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Better Collective increases organic revenue by 29 percent; strong growth across US assets and media partnerships

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Interim report January 1 – September 30, 2021

Highlights third quarter 2021

  • Group Revenue grew by 148% to 45,413 tEUR (Q3 2020: 18,298 tEUR). Organic revenue growth was 29%. September reached a new monthly revenue record of 20,285 tEUR, equal to 45% of the total quarterly revenue.
    • The quarter showed strong underlying growth on all major KPIs, however, revenue was impacted downwards by very low sports win margins in July and August. The sports win margins were negatively affected by larger operators accelerating marketing campaigns (free-bets, retention-bonuses etc.), as well as continued strong NDC performance, where new depositors receive sign-up bonuses.
    • The US business performed strongly with Q3 2021 revenue of >5x compared to Q3 2020 revenue. Revenue for September jumped to 8.9 mEUR (>10 mUSD) reflecting a strong start of the high season for US sports and the state of Arizona opening for online sports betting. Strong performance across all US assets including the newly acquired Action Network.
    • In Germany, a long-awaited new gambling regulation came into force from July 1. The market development has been in line with our expectations; for Better Collective, September revenue from the German market was on par with the monthly average in H1. Based on the current performance in Germany, revenue for the full year 2021 is expected to exceed prior years 2019 and 2020, respectively, with expected continued revenue growth in 2022.
    • Media partnerships continued with strong performance with almost 45,000 NDCs. More media partnerships are expected to be established in various countries.
  • Group EBITDA before special items increased 63% to 13,583 tEUR (Q3 2020: 8,326 tEUR). The EBITDA-margin before special items was 30% (Publishing 40% and Paid Media 9%).
  • Special Items in Q3 2021 amounted to a cost of 11,588 tEUR vs. an income of 44 tEUR in Q3 2020. It includes an 11,487 tEUR adjustment of the contingent liability related to the 2019 acquisition of Rical LLC, treated as a P/L item under IFRS.
  • EBITDA after special items amounted to 1,995 tEUR, a decrease of 6,375 tEUR vs. 8,370 tEUR in Q3 2020.
  • Cash Flow from operations before special items was 10,498 tEUR (Q3 2020: 8,359 tEUR), an increase of 26%. The cash conversion was 76%, and was impacted by a significant increase in revenue for September vs. June driving increased trade receivables from Q2 2021. End of Q3, capital reserves stood at 64.1 mEUR including cash of 35.4 mEUR and unused bank credit facilities of 28.7 mEUR.
  • New Depositing Customers (NDCs) were >200,000 in the quarter with an implied growth of 110% and a new quarterly record despite July and August being the low season for major sports.
  • Better Collective acquired Soccernews.nl and Voetbalwedden.net for total 5.9 mEUR upfront payments plus deferred and earn-out payments of up to 3.75 mEUR, to gain a leading position in the newly regulated Dutch online sports betting market.
  • Better Collective resolved on a directed share issue of 6.9 million shares, raising proceeds of 145 mEUR to maintain financial flexibility.
  • For the fourth consecutive year, Better Collective topped the prestigious EGR Global’s Power Affiliates 2021 ranking.

Financial highlights first nine months 2021

  • In the first nine months of 2021, revenue grew by 128% to 124,257 tEUR (YTD 2020: 54,472 tEUR).
  • In the first nine months of 2021, EBITDA before special items increased 64% to 39,439 tEUR (YTD 2020: 24,044 tEUR). The EBITDA-margin before special items was 32%.
  • Special Items amounted to a cost of 17,006 tEUR vs. an income of 252 tEUR YTD 2020. It includes an 11,487 tEUR adjustment of the contingent liability related to the 2019 acquisition of Rical LLC, treated as a P/L item under IFRS, in addition to 5,784 tEUR related to M&A transactions, primarily the acquisition of Action Network in May, 2021.
  • EBITDA after special items amounted to 22,433 tEUR YTD, a decrease of 1,863 tEUR vs. 24,296 tEUR YTD 2020.
  • Cash Flow from operations before special items was 37,670 tEUR (YTD 2020: 28,173 tEUR), an increase of 34%. The cash conversion rate before special items was 97%. End of Q3 2021, cash and unused credit facilities amounted to 64.1 mEUR.
  • New Depositing Customers exceeded 575,000 in the first nine months of 2021 (growth of 103%).
  • Better Collective acquired leading US sports betting media platform, Action Network, for 196 mEUR (240 mUSD), gaining market leadership within sports betting media in the US.
  • On May 26, 2021, the Board of Directors resolved on a directed share issue of 6.9 million shares, raising proceeds of 145 mEUR to maintain financial flexibility.

