October 2026
Largest Online Betting Public Companies in Sweden
Benchmark revenue and EBITDA valuation multiples for public comps like
Evolution, Betsson, Byhmgard, Acroud and Gaming Corps.
 | Evolution AB develops, produces, markets, and licenses fully integrated live casino and slots solutions to gaming operators. In live casino, a game presenter (dealer) runs the game from a casino table, which is followed in real time via a video stream, while players place bets on devices such as computers, smartphones, and tablets. Its games include Live Casino, Slots, Game Shows, First Person, Live Blackjack, Live Roulette, Live Baccarat, Super Sic Bo & Dragon Tiger, Live Poker, and Land-Based games. The Company innovates, develops, and produces online casino content on a B2B basis and generates maximum revenue from Europe, followed by North America and other regions. | $80 | +19% | $15B | $13B | 5.8x | 8.6x | ||
| Betsson AB is a holding company that invests in and manages companies operating in the online gaming industry. The products consist of casino, which generates maximum revenue, sportsbook, and other products. The main category of the casino is slots, or virtual slot machines, followed by the live casino, which provides the player with a virtual, real-life-like casino experience with table games broadcast live from the game provider's studio. Company's brands include either the entire product portfolio, such as Betsson, Betsafe, and Nordicbet, or just one product, such as Racebets (betting on horses) and Jalla Casino (casino). The brands' services are offered through the proprietary platform that manages payments, customer information, accounts, transactions and a range of games on offer. | $9 | -41% | $1.3B | $1.1B | 0.8x | 3.3x | ||
| Byhmgard AB develops, builds and invests in large-scale energy storage (BESS) projects in Europe. The business includes project development, EPC, software optimization and long-term operation. It aims to deliver critical energy solutions that enable Europe's green transition and strengthen the future energy infrastructure. The business model combines one-off revenues from EPC with recurring cash flows from energy management, operations, and support. Its operations span high-growth European markets including Sweden, Finland, Italy, Poland, and the Baltic states. | $0 | -23% | $17M | $16M | 6.9x | (5.4x) | ||
| Acroud AB operates comparison sites mainly within iGaming affiliation to help its partners by directing users to gaming operators. The company generates revenue through internal group services in IT, marketing, financial services, and management. Its operating business segments consist of iGaming affiliation and B2B SaaS Solutions. The iGaming Affiliation Segment that generates maximum revenue includes traditional business areas such as Poker, Sports Betting, and Casino. The SaaS segment provides business solution enabling clients to analyse and monetise their traffic sources. | $0 | -38% | $12M | $23M | 0.4x | 17.8x | ||
| Gaming Corps AB is a digital game developer focusing on traditional and non-traditional premium games for online casinos. The business is focused on several areas, in addition to an established global distribution network of casinos, the company also develops Casino Slots, Table Games, Multiplier Games, Mine Games, Plinko Games and the game series Smash4Cash. | $0 | -35% | $11M | $12M | 2.4x | (3.4x) | ||
| Mediacle Group AB is a Sweden based company. It's business divisions are Digital Marketing, Software, Lead Generation, Design and Development, and B2C Brands. It owns and operates a number of B2C portals in the iGaming and E-commerce industry like iElektronic, Pantaluren, Pantadatorn, Mobilpengar, and JackpotMobileCasino. | $1 | -27% | $7M | - | - | - | ||
| Blick Global Group AB through its subsidiaries invests in internet-based games and online casinos. | $0 | -16% | $981K | $322K | - | 0.2x | ||
| Median | $0 | -27% | $12M | $19M | 2.4x | 1.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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