Betsson posts record Q3 revenue of $365.7 million but taxes weigh on profits

Betsson AB reported a 23% decline in third-quarter EBITDA despite record revenue , as higher gaming taxes, reduced B2B licensing income, and rising operating expenses weighed on profitability. EBITDA fell to €63.4 million ($71 million) from €82.5 million, narrowing the margin from 27.9% to 19.4% . Operating income declined 31% to €46.1 million ($51.6 million), while gross profit dropped 5% to €181.1 million ($202.8 million). The earnings pressure coincided with a shift toward locally regulated markets, which accounted for 77.7% of revenue, compared with 63.8% a year earlier.