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Better Collective Interim report January 1 – December 31, 2020

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4 years ago

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Reading Time: 3 minutes

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.

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

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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REEVO Welcomes MEGAFAIR to its Growing Aggregation Network

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11 minutes ago

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July 9, 2025

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REEVO, the leading B2B games aggregator known for its innovation in the iGaming ecosystem, has announced a strategic partnership with MEGAFAIR, an emerging pioneer in next-gen gaming experiences. This collaboration marks a significant step forward in REEVO’s mission to deliver high-quality content to operators and players worldwide.

MEGAFAIR has carved a distinct identity in the industry by blending traditional game mechanics with engaging and visually captivating experiences. Now, through REEVO’s best-in-class aggregation platform, MEGAFAIR’s portfolio of high-quality, competitive games will be available to a global audience, instantly accessible via a single API integration.

This partnership expands MEGAFAIR’s content distribution while offering REEVO partners access to a differentiated product category that’s capturing the attention of a new generation of iGamers.

Yan Shif, Co-founder and CEO of MEGAFAIR, said: “It’s not just hype, it’s a truly new level for our team. Partnering with REEVO is a game-changer for MEGAFAIR. Their unparalleled aggregation capabilities and commitment to operator success perfectly align with our vision. This alliance will not only enhance the delivery of our top-tier games, but also enable us to leverage REEVO’s advanced promotional tools to boost player engagement, satisfaction, and retention.”

His statement highlights the strong synergy between both companies and the shared benefits operators can expect from this collaboration.

Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with MEGAFAIR adds a bold and refreshing edge to the REEVO content universe. Their fusion of innovation, entertainment, and quality is exactly what today’s iGaming landscape demands. We’re excited to integrate their titles into our platform and look forward to introducing this dynamic new offering to our operator network. This is just the beginning, our partners should stay tuned for what’s next.”

The post REEVO Welcomes MEGAFAIR to its Growing Aggregation Network appeared first on European Gaming Industry News.

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Balkan's

BFU and Elitbet Extend Their Partnership Until 2028

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11 minutes ago

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July 9, 2025

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The Bulgarian Football Union and the company ELITBET, which has been the official sponsor of the Third League since last summer, have reached an agreement to extend their partnership. The new contract is until 2028, the official website of the BFU announced. Thus, the third echelon will continue to bear the name ELITBET Third League, and both parties expressed their satisfaction with the continued cooperation between them.

“We are happy to support amateur football in Bulgaria and will continue to do so in the future. In this one year since the beginning of our partnership with the Bulgarian Football Union, we have managed to promote the league by creating quality digital content. We have plans to make this product even more attractive,” said Dani Nikolova, Marketing Director of ELITBET.

“The Third League is one of the main elements of the football ecosystem in our country and is of key importance for the development of the game in the different regions of the country. We are glad that in the person of ELITBET we have a solid partner who invests in amateur football,” said the president of the Amateur Football League and member of the Executive Committee of the Bulgarian Football Union Rumyan Valkov.

The post BFU and Elitbet Extend Their Partnership Until 2028 appeared first on European Gaming Industry News.

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Compliance Updates

KSA Imposes Penalty Payment Order on Influencer Leftlanepapi

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11 minutes ago

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July 9, 2025

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The Netherlands Gambling Authority (KSA) has imposed a first penalty payment order on YouTube influencer LeftlanePapi for promoting illegal gambling.

The YouTube channel LeftlanePapi showed videos with live streams of online gambling from illegal providers. The illegal providers were also actively advertised, by encouraging viewers to also play there. The KSA issued a warning to the influencer. Because the content in question was not removed after the warning and new streams were made, the KSA imposed a penalty. Existing content must be removed and no new advertising may be made. If this does happen, the influencer will receive a penalty of €25,000 per violation, with a maximum of €75,000.

With its new approach, the KSA opts for a two-track policy. After establishing a violation, influencers receive a message that they must stop their activities within 48 hours and that illegal content must be removed. If the influencer does not do so, the KSA approaches the social media platform so that the harmful content is removed in any case. The influencer is given a penalty under penalty of a fine, as was also the case with Leftlanepapi. The KSA has now warned several influencers.

The post KSA Imposes Penalty Payment Order on Influencer Leftlanepapi appeared first on European Gaming Industry News.

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