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Better Collective reports organic revenue growth of 19% in Q1

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Better Collective establishes new Management Incentive Plan for management and key employees of Action Network
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Interim report January 1 – March 31, 2021

Highlights first quarter 2021

  • Q1 revenue grew by 86% to 38,836 tEUR (Q1 2020: 20,921 tEUR). Organic revenue growth was 19%. The revenue split was 61% from Publishing and 39% from Paid Media.
  • Q1 EBITDA before special items increased 46% to 13,193 tEUR (Q1 2020: 9,045 tEUR). The EBITDA-margin before special items was 34%. EBITDA-margin was 51% in Publishing and 7% in Paid Media. The margin in the Paid Media segment was significantly impacted by the switch from pure CPA to hybrid revenue models at a cost of approx. 2 mEUR. Excluding these impacts, the margin would have been 19%.
  • Cash Flow from operations before special items was 16,102 tEUR (Q1 2020: 9,451 tEUR), an increase of 70%. The cash conversion was 121% due to an improvement of debtors and other short debt. End of Q1, capital reserves stood at 50.1 mEUR including cash of 34.8 mEUR and unused bank credit facilities of 15.1 mEUR.
  • New Depositing Customers (NDCs) was around 180.000 in the quarter (increase of 54%) and is at an all time high.
  • Better Collective has increased its ownership to 90% of the shares in Mindway AI that specialises in software solutions based on artificial intelligence and neuroscience for identifying, preventing and intervening in at-risk and problem gambling.
  • Better Collective has strengthened its position in the Swedish sports betting market by acquiring online sports betting media platform, Rekatochklart.com for 3.8 mEUR.

Significant events after the closure of the period

  • April revenue reached a record 13.1 mEUR, a growth of 185% vs. 2020, of which 51% was organic growth. Organic growth in the Publishing segment was 87% against a weak comparison due to the significant effect on April 2020 by the halt in sports during the COVID lockdown. In the Paid Media segment, organic growth was 14% against a strong comparison, as the halt in sports meant an increase in casino (predominant in the acquired Atemi Group)
  • On May 3, 2021, Better Collective signed an agreement to acquire 100% of the shares in The Action Network, Inc. for 240 mUSD (198 mEUR) on a cash and debt free basis. With the acquisition of Action Network, Better Collective gains clear market leadership within sports betting media in the US and now expects to increase its revenues in the US to more than 100 mUSD by 2022.
  • In April, a payment of 1.2 mEUR in cash, and 0.9 mEUR in shares were made to complete the 2020 earn-out payment relating to the acquisition of HLTV.
  • Following the AGM on April 26, 2021, Therese Hillman was elected to the Board of Directors. Therese is a Swedish national born in 1980. She is the current CEO of NOD, and was until recently Group CEO of NetEnt, a premium game supplier to online casino operators and listed on Nasdaq Stockholm.

Financial targets 2021
The Board of Directors have decided on targets for the financial year 2021 as announced in the full year report. Following the acquisition of The Action Network and contingent on the closing of the transaction in Q2, 2021, the financial targets for 2021 are updated: Total group revenue is now expected to exceed 180 mEUR (previously more than 160 mEUR). Operational profit is now expected to exceed 55 mEUR (previously more than 50 mEUR). Total group organic growth is now expected to exceed 25% (previously more than 20%). See page 10 of the report for more detail.

Jesper Søgaard, Co-founder & CEO of Better Collective, commented: “Q1 was another strong quarter for us with significant revenue growth and an increase in the number of New Depositing Customers of more than 50%. We have continued to strengthen our global market position with the addition of Swedish sports betting media platform, Rekatochklart, and most recently, US sports betting media market leader, Action Network, while also increasing our ownership of Mindway AI to 90% to further expand our initiatives within responsible gambling. We are very pleased with these accomplishments.

eSports

LE MANS VIRTUAL SERIES BY MOTORSPORT GAMES GEARS UP FOR ROUND TWO ON OCTOBER 16, 2021

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LE MANS VIRTUAL SERIES BY MOTORSPORT GAMES GEARS UP FOR ROUND TWO ON OCTOBER 16, 2021
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After a thrilling 1ST round that saw more than 2.6 million impressions worldwide, the 2nd stage kicks off at 7:30 a.m. EDT on Saturday

Motorsport Games Inc. announced that after a thrilling 1st race, the stage is set for round 2 of the Le Mans Virtual Series, the 6 Hours of Spa Virtual, slated for October 16, 2021 at 07:30 a.m. EDT. Saturday’s race will feature 38 entries (entry list HERE). Le Mans Virtual Series is a joint venture between Motorsport Games — a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world — and the Automobile Club de l’Ouest (“ACO”) — the creators and organizers of the world-famous 24 Hours of Le Mans and promoter of the FIA World Endurance Championship (the “FIA WEC”).

The 2021-22 season of the Le Mans Virtual Series consists of 5 rounds, the 2nd of which is the 6 Hours of Spa Virtual. The 38 prototype and grand touring endurance entries will compete virtually on the infamous 7 kilometer Belgian circuit, including famous corners and bends such as Eau Rouge, Raidillon, Stavelot and La Source. The live broadcast will feature lead commentary by FIA WEC’s Duncan Vincent, together with Chris McCarthy and Lewis McGlade.

