Nordic online gambling operator Betsson AB closed out 2020 with a solid showing in the final quarter, resulting in a more than one-quarter rise in annual profit. 

Figures released Tuesday show the Stockholm-listed Betsson generated revenue of SEK1.76b (US$211m) in the three months ending December 31, 37% higher than in Q4 2019. Earnings jumped 40% to SEK410.5m and net income rose 36% to SEK277.8m. 

Online casino remained Betsson’s bread and butter in Q4, as gaming revenue rose one-third to SEK1.28b, although sports betting revenue spiked 47% to SEK459m as a half-point rise in betting margins added fuel to a 23% rise in turnover. 

On a geographic basis, all four regional segments reported solid growth in Q4, with the biggest percentage gain coming from the ‘Rest of World’, which nearly tripled to SEK215.6m. The gains reflect Betsson’s 2019 acquisition of Brazilian race betting operator Suaposta and a 70% stake in Colombia-licensed Colbet, as well as the December launch of its Betsafe brand in Kenya. The RoW gains doubled the segment’s share of Betsson’s overall Q4 revenue to 12%.