Significant events after the closure of the period

  • October revenue reached 16.8 mEUR, with organic growth of 17% and a total growth of 34% vs. last year. The growth is achieved despite an all time low sports win margin in October.
  • On November 4, the completion of the acquisition of the remaining 40% of Rotogrinders Network was announced. Since the initial share acquisition Rotogrinders has shown strong performance with expected 2021 revenue more than doubling since 2019, with a 47% compound annual growth rate. Expected 2021 EBITDA is 4.4x higher than 2019, growing at a 109% compound annual growth rate.
  • In the state of New York, nine operators were recently awarded sports betting licenses. Projected to become the single largest online betting market in the US, New York presents a big opportunity for Better Collective and for our operator partners now licensed. Betting is expected to commence in January 2022, in time for the Super Bowl.
  • Better Collective received an award for its efforts within compliance at the Vixio Global Regulatory Award. At the same show, Better Collective’s subsidiary, Mindway AI, received two awards for its efforts within responsible gambling.

Financial targets
The full-year financial targets for 2021 for the group remain unchanged. Growth in the Publishing business exceeds prior expectations whereas Paid Media sees lower growth than anticipated, which is reflected in an adjustment of the detailed segment targets.

Jesper Søgaard, Co-founder & CEO of Better Collective, commented:
Q3 was a great quarter closing with an all time high monthly revenue in September. This was partially the result of strong performance across all our US assets, including our recent acquisition, Action Network. September was also the beginning of the high season for US sports, which is expected to fully materialise in the Q4 results. “

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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.

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Business Press Release (The Guardian, Gambling Commission, TalkSport)

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SSC Napoli, Champions of Italy, Aligns with Rabona in Long-Term Strategic Partnership

Rabona, a leading international sportsbook brand, has been named the Official Regional Betting Partner of SSC Napoli — the reigning champions of Italy and one of Europe’s most prestigious football clubs. This long-term partnership is set to commence on July, 2025.

The collaboration marks a significant alignment between two ambitious organizations, each known for their commitment to excellence, digital innovation, and loyal fan engagement. Following Napoli’s historic fourth Serie A title win in the 2024-25 season, this partnership comes at a high point for the club, offering Rabona access to one of the strongest brands in modern football.

We are proud to welcome Rabona as SSC Napoli’s new European Betting Partner. This partnership marks an exciting chapter for our club, as it brings us even closer to the millions of Napoli fans across Europe,” stated Leonardo Giammarioli, Chief Global Business Officer at SSC Napoli. “We’re particularly enthusiastic about the spirit of innovation Rabona brings, and we look forward to exploring creative and engaging activations together that reflect the passion and ambition of our club and supporters.”

For Rabona, the partnership is a chance to put its full digital toolkit to work — supporting a world-class club that’s eager to deepen its bond with fans. This is exactly the kind of challenge the brand is built for. With powerful engagement tools, a tech-first mindset, and a passion for the game, Rabona is ready to deliver smart, high-impact solutions that match Napoli’s ambition — and bring real value to their community.

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We are genuinely excited about this partnership, it’s such a huge deal for us. Why? Because we’re fans too! Just look at the name of our brand. ‘Rabona’ refers to a unique football move, famously loved by the legendary Neapolitan captain No. 10. We are very happy to be able to share our digital solutions with Napoli’s supporters. Our mission is to connect fans with their idols, and we have all the tools. You’ll love our fresh ideas — from launching live streams with built-in interactivity to facilitating special moments IRL. Getting to bring the football community even closer is a dream come true.”

