Industry News
Better Collective provides extraordinary business update due to COVID-19 situation
Following the postponement of several sports events in many countries including the UEFA EURO 2020 due to the outbreak of COVID-19, the sports betting media group, Better Collective, provides an extraordinary business update with the following highlights:
- Until mid March, Better Collective’s business has shown strong performance and has not been notably affected by postponements of sports events caused by the COVID-19 outbreak.
- In the last couple of days, major sports events have been postponed, leading to reduced sports betting activity to approximately half of normal levels. The esports and casino business have not been affected.
- The financial targets for 2020 remain unchanged until further, given certain assumptions.
- Better Collective’s business model and strong balance sheet allows for a high degree of flexibility in this changing environment.
Current business performance:
Better Collective’s business has not been notably affected by COVID-19 until mid March 2019, despite some sports events having been played without a physical audience and some events having been cancelled.
For Better Collective, February 2020 revenue ended in line with expectations with revenue of 6,9 mEUR corresponding to a growth of 27% (of which 13% was organic growth). Revenue in January and February 2020 combined amounts to 14,1 mEUR corresponding to a growth of 37% (of which 21% was organic growth). Measured on gross gaming activity in revenue share accounts, player activity in February was all time high.
Postponement of sports events
From mid March, almost all major sports events have been postponed. This includes the EURO 2020, as announced by The Union of European Football Associations (UEFA), which is postponed to 2021. In the days after the almost full halt of all major sports events globally, sports betting activity has been reduced to approximately half of normal activity, whereas activities in esports and casino remain unchanged.
Following the postponement of several major sports events, Better Collective expects that some of the revenue, which would normally materialize in the first half of 2020, will either be lost or postponed until later in 2020 or to 2021, depending on the new scheduling of events.
Based upon the current activity level, Better Collective estimates that the postponement of EURO 2020 will imply an isolated revenue postponement of 2-4 mEUR from 2020 to 2021, whereas other cancellations/postponements may have a similar negative effect, in particular in the US, where the business is mostly exposed to the major sports leagues.
Financial targets:
The financial targets for 2020 remain unchanged (double-digit organic growth and total growth of >30%, operating margin (EBITA) >40% and Net Interest Bearing Debt/ EBITDA <2,5) until further, given the following assumptions:
- Reduced revenue in 2020 from EURO 2020, postponed to 2021, is estimated at 2-4 mEUR.
- Reduced revenue in 2020 from other postponed sports events is estimated at 4-6 mEUR.
- Esports (HLTV) and casino business continue to perform at regular levels.
- The estimated effect of reduced sports betting of a total 6-10 mEUR is based on the assumption that all major sports events, other than EURO 2020, will be back to a normal activity level in the second half of 2020.
- Costs are maintained at current levels and thus lower than budgeted for the full year, offsetting some of the reduced revenue.
Better Collective will on an ongoing basis evaluate the development of the business and potentially take measures to protect the business and cash flow if revenue will be impacted significantly by postponed sports events.
Flexible business model and strong balance sheet:
Better Collective operates in an online business that allows for a high degree of flexibility as operation is highly scalable and can take place almost anywhere. This allows the company to continue operations as usual while giving priority to the health and safety of the employees. Furthermore, the historical business model has to a high degree been based upon revenue share, where the large databases of players continue to generate revenue as long as betting events take place, thereby providing recurring revenue. In past periods with low activity in the absence of major sports events, there is normally still betting activity, i.e. on lower profiled sports events, virtual games, esports, casino. Therefore it can be expected that even though major sports events are not happening, there will still be betting activity.
Better Collective has a strong balance sheet and financing position. The net cash position was almost neutral at the end of February 2020, with a net bank debt (cash minus bank debt) of minus 13,9 mEUR after including upfront payment of approximately 24 mEUR in connection with the acquisition of HLTV.org ApS (esports) at the end of February. Cash and un-utilised committed bank credit facilities stood at 70 mEUR end of February 2020.
Jesper Søgaard, CEO of Better Collective, says:
“The COVID-19 has in many instances created an unprecedented situation for societies across the world. Just as many other companies, Better Collective will expectedly also be affected by the COVID-19, especially following the postponement of major sports events such as the EURO 2020. Nothing is more important than the health and safety of people and we look forward to the return of the sports we all enjoy, including a safe and exciting EURO 2021. Though visibility is currently limited, we stay optimistic that normal sports betting activity levels will be restored why our guidance remains unchanged.”
About Better Collective:
Better Collective’s vision is to empower iGamers through transparency and technology – this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes a range of websites and products, among other bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory. Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO).
Balkans
EGT Digital Wins “Online Platform of the Year” for the Second Consecutive Year at the Golden Spade’s Awards 2025
Reading Time: 2 minutes
EGT Digital celebrated a remarkable achievement at this year’s Golden Spade’s Awards, securing the prestigious title “Online Platform of the Year” for its modular platform X-Nave for the second year in a row. The award was accepted by Georgi Mihaylov, Deputy CEO of EGT Digital, marking another milestone in the company’s continued progress and commitment to technological excellence.
In 2025, X-Nave distinguished itself through the integration of EGT Digital’s proprietary in-house AI core, developed entirely by the company’s data science team. This innovation transformed X-Nave into a holistic, intelligent ecosystem with capabilities such as real-time player protection, predictive churn prevention, intelligent campaigns, personalized game recommendations, automated bonus optimization, and enhanced QA through simulated behavior. Combined with its modular structure – comprising the CRM Engine, Gaming Aggregator, Sport Product, and Payment Gateway – X-Nave continues to serve as one of the most advanced and reliable platforms in the industry.
