Oh, Betsson, darling, what have you done? The Swedish gambling giant’s shares took a nosedive on Wednesday, plunging 20% faster than Bridget Jones’s self-esteem after a bad date. Turns out, their first-quarter profits did a faceplant, dropping 47% thanks to a B2B revenue slide that’s more dramatic than Mark Darcy’s mood swings.
The numbers? Grim. Revenue for Q1 2026 came in at €285 million, down 3% from last year. Operating income? A measly €34 million, compared to €64 million in 2025. That’s the kind of decline that makes you want to hide under your duvet with a bottle of Chardonnay.
Key Takeaways (because who doesn’t love a good list?):
- EBIT collapsed 47% to €34M – ouch, that’s gotta hurt!
- Shares plunged over 20% intraday, closing at SEK 90.10 – worse than a bad hair day.
- Latin America grew 24% to €93M, while CEECA fell 21% to €96M – it’s like one’s thriving and the other’s stuck in a rom-com gone wrong.
B2B Segment: The Mystery Customer Strikes Again!
The real drama? Betsson’s B2B licensing revenue fell 43% to €51 million. That’s right, from 31% to 18% of total revenue in one quarter. Who’s to blame? A mystery customer, of course! Industry whispers point to Realm Entertainment, operating in Turkey’s unregulated market. Sounds like someone’s been playing fast and loose with the rules, and now Betsson’s paying the price.
CEO Pontus Lindwall (yes, that’s his real name) admitted the customer’s activity has stabilized, but let’s be honest, it’s like saying your ex has stopped texting at 2 AM – the damage is already done. Plus, unprofitable markets are costing them €10-15 million per quarter. Yikes.
Betsson’s shares closed at SEK 90.10 on April 9, down 14.4%. That’s after a 20% intraday drop – more volatile than my love life. Remember January’s 21% plunge? DNB Carnegie slashed their price target from 190 to 120 kronor. Ouch.
Regional performance? A mixed bag. CEECA fell 21% to €96 million, the Nordics dropped 18% to €31 million, but Latin America grew 24% to €93 million. It’s like one’s dancing the samba while the other’s stuck in a Swedish winter.
Casino revenue dipped, sportsbook held flat, and gross margin fell to 57.6% from 64%. Tax costs rose to €53 million. The silver lining? 73% of revenue now comes from regulated markets, up from 59%. Strategic pivot or damage control? You decide.
Oh, and let’s not forget Betsson’s fancy sponsorship deal with Inter Milan, reportedly €30 million per season. Because nothing says “we’re doing fine” like splashing cash on football shirts while your shares are in freefall.
Average daily revenue in Q2 is up 9% from 2025, but let’s not get our hopes up. The full Q1 report drops on April 24. Until then, grab your popcorn and watch the drama unfold. It’s better than any soap opera!
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2026-04-10 21:58