Central and Eastern Europe and Central Asia fell 16.8% to €99.2m.
Revenue from licences supplied to B2B customers fell 39% to €46.7m, leaving that business with 14% of group revenue, compared with 26% a year earlier.
Betsson attributed most of the annual decline to reduced revenue from one customer. Its betting duties climbed 68% to €69.4m, while revenue from locally regulated markets rose to €253.8m, or 77.7% of the total.
In August, Betsson completed its acquisition of Rhino Entertainment's Canadian consumer operations and technology assets. The acquired business contributed to the quarter and revenue in the rest-of-world segment more than doubled to €13.7m, primarily reflecting Canada.
The deal also adds middleware and front-end technology intended for Betsson's B2B customers.
For the first nine months, group revenue reached €922.1m, EBITDA was €171.8m and net income was €84.1m. Average daily revenue through 18 October stood 11% above the full fourth-quarter 2025 average, although Betsson cautioned that the comparison is an early trading indication rather than a quarterly forecast.
The operator's Q2 results prompted a July interview with Betsson CEO Pontus Lindwall in Global Gaming Insider, focused on B2B weakness and Latin American growth. Both trends continued in Q3.
Betsson arranged a €75m two-year revolving credit facility in July, with an option to extend it for a further year