Rabona’s strategy is rooted in technology and innovation. Together with SSC Napoli, the brand is rolling out a suite of interactive experiences and activations designed to turn passive viewership into active engagement. These include:

  • Real-time Q&A sessions with the players via interactive video streams
  • Exclusive promotions and betting opportunities connected to club milestones
  • Behind-the-scenes content and team insights distributed through Rabona and Napoli channels
  • Localised campaigns tailored to European markets with strong fan engagement

This partnership also presents significant upside for Rabona’s affiliate and business networks. Associating with SSC Napoli — a club with global recognition and on-field momentum — enhances Rabona’s credibility, boosts brand equity, and creates a powerful narrative for audience acquisition in competitive betting markets. With a growing presence in key global markets and a digital-first product offering, Rabona will use this collaboration to deepen engagement with football audiences across Europe, elevate its brand profile, and deliver measurable business outcomes.

Beyond customer-facing gains, the deal positions Rabona as a case study in how sports betting brands can engage with top-tier clubs in ways that create long-term business value. This partnership goes beyond banner space and impressions, focusing instead on technology-led brand-building that respects the integrity of sport while delivering measurable returns.

The collaboration arrives at a time when both parties are accelerating their growth. For Napoli, it’s about maintaining momentum and increasing international reach. For Rabona, it’s an opportunity to anchor its presence in football culture while scaling its operations with authenticity and precision.

Rabona continues to demonstrate that it is more than just a sportsbook — it’s a digital partner capable of shaping the future of fan engagement and sports entertainment. With SSC Napoli by its side, the brand enters a new chapter defined by connection, creativity, and commercial potential.

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Expressed through the slogan “Be Napoli. Play with Rabona,” the partnership celebrates the identity and passion of Napoli supporters, offering new ways to deepen their connection to the club they love.

Eager to find out more? Visit Rabona.com for full details.

The post Business Press Release (The Guardian, Gambling Commission, TalkSport) appeared first on European Gaming Industry News.

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Alea doubles down on cybersecurity with Continent 8’s full-spectrum assessment solutions

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Continent 8’s Vulnerability Assessment and Penetration Testing, Security Audit and Vulnerability Scan services enable Alea to further strengthen the security and resilience of its iGaming platform

Continent 8 Technologies, the leading provider of global managed hosting, connectivity, cloud and cybersecurity solutions for the iGaming and online sports betting industry, announces that it has expanded its cybersecurity collaboration with Alea.

Building on its current programme of Vulnerability Assessment and Penetration Testing (VAPT) services with Continent 8, Alea – the award-winning casino game aggregator – has deepened its partnership with Continent 8 and its cybersecurity division, C8 Secure, by integrating Security Audit and Vulnerability Scan (V-Scan) services. This strategic initiative further enhances Alea’s cybersecurity posture and underscores the company’s ongoing investment in the resilience and integrity of its infrastructure.

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The expanded cybersecurity assessment programme delivers a wide range of benefits for Alea and its operator network, including:

  • Identifying, assessing and mitigating vulnerabilities in IT infrastructures, applications and networks
  • Ensuring compliance with industry best practises and cybersecurity frameworks by evaluating security policies, procedures and governance
  • Recognising new vulnerabilities, highlighting areas for improvement and prioritising remediation efforts
  • Developing a customised roadmap for ongoing improvement to enhance cybersecurity posture and maturity
  • Enhancing the trust and confidence of customers and partners by implementing industry-best cybersecurity measures

Eduard Fumás, CTO at Alea: “Security is built into everything we do at Alea. We’ve always believed that operators and their players deserve the highest level of protection. This is why we’ve invested in strong encryption, fraud prevention tools and a robust infrastructure from day one.

“Working with Continent 8 has helped us put that commitment to the test. Their expertise allows us to validate and strengthen our systems with confidence. We’re proud of how far we’ve come together, and even more excited about what’s next as we keep raising the bar and building a platform that our partners can trust completely.”

