Last updated on April 30th, 2023 at 02:13 pm
Betsson posted its Q1 revenue that showed a 30 percent increase. Also, the report highlighted the company’s multiple strategic achievements for the quarter. The financial report revealed the company experienced a solid start to the year.
In the first quarter of last year, Betsson had a revenue of $187 million. The revenue improved by 30 percent to $244 million for the same quarter this year. Also, it showed an increase of 38 percent, reaffirming the firm’s strong start to 2023.
Although its revenue increased in the first quarter, the number of active clients dropped. According to bookie pay per head reports, the company’s active clients dropped by 11 percent. On the other hand, the number of active clients in the first quarter of 2022 was 1.256 million.
Betsson’s Q1 Revenue
According to the most current interim report, EBITDA reached €54.3 million ($57.8 million) in the first quarter of 2023. This result represented a 62% increase in EBITDA compared to the same period last year. Furthermore, compared to Q1 2022’s 19.6% EBITDA margin, Q1 2019’s figure stands at 24.5%.
As could be predicted, this year’s first quarter also saw a rise in operating income, or EBIT, to the tune of €43 million ($47.3 million). According to experts of sportsbook pay per head services, there was an increase of 82% in operating income from last year’s first quarter to this year’s first quarter, from €23.6 million to $26 million.
When it released its first quarter interim report, Betsson highlighted quarterly accomplishments in its strategic plan. The firm was granted a permit for operation in Cordoba, Argentina, in February. It was a big step forward for it in the country. Betsson said it plans to provide its services there before the end of the year.
According to the king of pay per head, the firm also obtained its supplier and operator licenses in Ontario’s regulated gaming industry in February. Therefore, the company’s B2C offerings were initially made available under the Betsafe name.
