A prominent online gambling firm, Betsson, concluded 2023 with impressive financial outcomes for both the final quarter and the entire year. Their earnings climbed to €251.9 million in the fourth quarter, a 14% rise compared to the corresponding period the previous year. This expansion was primarily driven by a 36% surge in inherent revenue.
Although casino earnings witnessed a remarkable 25% increase, sports wagering earnings experienced a minor decrease of 5%. This slight decline was expected, as 2022 enjoyed the fervor of the FIFA World Cup, a significant tournament absent in 2023.
Nevertheless, Betsson’s profitability flourished. Their earnings before interest, taxes, depreciation, and amortization (EBITDA) escalated by 40% to €71.9 million, and their operating income (EBIT) saw a comparable rise of 42%, reaching €57 million.
Over the twelve months, Betsson’s revenue hit €9.48 billion, signifying a 22% growth. Their EBITDA underwent a remarkable 52% leap to €2.63 billion, and EBIT ascended by 60% to €2.11 billion.
The company’s robust performance is evident in its proposed dividend increase of 48% to €0.645 per share. Betsson’s Chief Executive Officer, Pontus Lindwall, conveyed optimism regarding the company’s prospects, remarking, “I am positive about 2024.”
Betsson enjoys an advantageous position for sustained expansion and value creation due to its robust financial standing, advanced technological capabilities, commitment to exceptional client experiences, and above all, its exceptional workforce. A heartfelt appreciation to the entire staff for their dedication in 2023 and to our investors for their unwavering confidence.
Lately, Betsson received the esteemed “Socially Responsible Global Gaming Operator of the Year” accolade. Further amplifying the excitement, Betsson’s Chief Executive engaged in an interview with Huddle at the ICE London gaming convention, with the interview slated for imminent release.
Notwithstanding all the favorable developments, Betsson’s share value experienced a 7% decline this morning. The market appears to be responding with prudence to the recent financial disclosure, potentially already factoring in the strong Q4 figures. Stakeholders are probably observing how this output translates into tangible strategies for share repurchases and dividend distributions.
Regarding outcomes, Betsson announced earnings of €237.6 million for Q3 2023, subsequently increasing to €251.9 million in Q4 2023.
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