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Better Collective Interim report January 1 – December 31, 2020

Highlights fourth quarter 2020
- Q4 Revenue increased by 88% to 36,714 tEUR (Q4 2019: 19,579 tEUR). Organic growth was 32%. Revenue doubled from Q3 2020.
- Q4 EBITA before special items increased 92% to 13,670 tEUR (Q4 2019: 7,117 tEUR). The group EBITA-margin before special items was 37%. EBITA-margin was 52% in Publishing and 13% in Paid Media. In Q4, significant costs were added in Paid Media to shift the business model towards revenue share and new market openings.
- Earnings per share (EPS) increased by 143% to 0.18 EUR/share (Q4 2019: 0.07 EUR/share)
- Cash Flow from operations before special items was 10,148 tEUR (Q4 2019: 7,532 tEUR), an increase of 35%. The cash conversion was 71%. End of Q4, capital reserves were 43 mEUR consisting of cash of 28 mEUR and unused bank credit facilities of 15 mEUR.
- New Depositing Customers (NDCs) was above 153,000 in the quarter, a growth of 30%.
- Better Collective acquired the Atemi Group for 44 mEUR on October 1 and has completed a successful integration. Atemi Group is one of the World’s largest companies specialised in lead generation for iGaming through paid media and social media advertising. The acquisition is a major strategic move for Better Collective with significant synergistic opportunities.
Financial highlights full year 2020
- Revenue grew by 35% to 91,186 tEUR (FY 2019: 67,449 tEUR), with organic growth of 8%.
- EBITA before special items increased 34% to 36,604 tEUR (FY 2019: 27,231 tEUR). The EBITA-margin before special items was 40%.
- Cash Flow from operations before special items was 38,321 tEUR (FY 2019: 26,585 tEUR), an increase of 44%. Cash conversion rate before special items was 99%.
- Earnings per share (EPS) increased by 46% to 0.47 EUR/share (2019: 0.32 EUR/ share)
- New Depositing Customers (NDCs) exceeded 437,000 in 2020, similar to 2019. Performance was maintained despite the cancellation and postponement of major sports events due to the Covid-19 pandemic.
- During 2020, Better Collective completed acquisitions of approximately 80 mEUR:
- In March 2020, Better Collective established a strong position within the esports betting market through the acquisition of HLTV.org ApS. The purchase price was agreed at up to 34.5 mEUR on a cash and debt free basis.
- In October 2020, the acquisition of The Atemi Group was completed for 44 mEUR.
- In November 2020, the smaller acquisitions of Irishracing.com and Zagranie. com were completed for just above 1 mEUR.
- COVID-19 had a significant impact from the last part of Q1 as the pandemic set a halt on major sports events and thereby also online sports betting. Q2 was the most affected until some of the major sports in Europe resumed in June. In Q3, sports calendars were still affected with amended and reduced tournament formats, whereas Q4 has been largely back on track.
Significant events after the closure of the period
- January revenue reached 13 mEUR, a growth of 78% vs. 2020, of which 16% was organic growth. The organic growth was recorded despite a strong comparison towards January 2020 and was partly driven by the US business where total revenue in local currency almost doubled. In revenue from the affilliate business from sportsbetting and casino, the growth exceeded 200%.
- On January 1, 2021, Better Collective exercised its option to acquire a further 70% of the shares in Mindway AI for a total price of 2.3 mEUR (17 mDKK), bringing the ownership to 90%. Mindway AI specialises in software solutions based on artificial intelligence and neuroscience for identifying, preventing, and intervening in at-risk and problem gambling.
Financial targets 2021
With the expiration of the 2018-2020 targets and the introduction of segment reporting, the Board of Directors have decided on new targets for the financial year 2021: Revenue >160 mEUR, EBITDA >50 mEUR, Organic growth >20%, Net interest bearing debt/EBITDA <3.0. See page 13 of the report for more detail.
Conference call
A telephone conference will be held at 10.00 a.m. CET today by CEO Jesper Søgaard and CFO Flemming Pedersen. The presentation will simultaneously be webcasted, and both the telephone conference and the webcast offer an opportunity to ask questions.
Dial in details for participants:
Confirmation Code: 6573033
Denmark: +45 32 72 04 17
Sweden: +46 (0)8 56618467
United Kingdom: +44 (0)8444819752
Webcast link https://edge.media-server.com/mmc/p/msczk4rq
Jesper Søgaard, CEO of Better Collective, commented: “Looking back at an unusual year, I am pleased to see that our business has proven resilient and I am proud that we come out strong on performance. We have entered 2021 in great shape and are well-positioned for an eventful 2021”
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Evoplay starts a big fiesta in spicy new title Don Juan Peppers

Evoplay, the award-winning game development studio, has released Don Juan Peppers, a fiery new slot that blends bold bonus features with festive flair.
Set in a sun-soaked Mexican town bursting with colour, rhythm and celebration, the game invites players to join the charismatic Don Juan himself for a lively fiesta across 20 fixed paylines.
The action centres around two types of bonus symbols. Landing three Chili Bonus icons on reels two, three and four triggers seven Free Spins. During Free Spins, each appearance of a Chili Bonus symbol awards an Instant Chili Prize corresponding to the value shown above its reel.
Meanwhile, landing six or more Bonus symbols activates the bonus game. In this mode, all Bonus and Chili icons lock in place and reset the spin counter to three. Chilis in this round boost the value of up to four Bonus symbols before transforming and continuing the chase for bigger wins.
The bonus game also gives players a shot at four fixed jackpots: MINI, MEGA, SUPER, and the GRAND prize of 3,000x the bet. For players who want to skip straight to the fiesta, a Bonus Buy feature offers direct access to either the Bonus Game or Free Spins.
Don Juan Peppers is the latest release in Evoplay’s growing portfolio of standout slots, blending engaging gameplay with vibrant storytelling and proven features.
Ivan Kravchuk, CEO at Evoplay, said: “Don Juan Peppers is a celebration of bold design and dynamic mechanics. By blending familiar bonus features with a distinctive aesthetic and rhythmic theme, we’ve created a slot that feels both familiar and fresh.
“It’s a fantastic showcase of our approach to delivering high-performing content with real personality.”
The post Evoplay starts a big fiesta in spicy new title Don Juan Peppers appeared first on European Gaming Industry News.
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Greek Casino Industry Undergoes Major Transformation

