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Swedish online gambling operator offering sports betting and casino games under multiple brands across Europe and Latin America.
Swedish online gambling operator offering sports betting and casino games under multiple brands across Europe and Latin America.
Earns the margin between stakes and winnings paid out, called gross gaming revenue, mostly from casino games where the house edge is steady and less from sports betting where results vary. It operates under licences market by market and has shifted toward regulated markets, with Latin America and the Nordics key regions.
In one line: A smaller, European Flutter Entertainment/DraftKings.
Moat: narrow (brand, scale, regulatory licence). Multi-market licences and multi-brand strategy help, but online gambling is highly competitive with low switching costs.
Headquarters: Valletta, Malta / Stockholm-listed · Founded: 1963 · Employees: 2,709
Size Betsson (BETS-B.ST) is a Sweden Consumer Discretionary company (Casinos/Gaming) with a market value of $1.34B, the 116th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 97.75 on 6 Nov 2026.
Performance Over six months the shares gained 10.3%, against -11.8% for the median peer and +8.2% for the Sweden market (cap-weighted) — 4th highest of 17 in its peer set.
Growth Revenue fell 0.5% over the last twelve months (peer median +6.4%); the operating margin is 14.2% (peer median 13.0%).
Valuation It trades at 10.4× forward earnings against a peer median of 11.0× (6th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about -18% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -34 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 12.5 points above its cost of capital (5.0% WACC).
Credit Betsson has 1 bond outstanding ($111M).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 13.4B | SEK 13.2B | SEK 12.7B | SEK 10.9B | SEK 8.27B |
| Revenue growth | — | +5% | +16% | +32% | — |
| Gross profit | SEK 3.98B | SEK 4.73B | SEK 4.83B | SEK 2.46B | SEK 1.42B |
| EBITDA | SEK 2.27B | SEK 3.14B | SEK 3.30B | SEK 3.06B | SEK 1.85B |
| Net income | SEK 1.23B | SEK 1.96B | SEK 2.07B | SEK 2.03B | SEK 1.27B |
| Free cash flow | SEK 2.02B | SEK 2.34B | SEK 3.09B | SEK 2.61B | SEK 1.85B |
| Capital expenditure | SEK 118M | SEK 715M | SEK 572M | SEK 475M | SEK 378M |
| Total debt | SEK 2.29B | SEK 2.04B | SEK 2.13B | SEK 2.05B | SEK 1.28B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Betsson BETS-B.ST | $1.34B | +10% | 0% | 14% | 10.4× | -18.0% |
| Entain ENT.L | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% |
| Flutter Entertainment FLUT | $14.2B | -19% | +12% | 2% | 14.3× | 26.3% |
| Evolution EVO.ST | $15.8B | +33% | -3% | 57% | 14.4× | -0.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BETS-B.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.3% | -0.1% | 8th highest of 17 |
| 6-month return | +10.3% | -11.8% | 4th highest of 17 |
| Distance from 52-week high | -34.2% | -36.8% | 8th highest of 17 |
| Revenue growth (TTM) | -0.5% | +6.4% | 3rd lowest of 17 |
| Operating margin | 14.2% | 13.0% | 9th highest of 17 |
| Forward P/E | 10.4× | 11.0× | 6th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | -18.0% | -2.6% | least demanding of 9 |
| Growth delivered (Del g) | +15.7% | +20.4% | 5th highest of 9 |
| Hurdle (Req g minus delivered) | -33.7 pp | -18.7 pp | 2nd least demanding of 9 |
| ROIC minus cost of capital | +12.5 pp | +3.1 pp | 5th highest of 17 |
| EV / EBITDA | 5.3× | 6.7× | 3rd cheapest of 15 |
| Net debt / EBITDA | -0.4× | 3.0× | 5th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Betsson BETS-B.ST | Sweden | $1.34B | +10% | 0% | 14% | 10.4× | -18.0% | +15.7% |
| Brightstar Lottery BRSL | United States | $1.82B | -24% | +1% | 25% | 15.2× | n/a | n/a |
| Tokyotokeiba 9672.T | Japan | $868M | -11% | +3% | 37% | 11.7× | -10.8% | +7.7% |
| Kangwonland 035250.KS | South Korea | $2.13B | -16% | +2% | 15% | 11.0× | n/a | n/a |
| PENN Entertainment PENN | United States | $2.34B | +4% | +6% | 6% | 12.3× | 15.2% | +14.2% |
| GENDA 9166.T | Japan | $754M | +20% | +47% | 3% | 16.4× | n/a | n/a |
| Star Entertainment SGR.AX | Australia | $724M | +48% | -9% | -30% | n/a | n/a | n/a |
| Melco International Development 0200.HK | Hong Kong | $695M | -42% | +7% | 21% | 5.9× | -4.9% | +26.6% |
| Rush Street Interactive RSI | United States | $2.83B | -56% | +39% | 11% | 16.9× | 13.5% | +32.4% |
| Bally's BALY | United States | $625M | -4% | +20% | 0% | n/a | n/a | n/a |
| Paradise 034230.KS | South Korea | $620M | -39% | +8% | 11% | 11.5× | n/a | n/a |
| Wynn Macau 1128.HK | Hong Kong | $2.99B | -24% | +9% | 29% | 8.7× | -2.4% | +31.1% |
| Entain ENT.L | United Kingdom | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% | +8.1% |
| FDJ United FDJU.PA | France | $4.49B | -5% | +3% | 15% | 10.6× | -2.8% | +13.9% |
| Grand Korea Leisure 114090.KS | South Korea | $373M | -32% | +8% | 11% | 9.3× | n/a | n/a |
| MGM China 2282.HK | Hong Kong | $4.85B | -12% | +11% | 31% | 9.3× | -3.1% | +48.5% |
| Mars 6419.T | Japan | $346M | +16% | -10% | 25% | n/a | n/a | n/a |
Betsson has 1 bond outstanding with $111M face value.