Patrick Gardner, Chief Security Officer at Continent 8 added: “As Alea continues to grow and expand, its proactive commitment to maintaining a secure iGaming aggregator platform becomes paramount. In our ongoing collaboration with Alea, we remain dedicated to fostering and supporting their cybersecurity initiatives – ensuring that both Alea and its extensive partner ecosystem stay protected, resilient and prepared.”

Continent 8 will be exhibiting at SBC Summit Lisbon, from 16-18 September at Stand C80.

The post Alea doubles down on cybersecurity with Continent 8’s full-spectrum assessment solutions appeared first on European Gaming Industry News.

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SOFTSWISS Turns 16: Milestones That Defined the Year

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SOFTSWISS, an international tech company in the iGaming industry, celebrates 16 years of growth and bold decisions. This year marks a new chapter in the company’s journey — with a strategic focus on strengthening its presence in emerging markets, accelerating global expansion, and obtaining new certifications across key jurisdictions.

The year 2025 is a turning point for the industry, with a long-awaited regulatory framework taking effect in several markets, including Brazil and Peru.

SOFTSWISS is the first company to secure certification for its flagship Game Aggregator in Brazil in late 2024. By early 2025, all products within the SOFTSWISS tech ecosystem – including the Jackpot Aggregator, Casino Platform, and Sportsbook –  were certified for operation in this emerging market. This enabled both existing and new clients to expand in Brazil with full regulatory support, confidently.

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With over 1,350 brands powered by SOFTSWISS solutions, the company continues to earn trust through its proven stability and performance, maintaining system uptime at 99.999% worldwide. As a testament to this success, SOFTSWISS has received 73 industry and business awards over the past five years, recognising excellence in product innovation, compliance, marketing, and employer branding. 

This year, recognition extended to individual SOFTSWISS leaders, highlighting their growing influence beyond iGaming and into the broader tech and business landscape. Ivan Montik, Founder, received multiple prestigious business awards. Sergey Kastukevich, Deputy CTO, was named CTO of the Year at the Oracle Customer Excellence Awards, reaffirming SOFTSWISS’ technological leadership. Valentina Bagniya, CMO, earned several accolades for her outstanding contributions to marketing and industry influence.

In addition to its product and leadership achievements, the company continues to invest in industry development through educational and social initiatives. Notably, SOFTSWISS was the first in the iGaming sector to launch large-scale industry research, collecting and analysing data to produce open-access reports to support market maturity and transparency. The 2025 edition of the SOFTSWISS iGaming Trends Report became a record-breaker, reaching over 13,000 downloads and cementing the company’s role as a thought leader.

Beyond technology, SOFTSWISS invests in people and purpose, supporting charitable, educational, and CSR initiatives as part of its commitment to responsible growth. The company with offices in Malta and Georgia, development hubs in Poland, has also a remote team across 46 countries.

“Last year, we celebrated 15 years with our partners, clients, and team –  and this past year brought new challenges that we’ve faced with confidence and clarity. While SOFTSWISS is, at its core, a technology company – driven by AI, automation, and innovation – I firmly believe our people shape the company’s long-term success. Technology accelerates progress, but talent, vision, and shared values make it sustainable,” says Ivan Montik, Founder of SOFTSWISS.

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These values are deeply reflected in the company’s culture and HR approach, offering people the space to grow professionally, take initiative, and lead.

“Five years ago, SOFTSWISS had fewer than 500 employees. I was 19 and had only just started my career, with only one job behind me. That initial experience in audience growth and analytics brought me to SOFTSWISS, where I was mentored, given tools to learn, and encouraged to step up. Today, I lead the Data Office – a 24-person team that supports the company with trusted, consistent data.. Looking back, I couldn’t have imagined this path. But I’m living proof that at SOFTSWISS, real growth isn’t just encouraged – it is made possible,” shares Anna Ivanova, Head of Data Office. 

As SOFTSWISS steps into its 17th year, one thing is clear: behind every product, every launch, and every success, there is a team of people driving it forward and they are just getting started.

The post SOFTSWISS Turns 16: Milestones That Defined the Year appeared first on European Gaming Industry News.

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