Better Collective sees revenue rise 7% for Q3

By Violeta Prockyte

Better Collective has posted €18.3m ($21.6m) in revenue for Q3 2020, a 7% year-on-year growth.

Net profit was €4.9m, an annual increase from €3.3m. Operational earnings (EBITA) before special items was €8m, an 18% increase.

Net financial costs for the quarter were €126,000, against €614,000 in Q3 2019. The number of new depositing customers rose 13% to 97,000. 

CEO Jesper Søgaard said: “Q3 showed strong underlying performance on most KPIs measured in our revenue share accounts, as sports wagering was at a record high, as were the number of bets placed and active sports users.” 

On 1 October, the group completed the acquisition of Atemi Group for €44m, which was “a major strategic move for Better Collective with significant synergistic opportunities.”

On 2 November, the group also acquired zagranie.com, a Polish sports betting media brand. 

Revenue for the first nine months was €54.5m, a 14% increase from 2019. Net profit for the period was €13.5m against €10.1m last year. 

The affiliate's revenue did suffer from the impact COVID-19 had on sporting events. The group stated revenue was negatively impacted by €2m in Q3 due to low sports win margin. 

Søgaard said that if the remainder of the year and 2021 was filled with sporting events, “we believe we are well-positioned to take our part of a global market that is getting back on the growth track.”

TAGS:

Share This Post


NEWS SPONSOR

More News

After a second period of COVID-19 forced closures, French casinos are set to reopen their doors from 15 December, according to trade union Casinos de France. France has been in its second...




Gambling Insider speaks with Ocean Casino Resort CEO Terry Glebocki and AGS CEO David Lopez about