Better Collective Q2 revenue up 64% as affiliate strengthens footing in US
Revenue at Better Collective rose 64% year-on-year for Q2 to €9.6m ($10.7m), bringing the total for the first half of the year to €30.7m, up 79%.
Organic revenue growth was 18%, which Better Collective attributes to a “strong newly depositing customer (NDC) performance in recent quarters.”
Q2 EBITA before special items increased 77% to €6.7m, while cash flow from operations before special items was $6.6m, also up 77%.
The affiliate reported NDCs exceeded 111,000, a growth of 60%.
In Q2, the affiliate completed the acquisition of 60% of the RotoGrinders Network for $21m, with the remaining shares to be purchased between 2022 and 2024.
Better Collective was given approval by the New Jersey Division of Gaming Enforcement to work on partnerships based on revenue-share models in the state.
It also completed the acquisition of the assets of Florida-based Vegasinsider.com and Scoresandodds.com for a total price of $20m.
Jesper Søgaard, CEO of Better Collective, said: “With the execution of two US acquisitions and a media partnership, Better Collective has firmly established its presence in the emerging US sports betting market.
“The US operation is likely the biggest growth driver in the years to come.”
For the first six months of the year, Better Collective saw organic revenue rise 28% year-on-year.
EBITA before special items rose 124% to €13m and cash flow from operations before special items increased 127% to €14.1m.
The affiliate saw NDCs rise 95% to 228,000 and it established new offices in the US, UK and Poland.
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