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Better Collective reports organic revenue growth of 19% in Q1

Published

4 years ago

May 12, 2021

George Miller

Reading Time: 3 minutes

Interim report January 1 – March 31, 2021

Highlights first quarter 2021

Q1 revenue grew by 86% to 38,836 tEUR (Q1 2020: 20,921 tEUR). Organic revenue growth was 19%. The revenue split was 61% from Publishing and 39% from Paid Media.
Q1 EBITDA before special items increased 46% to 13,193 tEUR (Q1 2020: 9,045 tEUR). The EBITDA-margin before special items was 34%. EBITDA-margin was 51% in Publishing and 7% in Paid Media. The margin in the Paid Media segment was significantly impacted by the switch from pure CPA to hybrid revenue models at a cost of approx. 2 mEUR. Excluding these impacts, the margin would have been 19%.
Cash Flow from operations before special items was 16,102 tEUR (Q1 2020: 9,451 tEUR), an increase of 70%. The cash conversion was 121% due to an improvement of debtors and other short debt. End of Q1, capital reserves stood at 50.1 mEUR including cash of 34.8 mEUR and unused bank credit facilities of 15.1 mEUR.
New Depositing Customers (NDCs) was around 180.000 in the quarter (increase of 54%) and is at an all time high.
Better Collective has increased its ownership to 90% of the shares in Mindway AI that specialises in software solutions based on artificial intelligence and neuroscience for identifying, preventing and intervening in at-risk and problem gambling.
Better Collective has strengthened its position in the Swedish sports betting market by acquiring online sports betting media platform, Rekatochklart.com for 3.8 mEUR.

Significant events after the closure of the period

April revenue reached a record 13.1 mEUR, a growth of 185% vs. 2020, of which 51% was organic growth. Organic growth in the Publishing segment was 87% against a weak comparison due to the significant effect on April 2020 by the halt in sports during the COVID lockdown. In the Paid Media segment, organic growth was 14% against a strong comparison, as the halt in sports meant an increase in casino (predominant in the acquired Atemi Group)
On May 3, 2021, Better Collective signed an agreement to acquire 100% of the shares in The Action Network, Inc. for 240 mUSD (198 mEUR) on a cash and debt free basis. With the acquisition of Action Network, Better Collective gains clear market leadership within sports betting media in the US and now expects to increase its revenues in the US to more than 100 mUSD by 2022.
In April, a payment of 1.2 mEUR in cash, and 0.9 mEUR in shares were made to complete the 2020 earn-out payment relating to the acquisition of HLTV.
Following the AGM on April 26, 2021, Therese Hillman was elected to the Board of Directors. Therese is a Swedish national born in 1980. She is the current CEO of NOD, and was until recently Group CEO of NetEnt, a premium game supplier to online casino operators and listed on Nasdaq Stockholm.

Financial targets 2021
The Board of Directors have decided on targets for the financial year 2021 as announced in the full year report. Following the acquisition of The Action Network and contingent on the closing of the transaction in Q2, 2021, the financial targets for 2021 are updated: Total group revenue is now expected to exceed 180 mEUR (previously more than 160 mEUR). Operational profit is now expected to exceed 55 mEUR (previously more than 50 mEUR). Total group organic growth is now expected to exceed 25% (previously more than 20%). See page 10 of the report for more detail.

Jesper Søgaard, Co-founder & CEO of Better Collective, commented: “Q1 was another strong quarter for us with significant revenue growth and an increase in the number of New Depositing Customers of more than 50%. We have continued to strengthen our global market position with the addition of Swedish sports betting media platform, Rekatochklart, and most recently, US sports betting media market leader, Action Network, while also increasing our ownership of Mindway AI to 90% to further expand our initiatives within responsible gambling. We are very pleased with these accomplishments.“

ELA Games

ELA Games Casts Its Latest Spell with Witches’ Book

Published

15 hours ago

October 16, 2025

George Miller

ela-games-casts-its-latest-spell-with-witches’-book

Reading Time: 2 minutes

ELA Games beckons players to step into a shadowy realm of sorcery and mystery with its newest release: Witches’ Book

Bathe in the magic as a powerful coven of three witches conjures their spells across the reels, revealing mysterious rewards and surprises. Each spin is a step toward ultimate strength, where massive riches and bubbling magic await.

The Power of the Book

In the Witches’ Book, magic shimmers in every spin. Players aim to collect enchanted pages and experience the power of each witch’s most mythical spells.

Once players gather enough enchanted pages, they complete the spellbook and choose their witch and symbol to unlock the magical Free Spins. As the witches’ power grows, every symbol has the chance to transform into a Jackpot, turning ordinary spins into powerful, enriching moments.

A medium volatility level and 94.9% RTP ensure that wins are frequent even on the base game. Additionally, multiple surprise features can arise and spread across the 5×3 reel format, making each spin a potion of excitement.

ELA Games’ Magical Touch

Witches’ Book is an enchanting embodiment of ELA Games’ philosophy regarding creative innovation and a focus on engaging gaming experiences. The games’ animations, sound design, and dynamic mechanics blend to create an atmospheric game that will have players a part of the incantation.

Marharyta Yerina, ELA Games’ Managing Director, commented on the release, “With Witches’ Book, our goal was to create a title that emphasises the visually-rich aesthetics that embody the atmosphere of the brooding festive season. Every feature and design element was meticulously crafted to keep players engaged and deliver value for our partners. Witches’ Book is an example of our development approach: leverage creativity to entertain players while driving meaningful performance results for operators.”

