Published
FinancialSports Betting

Better Collective reports 162% increase in Q2 revenue

Better Collective has reported revenue of €40m ($47m) for the second quarter of 2021, a 162% increase from the prior-year period.

giaq ofmnd

EBITDA grew 90% to €12.7m, with cash flow from operations increasing by 7% to €11.1m. New Depositing Customers (NDCs) were 197,000 for the period, a quarterly record growth of 179%.

The company signed three new media partnerships, while Therese Hillman, CEO of NOD and former Group CEO of NetEnt, was elected to the board of directors at the AGM.

For the first six months of 2021, Better Collective reported revenue of €78.8m, a 118% increase from the prior-year period. EBITDA increased by 64% to €25.9m, while cash flow from operations increased by 37% to €27.2m.

NDCs for the period exceeded 371,000, a growth of 99%.

The group added that July revenue reached €12.4m, more than double of the prior-year period, while its full-year financial targets remain unchanged.

“Q2 marks yet a record quarter in terms of revenue and NDCs delivered to our partners,” said Better Collective Co-founder and CEO Jesper Søgaard. “At the same time, we continue to record strong profitability and cash flows.

“The strong performance is especially driven by the US business, and by our media partnerships that saw breakthrough performance during Q2. The peak of the quarter was the closing of our largest acquisition to date, Action Network, which is a game changer and consolidates our leading sports betting media position in the US.”

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...