Betsson records revenue growth but sees profits slide in first half of 2026

Swedish gambling operator Betsson posted record-high revenue in the second quarter of 2026, yet its profitability took a significant hit as operating costs weighed on earnings. The group reported total revenue of €595.5m for the first half of the year, a 5% increase year-on-year, while Q2 revenue reached €310.2m, up 6% from the same period in 2025.

Despite the top-line growth, EBITDA fell sharply — dropping 33% to €108.4m in H1 and 31% to €58.5m in Q2. Operating income also declined, falling 43% to €76.2m for the half and 39% to €42.2m in the quarter. CEO Pontus Lindwall attributed the pressure partly to lower B2B revenue, which “remained at a lower level than previous year” and “weighed on the quarter’s profitability.”

Lindwall struck an optimistic tone, telling analysts the group is “marching forward” with a renewed focus on cost efficiency. He did not rule out marketing cuts, a move seen across major betting markets where higher taxes — such as those in the Netherlands, where Betsson is exposed — are squeezing margins.

The FIFA World Cup, which kicked off in June, provided a notable tailwind. “The second quarter was characterised by continued healthy growth in our B2C business, positively impacted by the FIFA World Cup,” Lindwall said. The tournament helped drive a 32% surge in Latin American revenue to record levels, led by Peru and Argentina. “Peru and Argentina were the region’s brightest stars, thanks to earlier product investments, strong brands and well-targeted marketing activities linked to the World Cup,” he added.

Regionally, casino revenue outperformed sportsbook, rising 2% versus 1%. Italy emerged as a standout market, with CFO Martin Öhman noting “all time high revenue in Italy” driven mainly by casino. Lindwall said Western European growth was fuelled by Italy, where the firm leverages its sponsorship of Inter Milan. The Baltics, Georgia, Croatia and France also contributed positively.

Looking ahead, Betsson sees the World Cup providing “a solid start to the third quarter.” Analysts are watching whether the company will enter the predictions market, a growing area in the US but less clear-cut in Europe. “In our markets, if it was to be allowed it would fall under gaming regulations and then it is not much different from sports betting,” Lindwall explained, adding that the firm is monitoring user experience closely.