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Better Collective interim report January 1 – December 31, 2019

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Better Collective's nomination committee appointed
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Highlights fourth quarter 2019

  • Q4 Revenue grew by 61% to 19,579 tEUR (Q4 2018: 12,135 tEUR). Organic revenue growth was 24%.
  • Q4 EBITA before special items increased 32% to 7,117 tEUR (Q4 2018: 5,382 tEUR). The EBITA-margin before special items was 36% including an expected downwards impact of 4%-points from the acquired US-businesses. Excluding the impact from US, the EBITA-margin before special items was 40%.
  • Sports win margins were significantly lower than historic average. Compared to historic average, revenue and earnings were affected negatively by an estimated 2 mEUR in the quarter.
  • New Depositing Customers (NDCs) exceeded 118.000 in the quarter (growth of 55%, most of which organic). This established a new quarterly company record.
  • Bank financing with Nordea has been re-structured and Better Collective now has committed 3-year credit facilities of >80 mEUR with an extension option for one additional year.
  • A directed new share issue of 4 million shares raised cash proceeds to the Company of 30 mEUR (312 mSEK) before transaction costs.
  • Cash Flow from operations before special items was 7,532 tEUR (Q4 2018: 5,411 tEUR), an increase of 39%. The cash conversion was 96%. End of Q4, capital reserves stood at 90 mEUR consisting of net cash of 23 mEUR and unused bank credit facilities of 67 mEUR.
  • A new version of the flagship product bettingexpert.com was launched.

Financial highlights full year 2019

  • Revenue grew by 67% to 67,449 tEUR (YTD 2018:40,483 tEUR). Organic revenue growth was 26%.
  • EBITA before special items grew by 69% to 27,231 tEUR (YTD 2018: 16,072 tEUR). The EBITA-margin before special items was 40% (YTD 2018: 40%). Excluding the acquired US-business the EBITA-margin was 43%.
  • Cash Flow from operations before special items was 26,585 tEUR (YTD 2018: 15,158 tEUR), an increase of 75%. The cash conversion rate before special items was 91% (YTD 2018: 89%).
  • New Depositing Costumers (NDCs) exceeded 431,000 (growth of 66%).
  • Acquisitions completed in 2019 by Better Collective:
  • 60% of the shares in Rical LLC (RotoGrinders Network) were acquired for 18 mEUR (21 mUSD). Better Collective will acquire the remaining 40% of shares in the period 2022-24 and a contingent consideration of 26.7 mEUR is recorded.
  • Through the wholly-owned US subsidiary, the assets of Florida based Vegasinsider.com and Scoresandodds.com for a total transaction price of 18 mEUR (20 mUSD).
  • All shares in the company owning and operating the site mybettingsites.co.uk for up to 2.4 mEUR.
  • 19.99% of the shares in Mindway AI at 0.5 mEUR, who develops software solutions for the identification of at-risk and problem gambling behaviour.

Other significant events after the closure of the period

  • January trading update: Revenue of approximately 7.2 mEUR (growth of 48%, of which organic growth 30% compared to January 2019). The sports win margin in January was significantly higher than historical average.
  • Advanced negotiations for the potential acquisition of 100% of the shares in an e-sport company, who promotes and advertises sports betting operators, for up to 34 mEUR.
  • On January 23, 2020, Better Collective hosted the first edition of bookmaker awards starting in Greece with its Greek flagship product Betarades.gr.
  • Better Collective won the “Affiliate of the Year” at the EGR Nordics Awards 2020 and bettingexpert.com won the iGB Affiliate Award for Best Sports Betting Affiliate website.

Affiliate Industry

N1 Partners Group takes its projects to another level together with SOFTSWISS Jackpot Aggregator™

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N1 Partners Group takes its projects to another level together with SOFTSWISS Jackpot Aggregator™
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N1 Partners Group establishes a strategic collaboration with SOFTSWISS to carry out the integrated organization and management of jackpots for iGaming.

N1 Partners Group becomes the first client of the multi-purpose new solution – SOFTSWISS Jackpot Aggregator.

