Betsson Reports Record Revenue Growth of 18% in 2022

The listed gaming group Betsson AB published its annual report for the past year just over two weeks ago. The management proudly reported an increase in sales of an impressive eight percent. But in which business areas did things go best for the Scandinavian gaming company and what is the situation on other markets?

The Sweden-based gaming group generated total sales of over 777 million euros in 2022. Compared to 2021, this corresponds to a percentage increase in sales of around eight percent. Betsson is building on past successes. Because already in November 2021 we reported that higher sales could be generated in the third quarter of 2021.

Betsson reports ‘best year ever’

The listed gaming group Betsson AB already published its annual report for the year 2022 on Valentine’s Day. There is every reason to be happy: The company was able to increase its total turnover by almost a fifth within a year. More specifically, Betsson saw an 18% increase in revenue in 2022. The group, which employs more than 1,800 people worldwide, generated impressive sales equivalent to 777.2 million euros.

The official press release can be accessed here. According to the year-end report, Betsson has had its “best year ever”. And that in times when other companies are struggling with various crises.

Betsson AB is a publicly traded gaming group headquartered in Sweden. The company’s brands include not only Betsson, but also Betsafe, Nordicbet and Kroon Casino. Betsson currently employs around 1,800 people.

Why did sales develop so well?

The football World Cup, which took place in Qatar last winter, is particularly worth mentioning. In an article published in December, we asked ourselves whether the World Cup would bring the bookies a 13th month’s salary. In fact, Betsson’s sports betting revenue grew an impressive 76% in the fourth quarter. In the casino area, too, sales increased by more than a quarter (27%) in the same period.

In the past few weeks and months, Betsson has also opened up many new markets for itself. It was only in February of this year that the listed company received an official gaming license for the province of Cordoba in Argentina. In addition, Betsson launched its mobile sports betting offering in the US state of Colorado in March of last year and has meanwhile expanded it noticeably. Another article in April 2022 was about the fact that the online gambling market should grow noticeably overall by 2030. Of course, Betsson would also continue to benefit from this development.

For the time being, Betsson is no longer represented on the German online gambling market. The website states that “Sorry, due to gambling laws, the website is not available in your country”. To achieve such a significant growth in sales despite the withdrawal from the German gaming market is definitely impressive and shows that the German market is not really relevant for a global gaming group.

Conclusion

The past year went very well for the Sweden-based gaming group. More precisely, Betsson AB had the best year in the company’s history. The forecasts for 2023 are basically optimistic, with Betsson pointing out, among other things, that the geopolitical situation and the macroeconomic situation remain uncertain for the time being.