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Better Collective reports record revenue; strong growth in US business and media partnerships

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Better Collective: Nomination committee Proposal to the Annual General Meeting 2022
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Interim report January 1 – June 30, 2021

Highlights second quarter 2021

  • Q2 Group revenue grew by 162% to 40,009 tEUR (Q2 2020: 15,253 tEUR). Organic revenue growth was 47%.
  • The US business performed strongly, even before inclusion of Action Network, by recording NDC performance and revenue on par with a strong Q1 2021, despite Q2 being low season.
  • Q2 Group EBITDA before special items increased 90% to 12,662 tEUR (Q2 2020: 6,672 tEUR). The EBITDA-margin before special items was 32% (Publishing segment 43% and Paid Media segment 11%).
  • Special items include cost related to the acquisition of Action Network of 5.3 mEUR.
  • Cash Flow from operations before special items was 11,069 tEUR (Q2 2020: 10,363 tEUR), an increase of 7%. The cash conversion was 93% following a 121% conversion rate in Q1. End of Q2, capital reserves stood at 69 mEUR including cash of 40 mEUR and unused bank credit facilities of 29 mEUR.
  • New Depositing Customers (NDCs) were 197,000 in the quarter with an implied growth of 179%, establishing a new quarterly record.
  • Media partnerships saw breakthrough performance delivering more than 38,000 NDCs. Three new media partnerships were signed.
  • Earn-out payments of 1.2 mEUR in cash and 0.9 mEUR in shares were made in relation to the 2020-acquisition of HLTV and its achievement of pre-agreed financial performance.
  • At the AGM, Therese Hillman, CEO of NOD and former Group CEO of NetEnt, was elected to the board of directors.
  • Better Collective acquired leading US sports betting media platform, Action Network, for 196 mEUR (240 mUSD), gaining market leadership within sports betting media in the US.
  • Better Collective resolved on a directed share issue of 6.9 million shares, raising proceeds of 145 mEUR to maintain financial flexibility.
  • For the fourth consecutive year, Better Collective topped the prestigious EGR Global’s Power Affiliates 2021 ranking.

Financial highlights first six months 2021

  • In the first half of 2021, revenue grew by 118% to 78,845 tEUR (YTD 2020: 36,174 tEUR).
  • In the first half of 2021, EBITDA before special items increased 64% to 25,855 tEUR (YTD 2020: 15,718 tEUR). The EBITDA-margin before special items was 33%.
  • Cash Flow from operations before special items was 27,171 tEUR (YTD 2020: 19,814 tEUR), an increase of 37%. The cash conversion rate before special items was 107%. At the end of Q2 2021, cash and unused credit facilities amounted to 69 mEUR.
  • New Depositing Customers (NDCs) exceeded 371,000 in the first half year (growth of 99%).

Significant events after the closure of the period

  • July revenue reached 12.4 mEUR, more than double of July 2020, with an organic growth of 13%. July 2021 revenue was negatively impacted by an extraordinarily low sports win margin, especially in connection with the finalisation of EURO2020. This should be seen in the light of a comparison month of July 2020, which was positively impacted by the rescheduling of sports events due to COVID-19 and an above average sports win margin.

Financial targets
The full-year financial targets remain unchanged.

Jesper Søgaard, Co-founder & CEO of Better Collective, commented:
Q2 marks yet a record quarter in terms of revenue and NDCs delivered to our partners. 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”

Conference call
A telephone conference will be held at 10.00 a.m. CET today by CEO Jesper Søgaard and CFO Flemming Pedersen. The presentation will simultaneously be webcasted, and both the telephone conference and the webcast offer an opportunity to ask questions.

Affiliate Industry

Bojoko doubles down in the US and Canada

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Bojoko doubles down in the US and Canada
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Award-winning gambling affiliate launches dedicated .us and .ca domains as part of efforts to deliver a truly localised user experience

Bojoko, the award-winning online gambling affiliate brand, has launched dedicated sites for players in the US and Canada under .us and .ca domains as it continues to work towards its goal of becoming the leading affiliate in North America.

Bojoko.us and Bojoko.ca have been completely redeveloped under the hood so that they provide players with accurate and up to date information about each of the online casino brands available to them in specific states and provinces across the US and Canada.

This allows Bojoko to offer a truly localised product to players across both markets. This includes expertly written content that covers everything players need to know about online casino in the US and Canada, as well as a selection of powerful filtering tools to help them find the best brands.

Bojoko has also rolled out its “double layer” testing and review process for all of the casinos listed in the US and Canada. Each brand is put through its paces by Bojoko’s team of independent testers who sign up, deposit and play at each casino before leaving feedback on the experience they receive.

This is combined with player reviews and ratings so that Bojoko members know exactly what to expect before they sign up and play at any of the casinos it lists.