Solution SOFTSWISS Jackpot Aggregator opens up unique and truly inexhaustible opportunities in the iGaming industry. And I’m glad that the first client to use this product is N1 Partners Group. In our work, we always pay special attention to the innovation of the proposed solutions and the benefits they could give to our clients. We created and devised Jackpot Aggregator on the basis of our desire to develop the industry and make it more appealing to the audience. We believe in our innovative approach to become the gamechanger in the industry, and we’re bound on ensuring that our clients’ interests are met in full. N1 Partners Group has made an excellent choice to become our first client. After all, SOFTSWISS always offers only the best solutions for the growth and development of its customers’ and partners’ projects,” – comments Ivan Montik, Founder of SOFTSWISS.

Due to the unique opportunities for organization of jackpots, their management and the ability to toggle individual settings provided by the product, N1 Partners Group has the ability to combine any groups of players from all its projects into their own global jackpots.

Connecting SOFTSWISS Jackpot Aggregator has already increased gaming activity on N1 Partners Group projects and attracted a new audience of players.

“We believe that connection to SOFTSWISS Jackpot Aggregator takes our projects to the next level: players can participate in jackpot draws by playing their favorite online casino games. By improving projects, we focus on the interests and needs of the audience and follow the industry trends, thus increasing the uniqueness of our projects,” – notes Yaroslav Laptev, Chief Product Officer of N1 Partners Group.

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Affiliate Industry

B90 Holdings to Acquire Norwegian Sports-bet Affiliate Site Oddsen

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B90 Holdings has announced that it has entered into an agreement with Performance Media SIA to acquire certain assets, including the domain, business IP and 100% of the operations of Oddsen.nu, a Norwegian sports-bet affiliate site.

B90 also mentioned it had raised £1.24m through a subscription of 8,888,465 new ordinary shares of no-par value in the capital of the company with certain existing and new investors.

“The acquisition of Oddsen continues the transformation of our business. Coupled with the fundraise, which gives a strong indication of the support that our stakeholders have for our growth strategy, our business now has a real operational and financial platform from which to grow. This transaction adds a valuable new domain to our online real estate; increases our affiliate marketing capability; and takes our operations into Norway, which is an attractive, stable and well-established market for sports betting. We believe that the acquisition is an important step into owning proprietary software and taking control over valuable parts of the value chain in our industry. We consider it a strategic acquisition that can be used as a platform to be rolled out in other markets as well,” Paul Duffen, Executive Chairman of B90 Holdings, said.

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Affiliate Industry

Spotlight Sports Group Expands Global Proposition To Include Innovative Publisher Solutions

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Spotlight Sports Group Expands Global Proposition To Include Innovative Publisher Solutions
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SSG adds Publisher Solutions products to its global proposition to meet the needs of the emerging opportunities within the media landscape

Spotlight Sports Group (SSG), a technology, content and media company specialising in sports betting and fantasy sports, has announced its expanded B2B product portfolio. The addition of Publisher Solutions reflects Spotlight Sports Group’s ongoing work with media owners and aligns with its recently launched US proposition.

The new suite of products ranges from easy-to-integrate betting widgets to fully managed affiliate solutions that are designed to deliver actionable content to drive engagement and incremental revenues. The new solutions utilise state-of-the-art modular affiliate technology and leverage Spotlight Sports Group’s unique heritage in creating industry-leading sports betting media.

The catalyst for new product development follows research from Nielson that 55% of sports fans declare an interest in sports betting. With some traditional digital revenue streams approaching maturity, media companies can use Spotlight Sports Group’s Publisher Solutions as a viable route to accelerate revenue growth.

The suite of products contains a range of services from affiliate management to content creation, to performance tracking and analysis, all of which is managed by Spotlight Sports Group. This allows media companies to simply plug in the unique solutions to their platforms in up to 70 languages.

Discussing the new-look offering and website, Spotlight Sports Group’s Head of Digital B2B Will Fyler said: “We are ready to expand our global value proposition, especially given the recent acquisition of Alarm Sports Network. As well as a global website refresh to reflect our growing proposition, we are delighted to present a range of new products such as our Turnkey Affiliate Solutions, Smart Widgets and Free-To-Play games that cater for media companies globally.”

Fyler added, “Sports fans are interested in sports betting and, given the global growth of betting, there is a significant opportunity for media publishers to provide their sports audiences with great content and products while also increasing revenues.

We also know that providing betting-related content and products effectively is labour intensive and difficult. However, as a media company operating Racing Post among other brands, we are in a fortunate position that over the last 30 years we have built up the range of skills to achieve this and so we can now offer bespoke Publisher Solutions tailored to any media company’s audience.”

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