Discover Enchanting Riches Now

Players can dive into the mysterious world of magic and spells today, with powerful gameplay and immersive experiences.

Finish your incantation and cast a powerful, lucrative spell today.

The post ELA Games Casts Its Latest Spell with Witches’ Book appeared first on European Gaming Industry News.

Bet It Drives

GR8 Tech’s Bet It Drives Hits the Portuguese Fast Lane with Tiago Pereira of LeBull.pt

Published

15 hours ago

October 16, 2025

George Miller

gr8-tech’s-bet-it-drives-hits-the-portuguese-fast-lane-with-tiago-pereira-of-lebull.pt

Reading Time: 2 minutes

Lisbon’s streets set the pace for Season 2 of GR8 Tech’s Bet It Drives — the drive-time podcast where iGaming’s most interesting voices speak freely, in motion. Hosted by Yevhen Krazhan, Chief Sales Officer at GR8 Tech, each episode captures raw insight, candid stories, and the kind of energy you can only find on the road.

Episode 2 puts the spotlight on Tiago Pereira, Head of Portugal at LeBull.pt, the executive who helped turn a logo and a bull into one of the fastest-growing brands in Portugal’s regulated iGaming market. With more than 20 years in sports betting, affiliates, and casino operations at Placard.pt, Betano.pt, bet.pt, and Sportingbet, Tiago has led market entries, compliance frameworks, sponsorships, and full-funnel digital growth.

During the ride, Tiago opens up about:

How he found his path and his journey from architecture and computer science to marketing.
The history of LeBull.
Portugal vs. Brazil: same language, different mindset: why copy-paste doesn’t work and true localization is key.
The idea behind the LeBull Night Show, a weekly late-night comedy event.
His failed marketing project.
Trusting younger generations.
His previous approach to marketing when he joined Betano in 2017.
Why the Portuguese sports betting market relies on the casino vertical.
The next chapter for affiliation.
Network or Not Work: mascots, localization, and keeping support teams local.
A small personal detail that’s still quietly visible online for those who know where to look.
His Champion Rule: move forward with an “I need to get this done” mindset. Whatever happens, don’t stop. Stay consistent, keep moving forward, and the results will follow.

“Tiago showed us how to win a new market with discipline, curiosity, and the courage to keep moving forward,” said Krazhan.

Watch or listen to Season 2, Episode 2 with Tiago Pereira on:

Bet It Drives Season 2 kicked off with Rasmus Sojmark and keeps the pace with upcoming episodes featuring Kyrylo Korobka and Kelly Kehn. Buckle up. Lisbon’s just getting started.

The next chapter of iGaming belongs to those who play smart and play bold. Meet GR8 Tech at booth 5028-2 during SiGMA Central Europe 2025 in Rome, November 3–6, and discover the Heavyweight Rulebook built for operators ready to scale, localize, and win.

The post GR8 Tech’s Bet It Drives Hits the Portuguese Fast Lane with Tiago Pereira of LeBull.pt appeared first on European Gaming Industry News.

FashionTV Casino

FashionTV Gaming Group Rolls Out the Red Carpet for a Royal Night in Rome

Published

16 hours ago

October 16, 2025

George Miller

fashiontv-gaming-group-rolls-out-the-red-carpet-for-a-royal-night-in-rome

Reading Time: 2 minutes

The “Royal Night in a Roman Palace” at Palazzo Brancaccio will mark a decade of success for the megabrand and honour its licensees and partners that together have revolutionised the online gaming industry by setting a new standard for branded luxury in iGaming.

FashionTV Gaming Group, the exclusive licensor of the FashionTV megabrand for the online gaming industry, will celebrate a defining moment in iGaming history with an unforgettable Royal Gala and the prestigious Royal Salute Ceremony at the historic Palazzo Brancaccio in Rome.

This exclusive, invitation-only extravaganza will welcome the global iGaming elite, from CEOs and founders of the world’s leading gaming companies to innovators, celebrities, and visionaries, uniting to celebrate ten years of success in bringing fashion, glamour, and luxury style to the online gaming world.

The event will honour Fashion TV Gaming Group’s global network of licensees, the industry titans and future pillars who have reshaped and infused branded gaming with luxury through the creation of FashionTV branded games across all iGaming verticals, as well as standalone FashionTV Casino and Sports Brands.

The evening will begin with a royal reception in the palace’s grand entrance hall, where guests will be filmed by the FashionTV crew and photographed alongside the iconic FashionTV Wall of Fame, joined by top FashionTV models and international celebrities.

The programme will continue with the Royal Salute Ceremony, followed by an exquisite gala dinner prepared by Palazzo Brancaccio’s Executive Chef, Francesco Paolo Baretta. The celebration will reach its peak with a spectacular FashionTV Party, featuring world-class DJs, live performances, and the unmistakable glamour of the FashionTV experience.

This milestone year of remarkable achievements crowns a decade of success for FashionTV Gaming Group and its partners, including a new strategic business roadmap, landmark collaborations with global gaming powerhouses, and the launch of standalone FashionTV Casino and Sports Brands across Asia and the GCC, with more industry giants soon to be announced.

Moshe Cohen, Founder & President of FashionTV Gaming Group, said: “The Royal Salute Ceremony is more than a celebration; it’s a statement. In Rome, we honour our licensees, the pioneers who believed in our vision, joined our journey, and turned a dream into reality, alongside the current industry titans and the future pillars of our world.”

The post FashionTV Gaming Group Rolls Out the Red Carpet for a Royal Night in Rome appeared first on European Gaming Industry News.