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The increased profits are attributed to several factors, including significant revenue growth in central and eastern Europe (CEE), central Asia, and increased earnings from their business-to-business (B2B) operations, particularly in the resurgent Turkish market.
In Q2, B2B revenue, which includes Betsson’s partnership with Turkish-facing Realm based in Malta, accounted for approximately 27% of the expected revenues, ranging from €235.5 million to €237.5 million. This is a notable increase compared to 17% in the same period last year.
Furthermore, revenues from the CEE region and central Asia represented 43% of the total revenues or approximately €102 million. This is a significant rise from the 33% share seen in Q2 of the previous year.
However, revenues from Norway, where Betsson has faced regulatory pressure due to perceived illegal operations, decreased to 22% of total revenues compared to 27% in Q2 of the previous year.
Betsson’s predicted revenues for the quarter indicate a year-over-year increase of around 27%, while the estimated earnings before interest and taxes (EBIT) of €53.5 million to €55 million would mark an 88% increase. The company attributes its record profits to its scalable business model, which has contributed to its success.
BetMGM has significantly reduced its promotional spendBetMGM has significantly reduced its promotional spend. In May, during a period of relatively low sports-betting activity, BetMGM decreased its bonuses and promotional spend […]
