better collective advances us profile following strong h1 2019 resultsby Joker 14.08.2019 0 comments
Stockholm-listed affiliate marketing publisher Better Collective AB has declared that its boost in exposure across the US market has put the company in ‘pole position for market leadership’ as explained in its Q2 interim report.
Publishing its Q2 2019 trading update (period ending 31 June 2019), Better Collective has reported a 64% increase in revenues up to €15.8m (£14.7m) which is a jump from the €9.7m reported in Q2 2018.
The growth, according to Better Collective, ‘was supported by the strong NDC-performance in recent quarters’, with the number of new depositing customers reported to be exceeding 111,000 in the quarter, demonstrating a growth of 60%.
Detailing corporate highlights. Better Collective governance attributes its acquisition of Swedish sports publisher Ribacka Group (effective from the start of 2019) as a having secured the firm a ‘top three position’ within the reregulated Swedish online gambling marketplace.
Expanding in Sweden, Better Collective details confidence in long term growth within a marketplace that is proving difficult for online gambling incumbents to adjust to new regulatory conditions.
Commenting on the results, Better Collective CEO Jesper Søgaard said: “Growth in Q2 was strong compared to the same quarter last year, even with tough comparison to last year with the World Cup in football as a big revenue driver.”
“We continue to see the effect of the strong NDC intake throughout 2018 and in the beginning of 2019. Revenue grew by 64%, including organic growth of 18% and operational earnings almost doubled compared to the same period in 2018.”
EBITDA has jumped from €3.88m in Q2 2018 up to €6.96m in Q2 2019, with figures for the year to date equating to €13.6m.
Acquisition activity has played a significant role in boosting figures for Better Collective also, as the group notably purchased a 60% share in the RotoGrinders Network earlier this quarter with further plans to acquire the remaining 40%.
Søgaard added: “Better Collective has had US-focused products up and running for some time, leading to revenue streams from online sports betting since last year. Building a presence and taking part in this new big market opportunity was boosted by the acquisition of the RotoGrinders Network in Q2, adding strong products and dedicated people with insight into the US market.
“After the end of Q2, we acquired two US market-leading sports betting brands; VegasInsider.com and ScoresandOdds.com. These two websites have since many years been the platforms preferred by millions of visitors and have the potential of becoming the largest revenue-generating assets in Better Collective in coming years. Furthermore, they have significant synergy effects with other US-facing assets, not least with the Rotogrinders Network.
“I am confident that we, by way of these acquisitions, have put Better Collective in pole position for a market-leading position in the US states where online sports betting will be regulated and available.”