Round 2 of the Le Mans Virtual Series comes on the heels of a successful 1st round that saw more than 2.6 million impressions worldwide and a thrilling victory from Realteam Hydrogen Redline. The 1st round of the esports endurance racing championship was an action-packed and incident-filled 4 Hours of Monza on September 25, 2021. Monza’s more than 2.6 million impressions on official channels during race week alone set the stage for a wildly successful series. Viewers can expect even more thrills and excitement for this coming round! Realteam Hydrogen Redline’s drivers Dani Juncadella, Jeffrey Rietveld and Michal Smidl took 1st place overall, while GPX Rebellion Esports and team Floyd Bykolles-Burst finished in 2nd and 3rd place, respectively. Mitchell Dejong, Mack Bakkum and Martin Kronke from the Porsche Esports Team took the Le Mans Grand Touring Endurance honors in a class that featured no fewer than 5 different manufacturers represented.

The Le Mans Virtual Series brings together top-level, real-life drivers such as Jenson Button, Alex Palou, Stoffel Vandoorne, Louis Deletraz and a number of the world’s other best sim racers to compete together in 5 endurance races that range from 4 to 24 hours in duration. This year’s series will conclude with the 24 Hours of Le Mans Virtual, which will take place live and televised at the Autosport International (“ASI”) show in Birmingham, UK in January 2022.

 

Here is where you can follow all of the weekend’s action, live and uninterrupted:

Friday, October 15, 2021: (all times Eastern Daylight Time)

1:00 p.m.                           Qualifying show live (not available on WEC or 24 Hours of Le Mans channels)

1:10 p.m.– 1:30 p.m.       Qualifying GTE

1:40 p.m.– 2:00 p.m.       Qualifying LMP

Saturday, October 16, 2021:

04:00 a.m.– 6:00 a.m.     Warm up

7:30 a.m.                           Le Mans Virtual Series show live

8:00 a.m.                           6 Hours of Spa – RACE

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eSports

The venue for the official Russian-language broadcast of PGL Major Stockholm 2021 is announced

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The venue for the official Russian-language broadcast of PGL Major Stockholm 2021 is announced
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The Russian-speaking talent crew will broadcast the tournament from the WePlay Esports studio.

WePlay Esports will be the official Russian-speaking streamer of the tournament, in a deal brokered by IMG on behalf of PGL. The talent team and broadcasting studio will be working from the WePlay Esports studio.

WePlay Esports has experience in organizing analytics studios in-house: BLAST Premier: Fall Season 2021, the WePlay Academy League, WePlay! Clutch Island etc. are cases in point. The broadcast will be organized in accordance with the standards and best traditions of the company, matching the visual identity of the English-language broadcast from PGL. The studio is equipped with the latest technology, and the company is in the final stages of preparation for the broadcast, adding finishing touches to the graphics, augmented reality (AR) elements, and content.

“We are ready for any kind of challenge, even for broadcasting several tournaments from different venues simultaneously. Our studio and arena in Kyiv, Ukraine, and the arena in Los Angeles, the U.S., which will be opened soon, allow us to create high-quality engaging content, which the esports community appreciates a lot.I can say with confidence that the quality of the broadcast, its content, and the set-up will be on par with the level of the Major,” comments Maksym Bilonogov, chief visionary officer and general producer at WePlay Esports.

The main tournament of this year in Counter-Strike: Global Offensive (CS:GO), the PGL Major Stockholm 2021, will take place from October 26 to November 7. The PGL Major Stockholm 2021 will be the first CS:GO Major after a two-year break due to the pandemic. The total prize pool of the tournament is $2 million.

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BGaming upgraded Dig Dig Digger slot with new features!

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BGaming upgraded Dig Dig Digger slot with new features!
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BGaming continues improving its popular titles by adding new extra features! So, the Dig Dig Digger slot now offers players the opportunity to buy a bonus and double the chances!

In addition to the set of standard features, the new Buy Bonus feature allows players to start a Free spin round with Expanding symbols immediately. To make it more captivating, BGaming gives exclusive opportunity to choose the number of Expanding symbols they want: from 1 to 9! The other game’s novelty is Chance x2 feature that increases the bet and gives the player more chances to play bonus games. These two new bonuses cannot be used at the same time, however, each of them provides many opportunities for great winnings!

From release to release we analyze players’ preferences, and we see that it’s always a good idea to give players the opportunity to choose extra bonuses. We have already added buy bonus and double chance feature to Aloha King Elvis slot. We received great results! Our next step was to upgrade Dig Dig Digger. The slot which was launched in May shows good feedback from players!” noted Katherine Puteiko, CS Marketing Manager at BGaming. 

With HD graphics and a 5×3 scheme, Dig Dig Digger has a popular “book of” mechanics. Moreover, the charismatic and hilarious archeologist – the main character – сompletes spins with jokes and funny moments! By the way, every player can try on the role of the charming archaeologist on Instagram too. BGaming studio has prepared a Dig Dig Digger’s Instagram mask that you can find by searching for the name of the game or by following the link

Inspired by the story of funny Digger, BGaming team is going to launch the sequel of the slot. The release date of the new adventure will be announced later. 

 

BGaming is a creative and forward-thinking game provider converting gaming into gaming. Thanks to an expert team and a player-driven approach the studio creates innovative and engaging products featured on reputable platforms and 550+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 70+ products with HD graphics and a clear user interface for every device.

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