Latest News
Better Collective reports record-breaking Q4 and full year of 2022
Interim report October 1 – December 31, 2022.
Regulatory release no. 06/2023
Flash Highlights Q4 2022
- Revenue: 86.1 mEUR; growth of 63% YOY, organic growth 44%
- Recurring revenue: 41.3 mEUR; growth of 94% YOY
- Revenue share income: 30.2 mEUR; growth of 81% YOY
- EBITDA before special items: 35.2 mEUR; growth of 115% YOY; margin 41%
- New Depositing Customers: All time high with >580.000; growth 117% of which 78% were sent on revenue share contracts
- January trading update: Record breaking month with revenue of >37 mEUR; >40% YOY growth
Flash Highlights 2022
- Revenue: 269.3 mEUR; growth of 52% YOY, organic growth 34%
- Recurring revenue: 123.3 mEUR; growth of 54% YOY
- Revenue share income: 96.4m EUR; growth of 42% YOY
- EBITDA before special items: 85.1 mEUR; growth of 53% YOY; margin 32%
- New Depositing Customers: All time high at >1.680.000; growth 96% of which 76% were sent on revenue share contracts
- Earnings per share (EPS) increased >150% YOY
Highlights Q4 2022
- Financial targets for 2022 were 20-30% organic revenue growth, operational earnings of approximately 85 mEUR and net debt to EBITDA <3. On February 6, a guidance upgrade was released as 34% organic revenue growth was achieved, with 85.1 mEUR in EBITDA before special items and a net debt to EBITDA <3.
- Q4 Group revenue grew by 63% to 86.1 mEUR with recurring revenues growing 94% to 41.3 mEUR; organic revenue growth was 44%.
- Europe & ROW revenue grew 59% to 52.2 mEUR driven by an extraordinary strong performance with the men’s soccer World Cup where >300.000 NDCs were sent from the tournament alone and saw a good underlying business performance from Paid Media and media partnerships.
- US revenue grew 71% to 33.9 mEUR driven by a busy sports calendar and a successful Maryland state launch.
- The sports win margin continued to bounce back as the impacted European markets normalized as well as the sports wagering continued at all-time highs.
- Q4 Group EBITDA before special items grew 115% YOY to 35.2 mEUR.
- Europe & ROW delivered 20.7 mEUR in EBITDA before special items, which equals growth of 149% YOY and a margin of 40%.
- The US delivered 14.5 mEUR, in EBITDA before special items implying 81% growth and a margin of 43%.
- Cash flow from operations before special items was 21.0 mEUR an increase of 55%. The cash conversion before special items was 58% due to the extraordinarily high revenue in the quarter. During the quarter >11 mEUR were paid in taxes, of which 10.7 mEUR were paid in Denmark. By the end of 2022, capital reserves stood at 76 mEUR of which cash of 31 mEUR and unused bank credit facilities of 44 mEUR.
- New depositing customers broke all time high records with >580,000 in the quarter; growth of 117%. NDCs sent on revenue share contracts were 78%. During 2022 the Group delivered 1.7 million NDCs.
- Initiation of a share buyback program for up to 5 mEUR. The purpose of the buyback program was to cover future payments relating to completed acquisitions and LTI programs.
- Petra Zackrisson was appointed as SVP of Growth and joined the management team.
Significant events after the closure of the period
- The positive momentum from 2022 continued into January 2023, which posted record breaking monthly revenue of >37 mEUR, >40% YOY growth. The main driver was the Ohio state launch, and the growth comes on top of a strong comparison from last year where New York state launched.
- New media partnerships with Goal.com and Wirtualna Polska. Globally, Better Collective has several large partnerships like the ones with The Telegraph and The New York Post, as well as many smaller partnerships.
- On January 20, 2023, the share buyback program of 5 mEUR was completed with 394,645 shares accumulated under the program. In total Better Collective owns 1.1% of all outstanding shares.
- The board has decided to initiate a new share buyback program of 10 mEUR. The purpose of the buyback program is to cover future payments relating to completed acquisitions and LTI programs.
