The betting company Betsson saw its shares plummet on the stock market after issuing a profit warning, with both licensing revenues and results declining. Speculation about the risks tied to Turkey has persisted for some time, and these concerns now appear to be reflected in both the share price and the company's results. This is according to a comment from EFN's analysts on Friday.
Betsson has issued a profit warning, and the stock has not fallen this sharply in a single day since 2016. This comes despite a decline of around 30 percent from its peak last summer, even before today's profit warning.
The pre-warning decline was largely attributed to the risks associated with Betsson's revenues from Turkey through its business partner Realm. Turkey has announced a crackdown on illegal gambling in the country, and judging by today's profit warning, these actions are having an impact, EFN points out. However, there are also explanations unrelated to Turkey, including increased personnel costs.
"Nor does the start of 2026, with just one percent growth, suggest better times ahead. Betsson has gone from being a fast-growing operator where Turkish risks were waved away, to now posting weak growth while the risks in Turkey are materializing in the numbers. The valuation is low, but so too is the situation in Turkey, and growth is the weakest it has been in a very long time. The stock does not appeal, despite the plunge," EFN writes.
Betsson AB is a Sweden-based holding company that invests in and manages fast-growing companies within online gaming. The Group runs its operational business through subsidiaries that hold gaming licences in seventeen jurisdictions. Betsson’s operational subsidiaries offer casino, sportsbook and other games via gaming licences in twelve countries in Europe and Central Asia. The business model is to offer gaming under multiple brands, including Betsson, Betsafe, Nordicbet and Casinoeuro. Betsson is responsible for setting strategic direction for the Group, corporate structure and governance, acquisitions and divestments, policies and guidelines for the Group, risk management and internal audit, control and follow-up of the business operations and financial communication.
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