In an ambitious move to fortify its presence in the Italian market, gaming giant Betsson has launched its premier brand, offering patrons a diverse suite of online casino games, live casino experiences, and sports betting options. This introduction signifies the company’s growing investment in Italy, a country where it has been a key player for over a decade through its StarCasinò brand, which will continue its operations.
The anticipation for Betsson’s new offering in Italy is high as players prepare to enjoy a rich catalogue of slots and table games, complemented by the thrills of live casino action. Simultaneously, sports enthusiasts will have the chance to wager on various sporting events, tapping into the comprehensive sports betting services provided by the new Betsson website.
This expansion is consistent with Betsson’s strategic vision of widening its flagship operations in emerging and existing markets globally. The group’s progress in Latin America exemplifies this strategy with active licenses in both Argentina and Colombia. The company is also crafting plans to further cement its presence in the region.
Betsson’s devotion to the Italian market has intensified over time, as per Chief Commercial Officer Ronni Hartvig. “Italy has grown significantly in importance for Betsson,” he stated, emphasizing the propitious moment for unveiling the Betsson brand to the Italian audience.
The company’s holistic approach aims to take advantage of scalability while infusing decades of regional experience to assert Betsson as a premier sports betting establishment in Italy.
The impetus for this expansion arguably stems from Betsson’s stellar financial performance in the previous year. The company joyously reported record results for its 2023 fiscal year, impressive highlights being a 22% hike in revenue to €948.2 million and a 52% surge in EBITDA to €262.7 million. Operating income was also a notable success story, climbing by 60% to €210.5 million and achieving an elevated profit margin of 22.2%.
Revenue from Western Europe, with a special nod to Italy and Belgium, was up by a remarkable 61.8% to €41.7 million. It’s an indicator of Betsson’s impactful growth in these territories, fueling confidence in its Italian market expansion.
Betsson has not stopped there. The firm is casting a wider net across Europe, with new licenses acquired in several jurisdictions, including an online casino license in Serbia and an online sports betting license in France. These developments come alongside February’s news of Betsson’s strategic entrance into the Dutch market, following the acquisition of Holland Gaming Technology for €27.5m. The purchase not only brought in a gaming operator with a coveted Netherlands license but also included the game studio Holland Power Gaming.
CEO Pontus Lindwall has been vocal about Betsson’s growth trajectory, and with the Italian venture now unfolding, it underscores the company’s unyielding commitment to global expansion. Lindwall shed light on this strategy and Betsson’s future in a conversation with iGB last month.
With this latest Italian rollout, Betsson is poised to consolidate its operations and standing as a major player in the sports betting and online casino industry, striking a chord with new customers while delivering on its promise of enhanced gaming experiences and robust market growth.
