Betsson Q2 Revenue Hits Record as Profit Falls on Taxes and B2B Drop
Betsson Reports Record Q2 Revenue of EUR 310.2 Million – Higher Gaming Taxes and B2B Weakness Reduce Profit
Key Takeaways
- Betsson recorded Q2 2026 revenue of EUR 310.2 million, up 2.1 percent year on year and 6.1 percent organically.
- Operating income fell 38.9 percent to EUR 42.2 million, while net income declined 38.2 percent to EUR 30.4 million.
- Regulated markets accounted for 75.5 percent of revenue, up from 65.7 percent a year earlier.
- Latin America became Betsson’s largest region with EUR 112.1 million in revenue, supported by World Cup activity.
- B2B licence revenue dropped to EUR 49.1 million from EUR 75.6 million due to lower activity from one major customer.
Revenue Reaches New High While Profitability Declines
Betsson reported record quarterly revenue for the three months ended June 30, 2026. Group revenue increased to EUR 310.2 million, equivalent to USD 361.9 million, representing a 2.1 percent rise compared with the same period last year. Organic revenue growth reached 6.1 percent.
Despite the revenue increase, profitability declined sharply. Operating income fell by 38.9 percent to EUR 42.2 million. EBITDA decreased by 30.5 percent to EUR 58.5 million, and net income dropped 38.2 percent to EUR 30.4 million.
According to Chief Executive Officer Pontus Lindwall, the lower profitability was primarily linked to the company’s growing exposure to regulated markets. A higher share of revenue from locally regulated jurisdictions resulted in increased gaming taxes and higher payment provider fees, which raised overall costs compared with the previous year.
During the quarter, 75.5 percent of Betsson’s total revenue came from regulated markets. In the same period last year, that share was 65.7 percent. The shift illustrates how regulatory compliance and taxation directly influence margin development, even when top line revenue grows.
B2B Revenue Declines Due to Lower Customer Activity
Betsson’s business to business segment recorded a notable decline. B2B licence revenue fell to EUR 49.1 million, down from EUR 75.6 million in the second quarter of 2025. The decrease was mainly attributed to lower activity from one major customer.
The drop in B2B income contributed to the overall reduction in operating income and EBITDA. For readers evaluating platform providers or white label solutions, this development highlights how concentrated customer relationships can affect quarterly financial performance.
Latin America Becomes Largest Region After 32.3 Percent Growth
Latin America emerged as Betsson’s largest regional market in the second quarter. Revenue from the region rose 32.3 percent to a record EUR 112.1 million, accounting for 36 percent of total group revenue. The region overtook Central and Eastern Europe and Central Asia in revenue contribution.
Argentina, Peru and Colombia each delivered record quarterly revenue. According to the company, marketing initiatives and increased betting activity linked to the FIFA World Cup supported both new customer acquisition and engagement among existing users.
Betsson also secured a sportsbook licence in Argentina’s Santa Fe province during the quarter. The company plans to launch operations there in the fourth quarter, expanding its footprint in one of its fastest growing markets.
Looking at early third quarter trading, average daily revenue between July 1 and July 13 was 13.7 percent higher than the average for the third quarter of 2025. The company attributed this start to continued World Cup related betting activity.
Regional Performance Shows Diverging Trends
Western Europe posted record revenue of EUR 64.2 million, with Italy identified as a key contributor. In contrast, revenue from the Nordic region declined by 17.1 percent. Betsson reduced marketing spending in Sweden and Denmark amid intense competition, which affected revenue levels.
These regional differences illustrate how marketing intensity and competitive pressure can shape short term revenue trends, even within regulated European markets.
Casino Remains Core Segment as Sportsbook Upgrades Support Traffic
Casino operations continued to represent the majority of Betsson’s business. Casino revenue reached EUR 217.6 million, accounting for 70 percent of total group revenue.
Sportsbook revenue remained broadly unchanged at EUR 91.3 million. Ahead of the FIFA World Cup, Betsson upgraded its sportsbook platform and expanded capacity to manage up to five times normal traffic levels. The company also introduced new betting features such as Goal Rush, which applies multipliers based on the number of goals scored, and Super Sub, which allows a bet to transfer to a substitute player if the original selection is replaced during a match.
Management stated that the sportsbook performed as expected from a technical perspective during peak activity. User experience enhancements were implemented to make betting options easier to access during the tournament period.
New Credit Facility Supports Acquisition Strategy
During the quarter, Betsson announced a new EUR 75 million credit facility. The company stated that the facility will support future acquisitions. Management indicated that it sees greater long term growth opportunities in Latin America than in Western Europe.
Our Assessment
Betsson’s second quarter results show that revenue reached a new high while profit declined due to higher gaming taxes, increased payment related costs and weaker B2B licence revenue. The company’s revenue mix shifted further toward regulated markets, which now account for more than three quarters of total income. Latin America became the largest regional contributor, supported by World Cup driven betting activity and new licensing progress in Argentina. At the same time, casino remains the dominant product segment, and sportsbook operations were technically expanded to handle major event traffic. The figures illustrate how regional growth, regulatory exposure and customer concentration in B2B activities directly affect financial outcomes for international iGaming operators.
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