Joonas Karhu from Bojoko, said: “Canada and the US are two of the largest online casino markets in the world and we wanted to offer players a truly localised version of Bojoko to help them learn more about online casino and find the brands that meet their preferences the most.

“We realised the only way to do this was to launch dedicated domains for the US and Canada. This was a significant undertaking, and certainly from a technical perspective, but our team has overcome all challenges faced and we now offer a superior user experience as a result.

“We have already gained great traction in both the US and Canada and now look forward to driving even more growth with our dedicated domains.”

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Affiliate Industry

Spike Up partners with no-code innovation platform Flows

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Spike Up partners with no-code innovation platform Flows
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Spike Up, one of the world’s leading affiliate networks and performance marketing businesses, has today signed an agreement with the industries agnostic, plugin no-code innovation platform, Flows. Flows will allow Spike Up to create and deliver new features and applications at speed and further enhance their ability to maximise the return for operators, while continuing to tailor the experience for consumers.

Spike Up has an impressive portfolio of informative websites including US facing lines.com which helps users make informed decisions about their next move and closed-loop analytics then ensure their leads convert. Data-driven in the relentless pursuit of increased ROI, Spike Up uses cutting edge technology to elevate the online experience for players and accelerate results for casino and sports operators. As leaders in the iGaming industry, Spike Up is well placed to analyse customer preferences, employ sophisticated performance marketing techniques, and offer businesses real-time measurement of ROI, all with that one goal in mind, to secure business growth and profitability.

Flows is built to be one of the most agnostic pieces of software on the market, that is able to sit alongside any other piece of technology that you have or use to then enable its partners to innovate freely and without constraint. Flows, plug-in no-code platform is supporting businesses in accelerating development, fast tracking integrations and co-ordinating multiple data points in a single interface

Eric Ames, CEO of Spike Up, said: “We’re really looking forward to integrating Flows into our systems – with so many possibilities the hardest part is figuring out where to start.”

James King, CEO at Flows, said: “We’re over the moon to have partnered with Spike Up and be able to support them as they continue to strengthen their leading position in the market. The team at Spike Up have a host of great ideas to execute through Flows and we’re very excited to work with them on these.

It’s a continued reflection of the awesome work put in by our team at Flows, to now be able to count one of the worlds leading affiliate networks as a client so early on in our journey. This opportunity really highlights the multitude of use cases and therefore potential business types, from suppliers and operators through to affiliates that can really utilise our no code platform. We’ve got more innovation in our roadmap and I’m looking forward to announcing both new product extensions for Flows as well as new clients in the coming months”

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Affiliate Industry

Winning Partner and Bojoko renew partnership ahead of new “Oink Bingo” launch date

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Bojoko doubles down in the US and Canada
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Online bingo & casino whitelabel operator Winning Partner and casino comparison site Bojoko are joining forces once again to promote the launch of Oink Bingo, a brand new bingo and slots site launching Monday, June 6th 2022.

Winning Partner is an iGaming operator that has a large and varied catalogue of 13 whitelabel bingo, slots & casino sites and offers a hand-crafted affiliate platform for its business partners. Owned by Traffic Label Ltd, Winning Partner has successfully re-launched a number of sites since 2021, including 333 Casino, Rich Ride and Miami Jackpots.

Bojoko is one of the top casino comparison sites available online, offering independent reviews for online casino, slot and bingo sites that help players make the right choice. What sets Bojoko apart from the competition is that it verifies casinos by testing them with real money deposits and withdrawals. The site also allows users to personalise their preferences, so that only the most relevant sites are shown.

The two businesses had previously teamed up to successfully promote BB Casino, one of Winning Partner’s whitelabel offerings, with a positive outcome for both parties. Now, with the imminent launch of Oink Bingo, Winning Partner and Bojoko are working together again.

Oink Bingo is a brand new online bingo and slot site running on the Dragonfish network, that is set to open its doors to players this coming Monday, 6th June 2022. Oink Bingo previously existed under the ownership of Lindar Media, and closed in 2019. However, Winning Partner and Traffic Label have re-tooled the site for this 2022 launch with a brand new design, featuring new logos, iconography & colours, plus a fresh suite of bingo and slot games.

Bohdan Saranchuk, Affiliate Manager for Winning Partner, said “We’ve been preparing for the launch of Oink Bingo for a long time. Our players will be delighted to experience what we have prepared for them. So, I am really excited to kick off and finally launch the brand.”

On the partnership with Bojoko, Bohdan said: “We’ve been working with Bojoko for a significant amount of time, so we understand how professional they are. We are happy to work with a partner whose trust among users is indeed unquestionable.”

Christoffer Ødegården, Head of Casino for Bojoko had the following to say: “We have been working with Winning Partner for a long time now, and have consistently been impressed by their professionalism and support. We are particularly happy with our partnership for BB Casino, which has proven to be extremely popular with our users. We are very excited to see how a new and upcoming brand like Oink Bingo will be received by our audience.”

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