Betsson has reported a 24% year-on-year increase in revenue for full-year 2020, driven by a significant rise in Q4.
Group revenue for 2020 was up to SEK 6.39bn ($764.7m) which also represented an organic increase of 20%. Net income for the year came in at SEK 990.8m, with operating income increasing 30% up to SEK 1.13bn.
Gross profit for the operator was up 20% to SEK 4.1bn, while EBITDA increased by 21% to SEK 1.48bn.
In terms of Q4, revenue was up 37% to SEK 1.76bn, while gross profit increased by 33% up to SEK 1.11bn. EBITDA for the period rose 40% compared to the same period last year, to SEK 410.5m, with net income improving by 36%, to SEK 277.8m.
The operator attributed its Q4 improvements to the continued boom of online gaming, and a higher sportsbook margin with the sporting calendar back to a packed schedule for the quarter.
The group also touched upon several acquisitions it made, including obtaining a licence in Argentina, Colorado in the US and launching its Betsafe brand in Kenya, during Q4.
