Betsson credits Italy as driver of Western Europe growth in Q3

Betsson achieved 27.3% growth in Western Europe during Q3, naming improved sportsbook and casino results in Italy as the main driver.

On Friday, Betsson announced its Q3 results for the period ending 30 September. Group revenue was up 5.6% to €295.8 million ($343.5 million), while EBITDA (€82.5 million) and operating income (€66.9 million) also increased by 2.7% and 3.7% respectively.

Q3 revenue from locally regulated markets shot up by 16% in Q3, accounting for 64% of Betsson’s total revenue, compared to 58% last year.

Overall growth was powered by performance in Western Europe, particularly Italy which achieved all-time high revenue across the quarter.

This was largely driven by growth in Betsson’s online casino product in Italy, which recorded trecord revenue for the period. The group did not break down its numbers by specific market.

Revenue for the whole of Western Europe’s in Q3 stood at €56.9 million, accounting for 19% of Betsson’s total group revenue for the quarter, up from 16% in Q3 2024. Broken down by vertical, iGaming revenue in the region came in at €45.7 million during the period, while sportsbook was €11.1 milion.

Betsson balance sheet supporting continued investment

In the press release announcing the results, Betsson CEO Pontus Lindwall said Betsson was continuing to “drive the digitalisation” of the global gaming market, with a geographically diversified offering protecting the company from potential headwinds in some markets.

“We have a proven, successful product portfolio consisting of both casino and sports betting, as well as a well-diversified mix of revenues from different geographical regions, which lowers the risks of periodically weaker developments in individual products or markets,” Lindwall said.

“I look forward with confidence to the end of the year and ahead to 2026 with the upcoming World Cup in football. Our strong balance sheet enables continued investments in product development and strengthened market positions to support continued stable profit growth and dividends to our shareholders.”

Record LatAm casino revenue for Betsson in Q3

A key area of focus for Betsson this year has been the LatAm region, as it launched in both Brazil and Paraguay in 2025, while also maintaining a presence in Colombia and Peru.

It’s proving a fruitful market, too, with LatAm revenue growing 10.2% year-on-year in Q3.

Casino revenue in the region was at record levels, increasing to €56.6 million from the €46.1 million generated in the same quarter last year.

This offset a year-on-year decline in sportsbook revenue from €23.1 million to €19.8 million.

Betsson attributed the sportsbook decline to seasonally lower activity and a lower sportsbook margin, with Q3 last year featuring the European Championship and Copa America football tournaments.

LatAm revenue accounted for 26% of Betsson’s revenue in Q3 compared to 28% in Q2.

However, Betsson noted continued underlying growth in Argentina in terms of customer deposits and turnover, while Peru and Colombia’s revenue also grew year-on-year.

Betsson plans to sustainably outgrow the market

For the nine months ending 30 September, Betsson reported an 11.7% increase in group revenue to €893.1 million.

EBITDA increased 6.5% to €244.4 million, while operating income also rose by 7.2% to €199.9 million.

Looking ahead, Betsson said its long-term plan was to sustainably “outgrow the market”, highlighting growth in existing markets, expansion into new markets and development of its B2B offering as growth areas.

Betsson initiates share buyback programme

Alongside its Q3 results, Betsson also announced it will initiate a share buyback programme with a maximum purchase amount of €40 million.

The buybacks will take place on the Nasdaq Stockholm stock exchange, with the process of repurchasing class B shares in Betsson to be managed by Arctic Securities AS.

The buyback programme starts on Friday and will last until 30 April next year.