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NEWS 8 May 2019

NDC performance boosts Better Collective Q1 revenue

By Matthew Enderby

Better Collective grew its revenue 97% year-on-year to €14.9m ($16.6m) for Q1, with organic growth of 41%.

The affiliate attributed this increase to performances in the newly-depositing customers (NDC) sector, which grew 147% to exceed 116,000.  

Q1 EBITA before special items increased 212% to €6.5m and the EBITA margin before special items was 44%. Special items relating to M & A activities were €87,000.

Earnings per share more than doubled to €0.09 per share.

Within the quarter, Better Collective established two new subsidiaries in the UK and Poland to organise increased local activities.

Jesper Søgaard, CEO of Better Collective, said: We now see the effect of the strong NDC intake throughout 2018, which even accelerated further to record levels in the first quarter of 2019.

“Revenue almost doubled including a strong organic growth of 41% and operational earnings tripled compared to the same period in 2018.”  

Looking ahead, Søgaard emphasized the importance of US opportunity, and said it will continue to guide activities in 2019.

He highlighted Pennsylvania as a key state for operations, as the state plans to open online casino in July, while sports betting could be online later this month.

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