Betsson Focused on Latin American Growth, Excludes UK from Investment Strategy

(AsiaGameHub) –   Betsson is opting to avoid several major Western European gambling hubs due to recent regulatory shifts and operational hurdles, according to CEO Pontus Lindwall.

During a recent appearance on the iGaming Daily podcast, Lindwall discussed the company’s first-quarter financial results. Total group revenue for the period fell 3% year-on-year to €285.3m, compared to €294m in Q1 2025.

B2B earnings saw a sharp decline to €51m from €90m in the prior year’s quarter, while B2C revenue grew by 15%.

Despite the overall dip, Betsson saw double-digit year-on-year growth in both Western Europe (€61.3m) and Latin America (€93m), maintaining momentum in those regions despite broader challenges.

Lindwall remarked: “The Latin American market is somewhat behind Europe in its development cycle. This means online gaming hasn’t fully penetrated the region yet, leading us to believe there is significant structural growth potential in many of these markets moving forward.”

“We hold strong positions in several of these territories. We are clearly the leader in Argentina and well-placed elsewhere, supported by established brand recognition and proven technology. We remain very positive about our future in the region,” he added.

Latin American revenue rose 24.7% year-on-year to €93m (up from €74.5m in Q1 2025), with gains in Colombia and Peru, while performance in Argentina remained stable compared to the previous year.

In Western Europe, revenue increased by 10.3% to €61.3m (up from €55.6m in Q1 2025). Italy hit record revenue levels and France showed growth, though Belgium experienced a decline. These results come even as Betsson remains absent from the UK and Germany, two of the region’s largest markets.

Betsson maintains distance from the UK

Lindwall noted that the regulatory path taken by some European nations has made them unviable for the company’s operations.

“Western Europe as a whole is an unfortunate situation in many respects. We’ve seen regulatory shifts that actually work against the goals of creating a properly regulated and taxable gaming sector,” he explained.

“As a major player, Betsson is largely staying out of several of Europe’s biggest markets, including the UK and Germany. While these are powerful nations with deep gaming traditions and strong economies, we do not view them as investible for our company, so we are leaving those opportunities to others.

“The environment in Italy and certain other markets is different, offering a better climate for investment and growth. However, much of Europe is now highly saturated, which isn’t the case everywhere else,” he continued.

In other regions, Nordic revenue fell 16.9% to €31.4m (from €37.8m in Q1 2025), while Central & Eastern Europe and Central Asia (CEECA) dropped 21.8% to €95.7m (from €122.3m). Revenue from the rest of the world reached €3.9m.

Betsson’s Q1 casino earnings decreased 4% to €203.8m, while sportsbook revenue saw a slight uptick to €80.2m.

The company’s EBITDA fell 36% to €50m, with margins narrowing to 17.5%. EBIT dropped 47% to €34m, and net income also declined by 47% to €25.5m.

During the podcast, Lindwall also touched on Betsson’s Canadian strategy following the acquisition of Rhino Entertainment and discussed the company’s preparations for the upcoming FIFA World Cup.

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