Latest News

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

Published

4 years ago

November 17, 2021

George Miller

Reading Time: 4 minutes

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. “

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.

Akshat Rathee

Indian Esports 2026: Strategic Growth and the Asian Games Milestone

Published

2 hours ago

January 6, 2026

Wladimir P.

indian-esports-2026:-strategic-growth-and-the-asian-games-milestone

The Indian esports landscape is transitioning from a period of rapid “spectacle” growth to a phase defined by lasting institutional structure. Following the implementation of the Promotion and Regulation of Online Gaming Act (PROGA), 2026 is set to be the year where regulatory clarity, international competition, and domestic grassroots development converge.

The Impact of PROGA: Policy into Practice

The Promotion and Regulation of Online Gaming Act (PROGA), signed into law in August 2025, has officially moved from policy to practice. Its primary contribution to 2026 is the explicit separation of esports from money-based gaming.

Legitimacy: By categorizing esports as a legitimate competitive pursuit, PROGA has unlocked state-level adoption and cleared the way for schools and colleges to integrate gaming into their sports frameworks.
Commercial Confidence: With a clear regulatory environment, brands in sectors like FMCG, automotive, and BFSI are now viewing esports as a stable, long-term youth engagement platform rather than a risky experiment.
Athlete Pathways: PROGA facilitates the creation of standardized national registries for athletes, ensuring that competitive integrity is maintained across grassroots and professional tiers.

The Asian Games 2026: A Global Stage

The Asian Games 2026 in Aichi and Nagoya, Japan, serves as the most critical milestone for the ecosystem this year.

Medal Status: Esports will feature as a full medal event with 11 confirmed titles, including League of Legends, PUBG Mobile (Asian Games Version), and Pokémon UNITE.
Indian Prospects: India’s best historical result (quarter-finals in League of Legends at Hangzhou) has set a high bar. For 2026, the focus has shifted toward high-performance training camps and long-term athlete mentorship to secure a podium finish.
Multi-Sport Integration: Participation alongside traditional athletes reinforces the narrative that esports is a viable professional career, further encouraging government investment through schemes like Khelo India.

Market Evolution and Key Trends

The Indian gaming market is projected to reach approximately $5.02 billion in 2026, driven by a massive player base exceeding 500 million gamers.

Trend	Impact in 2026
Mobile Dominance	Over 95% of the market remains mobile-first, fueled by 5G expansion and affordable hardware.
Beyond BGMI	2026 is seeing a push to diversify the market into fighting games, sports simulations, and PC titles to avoid “one-title dependency.”
Monetization Shift	Revenue is shifting from pure advertising toward battle passes, subscription models, and in-game progression.
Tier II & III Growth	Most new user acquisition is coming from smaller cities, demanding more vernacular and localized content.

The post Indian Esports 2026: Strategic Growth and the Asian Games Milestone appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Bison Strike

ENJOY Boosts Global Distribution with Strategic EveryMatrix Deal

Published

2 hours ago

January 6, 2026

Wladimir P.

enjoy-boosts-global-distribution-with-strategic-everymatrix-deal

ENJOY, the fast-rising iGaming content developer, has secured a significant distribution agreement with EveryMatrix. The deal will see ENJOY’s full suite of video slots and next-generation live casino game shows integrated into the SlotMatrix aggregation platform, making them available to an expansive network of tier-one global operators.

This partnership marks a critical milestone for ENJOY as it enters its primary phase of commercial expansion. By joining the SlotMatrix ecosystem—one of the industry’s largest content hubs—ENJOY gains immediate access to regulated markets worldwide and a streamlined path to brand visibility.

Bison Strike and Innovation in the Spotlight

The integration includes ENJOY’s most recent flagship launch, Bison Strike, alongside a curated library of high-performing titles. ENJOY is carving out a reputation for “indie-style” creative flair combined with technical reliability, focusing on two core verticals:

Video Slots: High-volatility titles with immersive storytelling and meticulously crafted art.
Live Game Shows: 24/7 interactive experiences streamed from a purpose-built studio, designed to drive player retention through next-gen engagement mechanics.

Leadership Insights on Global Scalability

The agreement follows a string of successful partnerships for ENJOY, which has already established links with platforms like SoftGamings and Gamingtec under the leadership of its new CCO.

“This partnership with EveryMatrix gives us a launchpad that, as a newcomer, we are privileged to access,” said Christos Zoulianitis, Chief Commercial Officer at ENJOY. “EveryMatrix’s reputation as a trusted aggregator and its global distribution power allow us to accelerate our growth significantly. We’re bringing fresh ideas to both the slots and live casino verticals, and EveryMatrix gives us the reach to put that innovation in front of the right operators immediately.”

Bjorn Sjoberg, CCO at SlotMatrix, added: “ENJOY has shown real ambition and creative flair with its early releases. Our mission is to connect high-quality, forward-thinking studios with operators who value fresh content, and ENJOY fits that brief perfectly.”

The post ENJOY Boosts Global Distribution with Strategic EveryMatrix Deal appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Blask Index

Saudi Arabia, Greece, and the Philippines Lead iGaming’s Rising Markets in 2025

Published

2 hours ago

January 6, 2026

Wladimir P.

saudi-arabia,-greece,-and-the-philippines-lead-igaming’s-rising-markets-in-2025

Saudi Arabia, Greece, and the Philippines have emerged as the most significant rising markets of 2025, according to a comprehensive year-end analysis from the market intelligence ecosystem Blask.

The findings are based on the proprietary Blask Index, a real-time tracking tool that monitors player attention and search volumes across 107 countries. While established markets like the United Kingdom maintained the top spots, these three jurisdictions saw the most aggressive climbs in global rankings.

2025 Market Movers: The Biggest Climbers

The global iGaming landscape experienced a shift in 2025 as emerging interest in the Middle East and regulatory overhauls in Asia-Pacific redirected player attention.

Market	Index Rank Change	2025 Position	Key Growth Driver
Saudi Arabia	+9 Places	20th	High youth demographics & digital adoption
Philippines	+4 Places	12th	New PAGCOR B2B licensing framework
Greece	+4 Places	17th	Robust online growth from operators like OPAP

Saudi Arabia: The Surprise Performer

Saudi Arabia was the year’s most improved market, breaking into the Global Top 20 for the first time. Despite strict local prohibitions, the market saw a sharp uptick in interest driven by a young, mobile-first population (over 70% under age 35) and a massive shift toward digital entertainment under the Vision 2030 initiative. The growth reflects an “underground” surge in demand typically seen in restricted but hyper-connected markets.

Philippines: Regulatory Modernization

The Philippines climbed to 12th place, fueled by the PAGCOR (Philippine Amusement and Gaming Corporation) decision to formalize the iGaming supply chain. The introduction of the B2B Accreditation Framework in October 2025 forced game developers, aggregators, and payment providers to undergo formal probity checks, bringing the region in line with mature jurisdictions like the UK and Ontario.

Greece: Digital Transition

Greece’s ascent to 17th place was largely attributed to the performance of its largest operator, OPAP. The company reported double-digit growth in its iGaming and sports betting divisions throughout 2025, with online GGR surging nearly 20% in the first half of the year. This success underscores the Greek market’s successful transition from a retail-heavy model to a digital-first ecosystem.

“The global iGaming landscape is shifting faster than ever,” said Max Tesla, CEO and co-founder of Blask. “Operators that can spot emerging trends early, and understand what is actually driving interest on the ground, are far better positioned to capture new growth opportunities as they appear.”

The post Saudi Arabia, Greece, and the Philippines Lead iGaming’s Rising Markets in 2025 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.