Peru, Argentina drive Betsson’s LATAM revenue to record levels

Betsson has posted record-breaking LATAM (Latin America) revenue for the second quarter of 2025, driven largely by strong performances in Peru and Argentina, which fuelled a 35 per cent increase in revenue for the region.

The iGaming company’s performance led the Group’s total revenue to rise to €303.7 million.

The information was published in the group’s interim report January to June 2025.

The iGaming group, with major operations in Malta, said the positive result was mainly due to high customer activity, with record levels of deposits and casino play.

The sportsbook product, a business-to-business (B2B) solutions provider, also performed well, with a higher profit margin and more revenue than both last year and the previous quarter.

Argentina saw strong growth, with more deposits, higher casino and sportsbook activity and record revenue, while Peru also grew compared to both last year and the previous quarter, mainly thanks to the sportsbook.

EBITDA for the period stood at €84.1 million, an eight per cent increase when compared to the same period of the previous year. Operating cash flow came in at €41.5 million, down from €75.8 million in Q2 2024.

The cost of services for the quarter was €109.8 million, up from €94.7 million last year. This increase is mainly due to higher gaming taxes, which rose because more of Betsson’s revenue came from locally regulated markets. Operating expenses also rose to €193.9 million, up from €112.7 million in Q2 2024.

Meanwhile, Betsson’s net debt reached -€151.8 million, compared to -€93.1 million last year. The number of active customers remained steady at 1.4 million.

As part of its marketing strategy, Betsson also launched its main global brand in Georgia and Lithuania during Q2, allowing the brand to be internationally promoted through big sponsorship deals.

In Georgia, Betsson marked its 10-year presence in the country with a major event in the capital, Tbilisi, where top Georgian football legends played an exhibition match against former Barcelona stars – including Ronaldinho – during which the Betsson brand was officially launched.