Accepting the award, Georgi Mihaylov expressed his gratitude: “These awards are an exceptional recognition of our work. On behalf of the EGT Digital team, a huge thank you, and I can’t wait for us to come back again next year.”
Special Recognition for Industry Leadership
The Golden Spade’s Awards also honored Mr. Vladimir Dokov, CEO of both EGT Digital and EGT, with the distinguished title “Outstanding Contribution to the Development of the Gaming Industry.” This accolade recognizes his long-term leadership, strategic vision, and significant impact on the growth and evolution of both the Bulgarian and global gaming sectors.
Mr. Dokov accepted the award with a message dedicated to his team:
“What we have achieved is not thanks to me, but thanks to our team of 4,300 people and this award belongs to them.”
A Milestone Year for the EGT Group
These recognitions highlight an exceptional year for both EGT Digital and EGT, reflecting their shared commitment to innovation, responsibility, and delivering impactful solutions for partners and players worldwide.
The post EGT Digital Wins “Online Platform of the Year” for the Second Consecutive Year at the Golden Spade’s Awards 2025 appeared first on European Gaming Industry News.
Carmen Alexander
Entain’s Pitching In Initiative Crowned Grassroots Sports Initiative of the Year
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Entain’s Pitching In initiative has beaten off fierce competition to be named Grassroots Initiative of the Year at the Global Football Industry Awards. Launched by Entain in 2020, the trailblazing initiative has made a huge impact at the non-league level of England’s national game.
Pitching In is the title sponsor of the Isthmian, Northern Premier and Southern Leagues – collectively known as the Trident Leagues – that comprise 264 clubs at Steps three and four of the non-league pyramid.
Pitching In, however, has always been about more than a flagship sponsorship. At the heart of the initiative is the ambition to enhance engagement between football clubs and their local communities. This led to Entain being the founding partner of the Trident Community Fund (TCF).
The TCF was launched to help clubs establish and expand community initiatives, maximising the remarkable impact that grassroots football clubs have on their local area. Every club in the Trident Leagues is encouraged to apply for a grant of up to £5000 annually to support community initiatives. The TCF has now supported more than 150 such projects, helping to expand youth, women’s and walking football, as well as supporting initiatives focusing on local upskilling, tackling anti-social behaviour and supporting local veterans and food banks.
In 2022, Pitching In launched the Volunteer Hub to provide a one-stop online portal for clubs to post volunteering vacancies and for local people to sign up and get involved.
Pitching In’s contribution to the grassroots game has now been recognised at the Global Football Industry Awards, a landmark global ceremony which brings together industry giants and trailblazers from every corner of the football ecosystem.
Pitching In was up against the likes of McDonalds, Barclays, Adidas, Nike and Coca-Cola, who were among the other shortlisted nominees for the Grassroots Initiative of the Year prize. Hosted by football royalty – Jamie Carragher and Peter Crouch – the awards celebrate the visionaries, pioneers and change-makers powering world football from behind the scenes.
Stella David, CEO of Entain, said: “We are delighted to see Pitching In recognised in this manner. Football is central to our business, which is why we feel it is so important to invest in the sport at the grassroots level, playing our part in bringing clubs and their communities closer together.
“When we started this project back in 2020, non-league clubs – and English football more generally – were staring into an uncertain future amid the Covid-19 pandemic.
“The grants Pitching In provided at that time proved crucial and we have continued to grow our relationship with the more than 260 clubs, who are the backbone of the English game, over the time since. We love supporting grassroots football and are excited by how this partnership can grow and evolve further.
“We would like to thank the Northern Premier League, Isthmian League and Southern League for their continued support, along with every single volunteer who gives up their time for their local football club. The game at this level could not run without you and Pitching In will continue to do what we can to highlight your invaluable contributions.”
Carmen Alexander from the Global Football Industry Awards added: “Congratulations to Entain and all 2025 Global Football Industry Award winners.
“Our judges were impressed by the commitment Entain has shown to grassroots football over a prolonged period of time and particularly the Trident Community Fund, which continues to make a tangible difference to non-league clubs across the country. Entain is very worthy of this recognition.”
The post Entain’s Pitching In Initiative Crowned Grassroots Sports Initiative of the Year appeared first on European Gaming Industry News.
Industry News
Sky Bet Relocates Headquarters to Malta
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Sky Bet has relocated its headquarters to Malta, a move that could cut its UK tax bill by tens of millions of pounds a year. The change will mean less money for the government at a time when the public finances are under strain.
The chancellor needs to increase tax revenues and is under pressure to levy higher duties on the betting industry – something the industry is aggressively campaigning against. Sky Bet, which describes itself as “the UK’s No. 1 betting app,” has moved its sportsbetting business to the Maltese branch of a new UK company, SBG Sports Limited.
Flutter Entertainment PLC, Sky Bet’s parent company, first told staff about the move in June, alongside a plan to make around 250 people in the UK redundant. At a meeting which was live-streamed across Flutter’s “UK and Ireland” business, workers in Leeds, Sunderland, London, Dublin, Gibraltar, Porto and Cluj were told the relocation of Sky Bet to Malta was driven by a “need to operate more efficiently” and to reduce costs.
Steve Birch, chief commercial officer of Sky Betting and Gaming, said that from November 1, “day-to-day commercial and marketing decision making will take place in Malta,” although Sky Bet’s Leeds office would continue to be one of Flutter’s largest.
The post Sky Bet Relocates Headquarters to Malta appeared first on European Gaming Industry News.
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