Betsson acquisitions drive 69% Western Europe market growth

Nordic online gambling operator Betsson AB enjoyed double-digit growth in Q2 2017, as its Western European operations improved by more than two-thirds.

Figures released Wednesday by the Stockholm-based Betsson showed the company’s revenue rising 26% year-on-year to just under SEK 1.12b (US $142m) in the three months ending June 30. Operating income was up 31% to SEK 207m while net income gained 27% to SEK 186m.

Betsson’s organic revenue growth was a more modest but still impressive 15% once you discount gains from the recent launch of its Spanish-facing StarCasino.es site and the acquisitions of the UK-facing NetPlay TV and race betting business RaceBets.

Those acquisitions helped boost Western European market revenue by 69% year-on-year, compared to 28% growth in Betsson’s core Nordic markets. Western Europe now accounts for 30% of Betsson’s overall revenue, with the Nordics’ share slipping to 47%. Central, Eastern Europe and Central Asia (CEECA) markets constituted 19% of the pie, although this figure shrunk 15% year-on-year.