Online gambling operator Europebet generated GEL 169.3 million in revenue in 2025, up 1.5% year-on-year, while its net profit declined 28.8% to GEL 18.9 million, according to the company's annual financial statements. The decline was largely driven by higher gambling taxes introduced last year.
Online casino remained the company's largest business segment, generating GEL 121.3 million in revenue, up 3.8% from 2024. Revenue from online sports betting fell 4.2% to GEL 39.4 million, while P2P gaming revenue declined 15.1% to GEL 2.7 million. Other income increased 7.1% to GEL 5.9 million.
Operating performance improved during the year, with profit before profit tax and gambling taxes rising 6.4% to GEL 72.2 million. However, the increase in the online casino gross gaming revenue (GGR) tax from 15% to 20%, effective January 1, 2025, pushed the company's total gambling tax bill up 28.9% to GEL 53.4 million, outweighing operational gains.
Europebet ended 2025 with GEL 48 million in total assets and GEL 18.1 million in liabilities. During the year, the company paid €4 million in dividends to its owner, Betsson AB, which acquired Europebet in 2015 and operates across more than 20 international markets. In 2026, following the reporting period, the company distributed an additional €3 million in dividends.