- A smaller asset deal for a sports media in an emerging market was completed for 4.3 mUSD with an upfront payment of 3 mUSD.
- Better Collective announced a share acquisition in Catena Media equaling 6,093,381 shares and a position of 8.5%.
- Esport community, HLTV, successfully hosted its annual HLTV Award Show 2022 in Stockholm for Counter Strike:Global Offensive.
- The board of directors implemented a 2023 Long Term Incentive (LTI) Plan for key employees in the Better Collective Group. Grants under the 2023 LTI will be in the form of performance share units and/or share options that are vesting after three years.
- The Better Collective HQ in Copenhagen will move ‘around the corner’ to a new and bigger office space. The leasing agreement runs for five years and has total rent obligation of approximately 12 mEUR during that period.
- The two founders of Better Collective, Jesper Søgaard and Christian Kirk Rasmussen were awarded with a lifetime achievement award at the iGB Affiliate Awards.
Financial targets 2023
The board of directors has decided on new financial targets for the Better Collective Group for 2023:
- Revenue in the range of 290-300 mEUR.
- EBITDA before special items of 90-100 mEUR.
- Net debt to EBITDA before special items of <2.
Better Collective invests in growing organically and will take one-off costs for 2023 investments to establish a stronger presence in LATAM and other emerging markets where regulation is or is expected to facilitate operations. An investment in the buildup of a proprietary technology platform for display advertising (“Adtech Platform”) will be made. The initiatives imply estimated 10 mEUR in added costs in 2023 in addition to the existing cost base. The Group will continue to push for revenue share in the US, and notes that the 2023 calendar is not as condensed as 2022’s with state launches and a men’s soccer World Cup. The above considerations have been built into the 2023 targets, and do not include impact from M&A activities.
CEO Letter
Q4 was a record-breaking quarter during which we benefited from our strong diversification, while we also cemented the synergies that can be achieved when combining efforts across the group.
Record breaking performance
During the year, it has been exciting to see how efforts to become the Leading Digital Sports Media Group are starting to materialize. Our sport communities have proved to be attractive “go-to-places” for millions of sports fans while also being strategically attractive for our business partners. Furthermore, I am humbled by the spirit of our employees, who delivered an amazing performance – a performance that resulted in an upgrade of our financial targets, which we set out in the beginning of 2022.
The Group delivered strongly both in terms of revenue growth as well as operational earnings. This performance was accomplished on the back of moving several US contracts from upfront payments (CPA) to revenue share, why implicitly the Group could have delivered an EBITDA of 100 mEUR, implying 80% growth. Undeniably, the ability to drive high profitable growth remains very important for Better Collective’s future ambitions.
Outstanding performance during the men’s soccer World Cup
The men’s soccer World Cup was a strong driver for us, during which we saw extremely high activity that exceeded our expectations. We started preparing for the World Cup many months ahead, which we benefited from across geographies. In the previous CEO letter, I expressed my excitement about having delivered + 1.1 million NDCs from Q1 to Q3. Therefore, I am even more proud to announce that with Q4 we brought this close to 1,7 million NDCs for 2022. Of the approximately 1.7 m NDCs, 76% were sent on revenue share contracts and out of Q4’s 580,000 NDCs, around 300,000 were delivered during the men’s World Cup. To put it into perspective, the 300,000 is more than the last four men’s World Cups and four men’s European Championships combined. When comparing to the men’s World Cup 2018, our key figures have increased tenfold; a true testament to how far we have come in just four years.
During the past decade, we have worked closely with our main business partners – mostly on revenue share contracts, from which Better Collective solely benefits if we manage to create long-term value for our partners. Consequently, we have accumulated a large “snowball” of revenue share accounts, which really came into play during the men’s World Cup, as our revenue share income broke all records with 30 mEUR for the quarter. This record was also made possible as the sports win margin continued to normalize. It is worth noting that sending 300,000 NDCs during the men’s World Cup has had a short-term dampening effect on our performance because many NDCs were sent on revenue share contracts. However, as stated many times over, this move brings a long-term benefit and builds for the future. Given this effect, it is even more outstanding that we still managed to surpass our organic revenue target.
