One client departure erased 40% of B2B revenue and halved EBIT margins. Selling on features alone leaves the next renewal entirely in the client’s hands. Betsson Q1 2026: group revenue €285.3M (−3% YoY); B2B revenue −43% on the departure of one major platform client. EBITDA fell from €77.7M to €50M (−36%); EBIT margin collapsed from 21.9% to 11.9% in a single quarter. B2C revenue hit a record high (+15% YoY) in the same period, and LatAm revenue grew 25% to become ∼33% of the group. The company is acquiring Rhino Entertainment Group, a signal of strategic pivot from B2B platform licensing toward B2C control.