The Greek casino industry is undergoing a major transformation, with high-profile investments and relocations redefining the market.
While casinos now account for a smaller share of the broader gambling industry, with the total Greek gambling market reaching $31.5 billion in wagers in 2023 and gross gaming revenue of $2.8 billion, the flurry of new licenses, relocations and integrated resort projects is reshaping the sector and attracting international attention.
Following global trends, Greek casinos are evolving into integrated resorts, where gambling is just one part of a broader entertainment and hospitality experience.
These resorts aim to attract high-end tourists, generate consistent visitor flows, boost tax revenue and enhance Greece’s international brand in luxury tourism. The next five years will be critical in establishing Greece as a leading Mediterranean destination for integrated resorts.
Leading the wave is the Hard Rock Hotel & Casino Athens at the former Ellinikon site, a project valued at $1.6 billion. The venture is a partnership between Hard Rock International (51%) and GEK TERNA (49%), a major Greek construction and energy company, set to create one of Europe’s largest integrated resorts.
Standing 646 feet (197 meters) tall with 42 floors, the resort will include a five-star hotel, a conference center, event spaces and a casino built to international standards. Completion is expected within three years, creating three thousand construction jobs and three thousand permanent positions once operational.
Another key development is the relocation of Parnitha Casino to Marousi. The plan, initially proposed thirteen years ago, overcame legal hurdles after the Council of State approved Presidential Decree No. 36 (FEK 79/A/30-3-2023), which permits the transfer and modernisation of the casino into a multifunctional complex.
This Voria complex will occupy 52 acres near Golden Hall—an upscale shopping mall in Marousi—with 27 acres allocated for public spaces and 25 acres housing the casino, a five-star hotel with 150 rooms, a 1400-seat auditorium, dining, entertainment areas and a 636-space underground parking garage.
The $270 million investment is projected to create three thousand construction jobs and three thousand permanent positions, with completion expected three years after the building permit, anticipated in September 2025.
Three other casinos—in Rio, Alexandroupolis and Corfu—are undergoing financial restructuring.
Saint George Participations, linked to the Arfani and Chioni families, secured operational approval from the Hellenic Gaming Commission (EEEP) and plans to acquire licenses and control by purchasing existing loans and shares.
Although legally and financially complex, investors have already committed $13 million, signaling long-term involvement even before taking equity stakes.
The EEEP is also preparing to award a new casino license in Gournes, Heraklion, Crete, independent of the broader redevelopment of the former US base managed by Dimand.
Crete’s strategic location, strong tourism and new infrastructure make it highly attractive. The license is expected to be offered via tender by early 2026, drawing international interest.
The post Greek Casino Industry Undergoes Major Transformation appeared first on European Gaming Industry News.
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UGC Calls for Global Teamwork to Stop Illegal Gambling

The Ukrainian Gambling Council (UGC) has called for a united, tech-based plan to tackle the worldwide increase in illegal online betting.
Viktoriya Zakrevskaya, UGC’s Deputy Chair, said the quick growth of digital platforms has led to more unlicensed operators. These operators often use cryptocurrencies and social media to avoid getting caught and to attract users.
Illegal operators now make up a big part of the $618.7 billion global iGaming market expected by the end of 2025. These platforms often register offshore, use anonymous payments and market online, making it harder to enforce laws against them.
Zakrevskaya pointed out that nations across the globe are trying out solutions that mix rules, tech and people’s involvement. Argentina, for example, has put in place tough age-checking systems and stops blacklisted websites on public Wi-Fi networks. This method, she explained, has made illegal sites harder to reach for at-risk groups such as kids.
In Indonesia, where betting is outlawed, officials have started watching money flows to cut off unlawful activity. Just last year, they froze 26,000 bank and e-wallet accounts tied to illegal betting operations, showing how focused money controls can limit unregulated gambling.
The US struggles with a unique problem because of its scattered rules. Unlawful betting websites are growing almost twice as fast as legal ones in the US. Over 80% of users see ads for unlicensed sites. People are now trying to tighten control on digital money and push big tech companies to better manage gambling content.
Ukraine has stepped up its crackdown. The country’s new watchdog PlayCity, which started after KRAIL was shut down, is teaming up with global tech firms like Meta to take down social media accounts that promote illegal casinos. The government has also blocked more than a hundred unlicensed sites thought to be sending money to Russia. Kyiv thinks Moscow uses the underground gambling world to fund its ongoing war.
A crucial element of Ukraine’s long-term plan involves creating a system to monitor bets and tax income in real time with transparency. The Ministry of Digital Transformation is working with tech experts to construct the platform, which should enhance supervision and boost public confidence in the regulated market.
The post UGC Calls for Global Teamwork to Stop Illegal Gambling appeared first on European Gaming Industry News.
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