2022 US revenue exceeded 100 mUSD
In connection with the 2021 acquisition of Action Network, the leading US sports betting media, we estimated that we could exceed 100 mUSD in US revenue by the end of 2022. At the time of acquisition, it was very ambitious as Action Network was a newer established business with many market uncertainties ahead – but as you may know Better Collective is built on ambition and strong visions. During Q4, our US business grew revenue 71% YOY to a record high 34 mEUR bringing total 2022 US revenues above the 100 mUSD mark. This is reached even with us having moved 15 mUSD – up from the estimated >10 mUSD in Q3 – from upfront payment (CPA) based contracts to revenue share.
2022 US revenue grew 102% YOY and it is worth mentioning that this growth comes on top of the 370% growth from 2020-2021. I am proud to see great results have been delivered in the US, despite having to navigate the Group through the changing climate, where sportsbooks shifted focus from growth to profitability. The performance was driven by all our US-based sports media as well as the launch of New York and Maryland, combined with a strong Paid Media performance. Let me comment further on our Paid Media business, as it really has taken off.
Amazing Paid Media performance
In 2020, we made a strategic investment into Paid Media by acquiring the Atemi Group, which specializes within the paid advertising space of the major search engines and social media platforms. This acquisition has turned out to be a great financial investment for Better Collective and brings synergies on multiple levels.
Firstly, Paid Media brings flexibility and scalability when entering new markets and during special sporting events like the recent men’s World Cup.
Secondly, this business provides deep insights into the improvement on our organic rankings in major search engines, insights into which keywords provide the best value as well as click through and conversion rate benchmarks.
Thirdly, we invest heavily in business intelligence as Paid Media comes with deep insights into the return on investment, as well as insights into market potential prior to making an investment, which is crucial for our decision-making process and long-term strategy planning.
Lastly, after acquiring Atemi, efforts were put into moving many of our CPA contracts to revenue share in our Paid Media business, which has turned out to be a very important investment. The move had a short-term dampening effect throughout 2021, where profitability slowed as we built for the future. We have now created a self-accelerating effect of stable revenue share income, which expectedly will grow larger over time. Consequently, the Paid Media business will have a larger pool of revenue to tap into when investing in advertising – which will continue to accelerate the revenue share “snowball” we are accumulating and grow the margin long-term.
Paid Media delivered strong growth of 94%, and with operations on a global scale, we have invested heavily in specific geographies during Q4, where we foresee that the return on investment will be the highest. Due to the massive topline growth, the Q4 Paid Media margin ended at all-time-high of 23%. The Paid Media performance is another indicator of the strength of having a large “revenue share ball” building up. The main contributors to the all-time-high Paid Media margin were the large pool of revenue share income that continues to fill, and solid CPA income in the US. As the US continues to move towards revenue share, we expect a lower CPA income to be mitigated by a larger revenue share “snow-ball”.
Despite having an extremely successful World Cup in terms of securing many NDCs, the tournament had a short-term dampening effect on the Group as well as the Paid Media margin due to extraordinarily high numbers of NDCs sent on revenue share contracts. Therefore, it is arguably even more impressive that we delivered a 23% Paid Media margin, while reaching our 85 mEUR Group EBITDA target. When we acquired the Atemi Group, the Paid Media business was in its mere infancy, and it now has been raised into its youth. We still have plenty of schooling to do to bring it to maturity – but we are ready for the journey! We will dive more into these developments at our Capital Markets Day on March 23, 2023.
