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Better Collective reports organic revenue growth of 19% in Q1

Published

3 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.“

Choctaw Casinos & Resorts

Low6 partners with Choctaw Casinos & Resorts to deliver new interactive game

Published

2 hours ago

April 19, 2024

GamingAmericas.com

low6-partners-with-choctaw-casinos-&-resorts-to-deliver-new-interactive-game

Low6, the leading gamification innovator, has announced its latest free-to-play partnership with Choctaw Casinos & Resorts by launching Choctaw T-Box, an interactive mobile game for the Invited Celebrity Classic held at Las Colinas Country Club in Irving, Texas, April 19 – 21.

Designed to engage with golf fans throughout the tournament, the unique second screen experience combines an innovative twist to a much-loved game with the thrill of prize draws.

“Choctaw Casinos & Resorts is committed to engaging and entertaining fans in innovative ways,” said Erica Kosemund, senior director of gaming brand and partnerships for Choctaw Casinos & Resorts. “The free-to-play Choctaw T-Box game will give fans an added level of interaction at the Invited Celebrity Classic. Low6 has a track record of delivering first-in-class engaging content and we found them to be a perfect fit for the environment we are looking to achieve.”

Players are issued a 25-squared T-Box card with each square randomised with a different event that may occur at the tournament e.g. “Mardy Fish scores 4 Birdies”. Should the event occur during play, the square is won and players can earn more entries into a Prize Draw with the more squares they win. A single line (5 squares in a row/column/diagonal) is worth 5 bonus entries, a T-shape (top row and centre column) is worth 25 bonus entries and a blackout (all 25 squares) is worth 50 bonus entries.

Fans playing Choctaw T-Box will have a chance to win prizes at the end of each day. Prizes include a package valued at $750 that includes a two-night stay at Choctaw Casino & Resort – Durant, as well as $250 in resort credit. Players can also win $250 in free play. Players must be members of the Choctaw Rewards Club to claim prizes.

Jamie Mitchell, CEO of Low6, said: “We are incredibly excited with the launch of Choctaw T-Box at the Invited Celebrity Classic. It’s a classic game with a unique digital sporting spin that will entertain fans even more throughout the tournament. Our innovative white label product allows brands to successfully activate their sponsorships at sporting events and can be fully customised across any sport.”

Central Europe

Wazdan amplifies Swiss presence with Swiss4Win launch

Published

3 hours ago

April 19, 2024

George Miller

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Reading Time: < 1 minute

Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences has further expanded in the regulated Swiss market, taking its games live with Swiss4Win.

The collaboration enhances Wazdan’s profile in the country with Swiss4Win’s leading online gambling platform revolutionising player experiences with the introduction of the studio’s exciting range of games.

As Wazdan continues to deliver the world’s most rewarding casino game experiences, this new partnership heralds a new era of entertainment. Players can look forward to a diverse selection of captivating slots designed to appeal to Swiss players.

In conjunction with this partnership, Swiss4Win unveils its new website, meticulously crafted to enhance user engagement. The platform boasts a cutting-edge SEO-oriented design, complemented by a sleek dark mode interface. With a heightened focus on slot providers, the website features a dedicated page showcasing premier gaming offerings.

Radka Bacheva, Head of Sales and Business Development at Wazdan, said: “We’re excited to join forces with swiss4win.ch to introduce our latest games to players worldwide. This collaboration represents a shared commitment to innovation and excellence in the iGaming industry.”

Paolo Sanvido, Chief Executive Officer at Casino Lugano and Swiss4Win, added: “Wazdan’s distinguished reputation stems from its exceptional graphics and innovative features, which have resonated with players globally. Its dedication to crafting enriching casino experiences offers players greater control over their gaming preferences and seamlessly aligns with our audience’s interests.”

The post Wazdan amplifies Swiss presence with Swiss4Win launch appeared first on European Gaming Industry News.

Industry Awards

WhichBingo Reveals 2024 Award Winners at 10th Anniversary of the WhichBingo Awards

Published

3 hours ago

April 19, 2024

Niji Narayan

whichbingo-reveals-2024-award-winners-at-10th-anniversary-of-the-whichbingo-awards

Reading Time: 2 minutes

WhichBingo, one of the UK’s best-known and most trusted online bingo review and affiliate sites, owned and operated by Gambling.com Group, has announced its 2024 WhichBingo Award winners at an action-packed event aboard the Sunborn Yacht Hotel in Gibraltar. The headline sponsor of the event was Pragmatic Play, a prolific provider of slot games and a powerhouse bingo platform. Other big-name sponsors included Eyecon and its parent company, Playtech.

Gala Bingo and Buzz Bingo were the big winners of the night, picking up four awards each. Popular choice awards for Gala Bingo included Best Bingo Site, Best Proprietary Bingo Site and Best Slots site for its Gala Spins game. In addition, Gala Bingo was awarded Best Marketing Campaign by an expert panel of judges. Buzz Bingo walked away with the trophies for Best Chat Team, Best Exclusive Bingo Game and Best Playtech Bingo site thanks to the player votes – and Best Livestream Entertainment from the judging panel.

There were several new features to mark the 10th anniversary of the WhichBingo Awards, including the first WhichBingo Player Panel. Designed to bring real players and their insights to industry insiders, and hosted by WhichBingo safer gambling partner Better Change, the panel was a highlight of the event. Themes included what players value most in online bingo games and a deep dive into their preferred play styles. In another first, the inaugural Better Change Positive Play Award was presented to PlayOJO in recognition of its efforts to ensure players stay safe while still having fun.

The night’s entertainment included the UK’s own Dabbers Social Bingo, famous for its annual contest to find the best comedy bingo caller. The bingo operators were the ones dabbing the bingo cards for a change, and the winners walked away with some enviable prizes.

“Congratulations to all of the winners of the 2024 WhichBingo Awards. It’s truly inspiring to see the passion and dedication of the bingo community celebrated in such a spectacular fashion. At Gambling.com Group, we value our partnerships with operators, affiliates, and industry leaders, and we are proud to be part of such an engaged and vibrant community,” Owen Watters, Vice President Commercial at Gambling.com Group, said.

WhichBingo was founded more than two decades ago, and the WhichBingo Awards remain one of the annual highlights in the UK’s online bingo industry calendar, a unique celebration that recognizes the best brands in the gaming business.

All the Award Winners in Full:

Best Bingo Site: Gala Bingo

Best Slot Game: Big Bass Amazon Xtreme (Pragmatic Play)

Best Exclusive Bingo Game: Buzz Bingo Live Bingo

Best Pragmatic Play Bingo Site: Heart Bingo

Best Dragonfish Bingo Site: 888Ladies

Best Playtech Bingo Site: Buzz Bingo

Best Proprietary Bingo Site: Gala Bingo

Best Bingo Chat Team: Buzz Bingo

Best Slots Site: Gala Spins

Judged Awards

Better Change Positive Play Award: PlayOJO