Published
Financial

Better Collective sees revenue rise 7% for Q3

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

bettercollective

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.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Evolution
Crown Resorts
Relax Gaming
Gaming and Leisure Properties
Follow Us

Facing Facts: Analysing figures from emerging gambling markets

Where is the gambling market on the rise, and are there any...

Taking Stock: A guide to lottery/iLottery operator and supplier prices

Gambling Insider tracks lottery/iLottery operator and suppli...

New Horizons Cover Feature: United Arab Emirates

With its first land-based casino set to open in 2027 and a n...

New Horizons Cover Feature: Brazil

Brazil performed quite the feat by getting its heavily delay...

The best of Malta at the Global Gaming Awards

Powered by Gambling Insider, the Global Gaming Awards are th...

Preview: SiGMA Malta 2024

A place in the winter sun: SiGMA returns to the home of iGa...

Company profile: Soft2Bet

Bill 55: Advantages and challenges for Maltese operators in...

Company profile: DS Virtual Gaming

DS Virtual Gaming is a leader in the gaming industry, utilis...