Looking ahead
After the overwhelmingly good start to January, I look forward even more to 2023. January was boosted by the Ohio launch – giving us our best month ever – with revenues of >37 mEUR – implying growth of >40%, despite tough comparisons to the New York launch in January 2022, where we doubled the revenue from 2021. This year will expectedly have fewer large single events than 2022, with the main ones being the summer women’s World Cup in Australia and New Zealand, and the launch of sports betting in Massachusetts. We will continue our growth efforts in LATAM and keep an eye out for new market opportunities. We remain largely unaffected by the macroeconomic environment but will persistently monitor developments. Lastly, we will keep focusing on gearing our business for the future, which – among others – includes investing in a new AdTech platform and moving more US revenue to revenue share contracts – all of which is included in our 2023 guidance. I would like to round off another great year by thanking all my dedicated colleagues and partners – without you we would not be where we are today.
Jesper Søgaard
Co-Founder & CEO
Compliance Updates
Football Season Kicks Off: Arizona Department of Gaming Warns of Gambling Scams and Highlights Consumer Protection Tools

September is Responsible Gaming Education Month, and the Department is reminding fans to play it safe with tools like Check Your Bet, self-exclusion, and the 1-800-NEXT-STEP helpline.
With the football season underway, the Arizona Department of Gaming (“the Department”) is warning Arizonans about the growing risks of unlicensed online casinos and sportsbooks. September also marks Responsible Gaming Education Month, making this an important time to remind fans that if you choose to play, play it safe by choosing a regulated operator.
Regulated gaming offers important consumer protections, helping ensure fair play, data security, accountability, and a safer overall experience. The Department has seen an increase in consumer complaints about unlicensed gambling operations in recent months, a trend expected to intensify as football season kicks off and the busiest event wagering period of the year begins. Common issues include unfair or misleading terms, difficulty withdrawing winnings, and accounts being frozen without explanation, often after a withdrawal request.
“Responsible Gaming Education Month is the perfect time to remind Arizonans that while legal, regulated gaming options are available to all Arizonans ages 21+, there are also deceptive operators eager to take advantage of fans during football season,” said Jackie Johnson, Director of the Arizona Department of Gaming. “Unregulated platforms lack responsible gaming safeguards, age verification, and offer no consumer protections, which puts Arizonans at risk. That’s why the Department is promoting resources to give every Arizonan the tools they need to make informed choices and play responsibly.”
To help protect Arizonans, the Department has launched a new Responsible Gaming website and is spotlighting three key resources this month:
- Check Your Bet– If you choose to participate in gaming, opting for legal, regulated operators is the best way to protect yourself. Playing responsibly means knowing your operator is licensed and that you meet Arizona’s legal gaming age of 21+. This online resource helps Arizonans confirm they’re using a legal site, which helps protect against fraud, identity theft, and other risks.
- Self-Exclusion Program– A free, confidential program that allows people to voluntarily limit their access to Arizona’s regulated gaming. The statewide self-exclusion program was established in 2004 for casinos and expanded in 2021 to include retail sportsbooks, event wagering platforms, and fantasy sports platforms. More than 550 Arizonans enrolled in the last fiscal year, and over 11,000 have chosen this option since the program began.
- 1-800-NEXT-STEP – A confidential, 24/7 helpline for anyone seeking support right now, whether for themselves or someone they care about. The helpline connects Arizonans with caring professionals who can provide immediate assistance, low and no-cost treatment referrals, and financial counseling.
These resources, along with more tips and tools, are available at the Department’s new webpage: gaming.az.gov/ResponsibleGaming.
Top 5 Signs of an Unlicensed Gambling Site
The Department urges Arizonans to be cautious and watch for these warning signs that a site or app may be fraudulent or unlicensed:
- No Responsible Gaming Protections – Licensed operators are required to provide responsible gaming tools, including age verification to ensure no one under the age of 21 can play, deposit limits, time limits, self-exclusion options, and access to the 1-800-NEXT-STEP helpline. If you don’t see these tools, it’s a red flag.
- Too-Good-to-Be-True Offers – Promises of “guaranteed wins,” oversized bonuses, or “risk-free” bets are common scam tactics.
- Trouble Getting Paid and No Dispute Resolution – Unregulated sites often delay or deny withdrawals, with little to no process for resolving disputes.
