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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. “

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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MixRift Appoints Former Meta VP Ingrid Cotoros to Board of Advisors to Accelerate Mixed Reality Gaming Innovation

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Innovative mixed reality gaming developer strengthens leadership team with hardware technology veteran behind Quest 3, Ray-Ban Meta glasses, and Orion AR prototype
MixRift, an innovative mixed reality (MR) gaming developer, today announced the appointment of Dr. Ingrid Cotoros as a key member of its Board of Advisors.
Cotoros brings over 20 years of hardware engineering expertise from her leadership roles at Meta’s Reality Labs and GoPro, where she spearheaded the development of breakthrough technologies that powered the world’s most advanced VR, AR, and smart glasses products.
As the former VP of Technology Engineering for Devices at Meta’s Reality Labs, Cotoros founded and led a thousand-strong team of specialised technologists who delivered the hardware innovations behind Meta’s Quest Pro, Quest 3, Quest 3S VR headsets, Ray-Ban Meta smart glasses, and the cutting-edge Orion AR glasses prototype. Her technical contributions span depth perception systems, immersive audio experiences, and world-locked display technologies that have shaped the mixed reality landscape since 2020.
“The future of gaming lies in creating unique experiences that blend digital and physical worlds,” said Dr. Cotoros. “MixRift’s vision for mixed reality gaming represents the next evolution of how we interact with digital content, and I’m excited to help them bring truly immersive experiences to players.”
Cotoros’ appointment aligns perfectly with MixRift’s ambitious technology roadmap, and reflects MixRift’s commitment to staying at the forefront of technological innovation in gaming.
“Ingrid’s deep understanding of hardware capabilities and sensing technologies complements our founding team’s vision beautifully,” said Bobby Voicu, CEO of MixRift. “Her experience developing the technologies that power every major VR and AR device launched in recent years gives us invaluable insight into what’s possible today and what’s coming next. We’re basically talking about someone who’s been at the forefront of every breakthrough that’s made our industry possible.”
During her tenure at Meta, Cotoros championed the strategic sequencing of features to engage customers in AI-powered computing platforms. Prior to Meta, she led multiple first-to-market innovations at GoPro, including the development of the first consumer-grade high-definition spherical camera and professional-level panoramic stereo capture systems.
Cotoros will focus her advisory efforts on understanding the physical capabilities of emerging device platforms and how they can unlock new interaction modes and experiences for gamers. A physicist by training with a PhD in Condensed Matter Physics from UC Berkeley and a BS in Physics from Caltech, Cotoros holds 26 US patents in camera hardware and content processing. Her diverse technical background reflects the interdisciplinary approach needed to solve complex mixed reality challenges.
Before her consumer electronics career, Cotoros served as a rocket scientist and space systems engineer at Lockheed Martin, developing space applications and defense programs. She was twice selected for Romania’s national team at the International Physics Olympiad, demonstrating her early passion for pushing the boundaries of what’s technically possible.
Meta Connect 2025 Meeting Opportunities
MixRift CEO Bobby Voicu will be attending Meta Connect 2025 (September 17-18, Menlo Park) and is available for media briefings about MixRift’s mixed reality gaming roadmap and strategic vision. With the company’s recent advisory board expansion bringing deep hardware expertise from Meta’s Reality Labs, Bobby can discuss how MixRift is leveraging insider knowledge of upcoming device capabilities to build next-generation gaming experiences. He’ll be sharing exclusive previews of MixRift’s upcoming titles and discussing how the company is positioning itself at the intersection of advanced hardware and innovative game design.

The post MixRift Appoints Former Meta VP Ingrid Cotoros to Board of Advisors to Accelerate Mixed Reality Gaming Innovation appeared first on European Gaming Industry News.

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Getting to Know Incline Gaming Marketing with Chief Commercial Officer Jo Dennis

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Incline Gaming Marketing is redefining how gambling brands scale and succeed worldwide. Founded by industry veteran Peter Laverick, the agency delivers end-to-end digital marketing services across user acquisition, CRM, and creative. In this interview, CCO Jo Dennis explains how Incline acts as an extension of operators’ in-house teams, helping them acquire players, boost retention, and compete globally.

 

Incline Gaming Marketing. Tells us what we need to know about the business.

Incline Gaming Marketing (Incline) is a full-service digital marketing partner dedicated exclusively to the regulated gambling industry. We’re not just a supplier of campaigns or assets, we run marketing operations end-to-end for our partners, functioning as an extension of their in-house team.

Our expertise spans user acquisition, CRM, and creative, delivered by specialists who’ve worked inside top operators and suppliers. With offices in San Francisco, Philadelphia, and London, we provide market-specific strategies and execution for brands in North America, Europe, Africa, Australia, and beyond.

Founded by industry veteran Peter Laverick in 2020, Incline is part of The Conexus Group alongside Pentasia (recruitment) and Partis (strategy and M&A). Our partners range from household-name operators to ambitious new entrants, all looking for a team that can step in, own the process, and deliver measurable results from day one.

 

Who are the main players running the business day to day?

Peter Laverick, our CEO and founder, has led marketing at some of the industry’s biggest names, including BetVictor, Aristocrat, and PlayStudios. Chief Commercial Officer Jo Dennis joined through our acquisition of Random Colour Animal in 2024 (RCA was originally founded in 2018) and brings more than 25 years in brand and marketing strategy.

