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Better Collective Interim report January 1 – December 31, 2020

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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.

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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

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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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Logifuture enters high-growth Croatian market with Mozzart partnership

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Leading South-Eastern Europe operator integrates virtual product Simulate

Logifuture, an award-winning supplier of iGaming products, has expanded its partnership with leading South-Eastern Europe operator Mozzart to launch its Simulate virtual product in Croatia. This latest rollout follows the success of the same product in Serbia and Kenya, where the collaboration between the two companies has already delivered strong results.

Simulate delivers an entirely new level of engagement – something players have never seen before. It adds instant fun to the betting experience, allowing users to simulate the outcome of their betslip in just a few seconds, using real teams, real events, and real markets. No waiting for matches to start. No delays. Just instant action and instant payouts, bringing an extra layer of excitement that enhances the classic sportsbook experience.

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Croatia represents a key growth market for both Mozzart and Logifuture, with its rapidly expanding online gaming sector offering a dynamic opportunity to engage a new and diverse audience.

‘Fast, immersive experiences’

Niccolo Cassettari, Chief Business Development Officer at Logifuture, said: “We’re proud to partner with Mozzartbet Croatia to launch Simulate, our next-gen football game designed for players who crave fast, immersive experiences. The Croatian market has a strong appetite for innovative sports content, and Simulate delivers exactly that – real match scenarios, rapid gameplay, and a format that keeps users engaged round after round.

“This collaboration reflects our shared commitment to pushing the boundaries of virtual sports. For Logifuture, it’s about more than just adding another game to the portfolio – it’s about enhancing Mozzartbet’s user offering with something genuinely different. We’re confident Simulate will quickly resonate with their audience and drive both engagement and retention.”

Katarina Masal, Virtual Games Sector Manager at Mozzartbet Group, said: “At Mozzartbet, our commitment has always been to deliver exceptional gaming experiences to our players.

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“The positive response we saw with Simulate in other markets made it an easy choice to expand this partnership into another exciting market for us.

“We’re excited to introduce Simulate and eager to offer our Croatian players an engaging and immersive gaming experience.”

The post Logifuture enters high-growth Croatian market with Mozzart partnership appeared first on European Gaming Industry News.

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Former Betway director joins Yolo Entertainment as Chief Revenue Officer

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Sportsbet.io and Bitcasino operator Yolo Entertainment has appointed former Betway Commercial Development Director Stephanie Eddy as its new Chief Revenue Officer.

Eddy joins after more than a decade at Betway, and will oversee Yolo Entertainment’s commercial performance across key regions and strategic channels.

This will include a sharp focus on driving revenue growth while enhancing the efficiency of Yolo Entertainment’s acquisition funnel.

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“Steph is a proven leader with the commercial instincts and strategic vision that align perfectly with our ambitions, and we are thrilled to welcome her to our leadership team,” said Matthew D’Emanuele, CEO of Yolo Entertainment. “Steph’s appointment underscores our commitment to accelerating the growth of Sportsbet.io and Bitcasino, expanding our brand and product portfolio, and delivering an exceptional customer experience. Steph’s expertise will be instrumental as we continue to strengthen our global presence.”

Stephanie Eddy, Chief Revenue Officer at Yolo Entertainment, added: “Yolo Entertainment has consistently pushed boundaries in gaming and crypto. I’m thrilled to join the team at this exciting moment, and help take these world-class brands to even greater heights.”

Over the last few months, Yolo Entertainment has hired a series of industry leaders to help drive the next stage of growth for its Sportsbet.io and Bitcasino brands.

In April, Jock Jamieson-Black, James Clark, Abu Koroma and Charlene Cassar joined in senior positions across CRM, content, product engineering and business intelligence.

The post Former Betway director joins Yolo Entertainment as Chief Revenue Officer appeared first on European Gaming Industry News.

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EGT Digital and Optimove Partner to Power Real-Time CRM Marketing in iGaming

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EGT Digital is proud to announce a strategic partnership with the leader in Positionless Marketing Optimove. This collaboration marks a major advancement in the company’s X-Nave platform capabilities, enabling operators to deliver real-time, personalized player experiences at scale.

“Partnering with Optimove and integrating their Positionless Marketing Platform into our X-Nave system marks a significant leap forward for our ecosystem,” commented Georgi Mihaylov, Deputy CEO at EGT Digital. “It arms our operator partners with the intelligence and agility they need to craft personalized, real-time experiences that boost retention and long-term player value. This is not just an enhancement – it’s a competitive edge in the fast-evolving market.”

Optimove’s Positionless Marketing approach breaks down silos and empowers marketers to act swiftly and autonomously, aligning perfectly with EGT Digital’s commitment to providing flexible, scalable solutions across casino, sportsbook, and lottery verticals.

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“EGT Digital is pushing the industry forward with an agile and future-focused platform,” said Motti Colman, VP Revenue, Gaming at Optimove. “Together, we’re enabling operators to unlock the full power of Positionless Marketing, giving every marketer the ability to analyze data, generate creative assets, and launch self-optimizing campaigns without waiting on anyone else.”

This partnership will bring numerous benefits to operators using X-Nave platform. It will enhance player retention through deeper personalization and will streamline marketing operations with AI-driven insights, while launching smarter campaigns faster and maximizing player lifetime value.

EGT Digital remains committed to delivering innovation that drives growth. The collaboration with Optimove sets a new standard for marketing performance in the iGaming industry.

The post EGT Digital and Optimove Partner to Power Real-Time CRM Marketing in iGaming appeared first on European Gaming Industry News.

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