- Unusual Payment Methods – Sites that only accept cryptocurrency, wire transfers, or gift cards instead of secure, standard payment options are a major warning sign.
- Copycat Branding or Poor Site Quality – Some fraudulent sites impersonate legitimate Arizona casinos or sportsbooks, using misspellings, broken links, or look-alike names to trick players into downloading their app or visiting their site.
“Licensed operators in Arizona are required to provide responsible gaming safeguards. When people play on unregulated sites, those protections are missing and people are more vulnerable,” said Elise Mikkelson, Director of the Division of Problem Gambling. “That’s why Arizona’s helpline exists: to ensure every Arizonan has access to the support they need. With more than 11,000 Arizonans choosing to enroll in the state’s self-exclusion program since it began, it’s clear that no one is alone in taking steps to protect themselves. And if you or someone you know is struggling, help is always available.”
How to Report Suspicious Gambling Activity, Fraud, or Identity Theft:
Arizonans who believe they may have encountered an unlicensed or suspicious gambling site are encouraged to report it directly to the Arizona Department of Gaming. Reports help the Department investigate and take action to protect consumers statewide. If you find a website, app, or business that claims to offer legal gaming in Arizona but does not appear to be licensed or authorized by the Department, follow these steps:
- Document the website URL, app, business name, and any promotional materialsassociated with the platform or operator.
- Report itto ADG at [email protected] and the Arizona Attorney General’s Office Consumer Information and Complaints Unit at (602) 542-5763 or by visiting azag.gov/consumer.
- Cease activity on the platform and monitor financial accounts for unauthorized transactions.
- If you suspect identity theft, report it to the Federal Trade Commission (“FTC”): for help in English, go to IdentityTheft.gov, and for help in Spanish, go to RobodeIdentidad.gov.
The Department takes complaints about all illegal gambling seriously. Reports can be made anonymously.
The post Football Season Kicks Off: Arizona Department of Gaming Warns of Gambling Scams and Highlights Consumer Protection Tools appeared first on Gaming and Gambling Industry in the Americas.
Latest News
BMM INNOVATION GROUP KICKS OFF 2025-2026 WORLD TOUR AT GLOBAL GAMING EXPO IN LAS VEGAS OCTOBER 6-9 AT THE VENETIAN EXPO

BMM Innovation Group (“BIG”, the “BIG Group”, or “the Company”), a technology conglomerate focused on product compliance testing, training, and cybersecurity solutions for the global gaming industry, today announced its participation in the Global Gaming Expo (“G2E”), October 6-9 at the Venetian Expo in Las Vegas.
Marking the first stop on BIG’s 2025–2026 World Tour, all the BIG Group brands — BMM Testlabs, BIG Cyber, and RG24seven Virtual Training — will be represented at the show, highlighting the Company’s trusted global expertise.
BMM Innovation Group Chairman and Chief Executive Officer Martin Storm said, “G2E is an important gaming event and the place to begin our 2025–2026 World Tour. BIG represents the full spectrum of gaming support, from compliance and cybersecurity to training. Our message is simple: select the BMM Innovation Group to be your partner in every gaming market.”
BMM Testlabs, the world’s original and longest-established gaming independent testing and certification lab, will highlight its 44 years of leadership in product compliance, helping land-based and digital suppliers and operators reduce risk and fast-track market access.
BIG Cyber, the BIG Group’s cybersecurity arm, will highlight its full suite of managed and professional services, including SOC monitoring, penetration testing, vulnerability assessments, and PCI:DSS evaluations. These solutions are designed to protect gaming companies, strengthen defenses, and help improve cyber-resilience.
RG24seven Virtual Training offers expert-led compliance-grade virtual training to gaming employees worldwide through a host of courses focused on responsible gaming, compliance, sports betting, anti-money laundering, human trafficking awareness, and much more. G2E attendees can find RG24seven Virtual Training in their dedicated G2E Booth No. 1600, where training experts will offer demonstrations of its industry-leading virtual training solutions.