Chief Marketing Officer Oren Langburt has over 15 years’ experience in real-money gaming, including leading marketing at FanDuel. VP Partner Success Haig Sakouyan is a 20+ year industry veteran, ensuring our partnerships deliver beyond marketing.

 

Talk us through Incline Gaming Marketing’s core service offering.

We operate in three connected disciplines that together form a complete managed marketing service:

  • User Acquisition (UA): We plan, execute, and optimise campaigns across Meta, Google, TikTok, Snapchat, Apple, and programmatic networks, managing multi-million-dollar budgets. As an approved Facebook Business Partner, we’ve been rated the most effective media buyer in North America’s online gaming sector, achieving a 99.9% efficiency score.
  • Customer Relationship Marketing (CRM): Our CRM specialists handle the full player lifecycle — from onboarding and first-time deposit conversion to long-term retention and reactivation. We combine data-led segmentation with targeted offers and creative to grow lifetime value while controlling bonus spend.
  • Creative: We produce more than 1,000 assets per month, from brand identities and websites to broadcast-quality TV spots, slot game creatives, supplier content packs, and conference materials. All creative is performance-driven and integrated into UA and CRM campaigns for maximum impact.

When combined, these services allow us to act as a partner’s complete marketing department – – strategy, execution, and optimisation under one roof.

 

Which markets are you focused on? Are you pushing into any new regions?

We built our reputation in North America, where we work with leading land-based and online operators across casino, sportsbook, lottery, social gaming, and daily fantasy sports. We now deliver integrated managed services in Canada, the UK, continental Europe, Africa, and Australia, tailoring each approach to local regulations, player behaviours, and market dynamics.

For many partners, this means we handle all marketing in new markets from day one – avoiding the time and cost of building a local team – and then continue as their long-term, embedded marketing function.

 

Why are your services particularly valuable to operators in the current industry climate?

Player acquisition costs are rising, retention is harder than ever, and regulatory pressure is mounting. Building and managing an in-house team with the full range of skills required – from media buying to lifecycle marketing to creative production – is expensive and slow.

Incline solves that. We provide an instant, proven marketing department with deep gambling expertise, multi-channel capabilities, and global reach. Our managed services model means we don’t just advise, we execute, optimise, and deliver results. Whether launching in a new jurisdiction or scaling in a mature one, we know the levers to pull for sustainable growth.

 

What can we expect from Incline in the second half of the year?

We’re deepening our presence in Europe, Africa, and Canada while cementing our leadership in North America. Several major launches and brand refresh projects are underway, alongside scaled acquisition and retention campaigns for our long-term partners.

Our focus remains the same — provide operators and suppliers with a high-performing, fully managed marketing function that delivers measurable results faster, and with more certainty, than building it in-house.

 

The post Getting to Know Incline Gaming Marketing with Chief Commercial Officer Jo Dennis appeared first on Gaming and Gambling Industry in the Americas.

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BMM Innovation Group to Spotlight Product Compliance, Cybersecurity, and Training Expertise at CGS Recife in Brazil This Week

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BMM Innovation Group (“BIG,” “BIG Group,” “BMM,” or the “Company”), a technology conglomerate focused on product compliance testing, training, and cybersecurity solutions, will participate in the CGS Recife show on August 21–22 at the Recife Expo Center in Recife, Brazil.

On Thursday, August 21, from 12-12:25 p.m., Marzia Turrini, BMM Testlabs’ President, iGaming & Cybersecurity, will deliver a keynote address on “Cybersecurity & Compliance: Safeguarding Operational Integrity in iGaming’s New Digital Era.” Turrini, named Latin America ‘Leader of the Year’ at the SBC Awards Americas earlier this year, will deliver a presentation that will cover how operators and suppliers can integrate robust cybersecurity measures with strong compliance practices to protect revenue, reputation, and regulatory relationships.

BMM Testlabs has a long-standing commitment to supporting the growth and integrity of Brazil’s evolving gaming industry. As a trusted partner to regulators, suppliers, operators, and industry stakeholders, BMM works closely with regulatory bodies and state lotteries to ensure technical compliance, transparency, and responsible gaming.

With a test lab and office in São Paulo backed by BMM’s years of experience serving the Latin American market, the Company offers local knowledge and support combined with global expertise. The digital and land-based services and solutions that BMM can provide in Brazil include product testing and certification, inspections, field audits, technical evaluations, and advanced cybersecurity solutions through BIG Cyber. BMM also provides compliance-grade expert-led training on responsible gaming, AML, human trafficking awareness, fraud prevention and detection, and many other topics through RG24seven Virtual Training.

Turrini said, “Brazil is one of the most exciting gaming markets in the world, and BMM is proud to be part of its growth story. At CGS Recife, we’ll demonstrate how trusted product compliance, paired with cybersecurity and virtual training tailored for the gaming industry, can protect operations, build player trust, and strengthen the market. With our new São Paulo test lab and dedicated Brazil team, we’re committed to providing regulators, suppliers, and operators with the local expertise and global strength they need to succeed.”

The post BMM Innovation Group to Spotlight Product Compliance, Cybersecurity, and Training Expertise at CGS Recife in Brazil This Week appeared first on Gaming and Gambling Industry in the Americas.

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