Together, the BIG companies reinforce the BIG Group’s mission and vision to transform gambling industry compliance and protect all who gamble.
The BMM Innovation Group invites G2E attendees to schedule meetings at the show with its global business development leaders and experts in compliance, cybersecurity, and virtual training at worldtour.bmm.com.
The post BMM INNOVATION GROUP KICKS OFF 2025-2026 WORLD TOUR AT GLOBAL GAMING EXPO IN LAS VEGAS OCTOBER 6-9 AT THE VENETIAN EXPO appeared first on Gaming and Gambling Industry in the Americas.
Gambling in the USA
Gaming Americas Weekly Roundup – September 8-15

Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
IGT announced that its much-anticipated Wheel of Fortune Big Money Spin electronic table game (ETG) recently made its world debut at Downtown Grand Casino in Las Vegas, Nev. The vibrant standalone ETG game includes many of the attributes that have propelled the success of the Wheel of Fortune slots franchise for nearly three decades including word puzzles, wheel spins and exciting jackpot rewards. The game is accompanied by an attention-grabbing, 9-plus-feet upright video wheel that stands independent of the ETG terminals and entertains casino guests with the famous “WHEEL-OF-FORTUNE!” chant.
MGM Resorts International has announced that Corey Sanders, Chief Operating Officer, will retire from the company after more than 30 years of dedicated service and leadership. Sanders has agreed to remain COO through Dec. 31, 2025, and to serve as an advisor to the President and CEO through Dec. 31, 2026. The Company intends to name a new COO to serve as Sanders’ successor later this month. Sanders is currently MGM Resorts’ Chief Operating Officer, overseeing the company’s Las Vegas and regional properties as well as multiple corporate departments, including Hospitality, Gaming, Human Resources and Strategic Initiatives. Prior to that, he served as the company’s Chief Financial Officer and Treasurer.
Members of Kletsel Dehe Wintun Nation, the Sherwood Valley Rancheria of Pomo Indians, the Mechoopda Indian Tribe of Chico Rancheria and Big Lagoon Rancheria gathered outside the State Capitol in Sacramento to protest Assembly Bill 831 (AB 831). If passed, the bill would limit economic opportunities available to less wealthy tribes in the state by banning legitimate online social games using sweepstakes promotions. It would also eliminate more than $1 billion of existing economic activity generated by the industry in California, and close off a potential new revenue source for the state via sensible, modern regulation and taxation.
Partnerships
Genius Sports Limited has expanded its long-term partnership with Hard Rock Bet Sportsbook (Hard Rock Bet) to power the top-rated platform with its market-leading official data, trading and marketing solutions, as well as its ground-breaking BetVision product. Genius Sports has worked in partnership with the leading operator since 2021, providing the highest quality official data and pinpoint trading solutions across top tier leagues globally, including the Premier League, Serie A, European Leagues, Liga MX, NFL and more. Hard Rock Bet will be able to provide its customers with Genius Sports’ first-of-its-kind BetVision low latency streaming solution.
Quick Custom Intelligence (QCI), a leading provider of data-driven casino intelligence and player engagement platforms, has announced that Dania Beach Casino is continuing to benefit from its deployment of the QCI Nimble platform. While the property currently focuses on the QCI Host and QCI Marketing modules, it has expressed enthusiasm about the capabilities of the new AGI56 release and its impact on future customer engagement strategies. AGI56 represents the most ambitious release in QCI’s history, with the platform undergoing a full refresh of its technology stack, improved integration of advanced analytics, and the introduction of generative AI-driven tooling through Chatalytics.com. QCI’s platform is currently deployed in more than 350 casinos worldwide.
The post Gaming Americas Weekly Roundup – September 8-15 appeared first on European Gaming Industry News.
-
gaming3 years ago
ODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory9 years ago
iSoftBet continues to grow with new release Forest Mania
-
News8 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News7 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry8 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News7 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry8 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News7 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018