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Better Collective Interim report January 1 – December 31, 2020


Highlights fourth quarter 2020
- Q4 Revenue increased by 88% to 36,714 tEUR (Q4 2019: 19,579 tEUR). Organic growth was 32%. Revenue doubled from Q3 2020.
- Q4 EBITA before special items increased 92% to 13,670 tEUR (Q4 2019: 7,117 tEUR). The group EBITA-margin before special items was 37%. EBITA-margin was 52% in Publishing and 13% in Paid Media. In Q4, significant costs were added in Paid Media to shift the business model towards revenue share and new market openings.
- Earnings per share (EPS) increased by 143% to 0.18 EUR/share (Q4 2019: 0.07 EUR/share)
- Cash Flow from operations before special items was 10,148 tEUR (Q4 2019: 7,532 tEUR), an increase of 35%. The cash conversion was 71%. End of Q4, capital reserves were 43 mEUR consisting of cash of 28 mEUR and unused bank credit facilities of 15 mEUR.
- New Depositing Customers (NDCs) was above 153,000 in the quarter, a growth of 30%.
- Better Collective acquired the Atemi Group for 44 mEUR on October 1 and has completed a successful integration. Atemi Group is one of the World’s largest companies specialised in lead generation for iGaming through paid media and social media advertising. The acquisition is a major strategic move for Better Collective with significant synergistic opportunities.
Financial highlights full year 2020
- Revenue grew by 35% to 91,186 tEUR (FY 2019: 67,449 tEUR), with organic growth of 8%.
- EBITA before special items increased 34% to 36,604 tEUR (FY 2019: 27,231 tEUR). The EBITA-margin before special items was 40%.
- Cash Flow from operations before special items was 38,321 tEUR (FY 2019: 26,585 tEUR), an increase of 44%. Cash conversion rate before special items was 99%.
- Earnings per share (EPS) increased by 46% to 0.47 EUR/share (2019: 0.32 EUR/ share)
- New Depositing Customers (NDCs) exceeded 437,000 in 2020, similar to 2019. Performance was maintained despite the cancellation and postponement of major sports events due to the Covid-19 pandemic.
- During 2020, Better Collective completed acquisitions of approximately 80 mEUR:
- In March 2020, Better Collective established a strong position within the esports betting market through the acquisition of HLTV.org ApS. The purchase price was agreed at up to 34.5 mEUR on a cash and debt free basis.
- In October 2020, the acquisition of The Atemi Group was completed for 44 mEUR.
- In November 2020, the smaller acquisitions of Irishracing.com and Zagranie. com were completed for just above 1 mEUR.
- COVID-19 had a significant impact from the last part of Q1 as the pandemic set a halt on major sports events and thereby also online sports betting. Q2 was the most affected until some of the major sports in Europe resumed in June. In Q3, sports calendars were still affected with amended and reduced tournament formats, whereas Q4 has been largely back on track.
Significant events after the closure of the period
- January revenue reached 13 mEUR, a growth of 78% vs. 2020, of which 16% was organic growth. The organic growth was recorded despite a strong comparison towards January 2020 and was partly driven by the US business where total revenue in local currency almost doubled. In revenue from the affilliate business from sportsbetting and casino, the growth exceeded 200%.
- On January 1, 2021, Better Collective exercised its option to acquire a further 70% of the shares in Mindway AI for a total price of 2.3 mEUR (17 mDKK), bringing the ownership to 90%. Mindway AI specialises in software solutions based on artificial intelligence and neuroscience for identifying, preventing, and intervening in at-risk and problem gambling.
Financial targets 2021
With the expiration of the 2018-2020 targets and the introduction of segment reporting, the Board of Directors have decided on new targets for the financial year 2021: Revenue >160 mEUR, EBITDA >50 mEUR, Organic growth >20%, Net interest bearing debt/EBITDA <3.0. See page 13 of the report for more detail.
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.
Dial in details for participants:
Confirmation Code: 6573033
Denmark: +45 32 72 04 17
Sweden: +46 (0)8 56618467
United Kingdom: +44 (0)8444819752
Webcast link https://edge.media-server.com/mmc/p/msczk4rq
Jesper Søgaard, CEO of Better Collective, commented: “Looking back at an unusual year, I am pleased to see that our business has proven resilient and I am proud that we come out strong on performance. We have entered 2021 in great shape and are well-positioned for an eventful 2021”

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63 suspicious betting alerts reported by IBIA in Q1 2025
The International Betting Integrity Association (IBIA) reported 63 alerts of suspicious betting to the relevant authorities in the first quarter (Q1) of 2025. The Q1 2025 total is 3% less than the 65 alerts in Q4 2024, and 11% more when compared to the revised Q1 2024 total of 57 alerts. IBIA monitors over $300bn per annum in betting turnover (handle) across more than 80 members with over 140 sports betting brands globally.
The 63 incidents of suspicious betting in Q1 2025 concerned six sports, across 23 countries and 5 continents. Other key data for Q1 2025 includes:
- Football and tennis accounted for 40 of the Q1 2025 alerts (64%), a 14% increase from 35 alerts in Q4 2024.
- Sporting events in Europe and North America, with 32 alerts combined, made up 51% of the total reported; that was a decrease of 29% compared to 45 alerts in Q4 2024.
- Table tennis saw a notably reduction in alerts from 21 reported in Q4 2024 to 9 reported in Q1 2025, representing a 53% quarter-on-quarter fall.
Khalid Ali, CEO of IBIA, said: “The first quarter of 2025 was relatively consistent with the previous quarter and the comparable period last year. Football and tennis remain the most reported sports, albeit their combined Q1 2025 number was down 14% on Q4 2024. This quarter-on-quarter reduction was primarily due to a fall in tennis alerts, which have shown a welcome reduction in recent years. The Q4 2024 increase in table tennis alerts has not continued into Q1 2025 and has fallen back to previous levels. IBIA has taken increased precautions regarding this sport and agreed a number of new integrity partnerships and protocols in Q1 with the aim of detecting and sanctioning corrupt betting activity.”
IBIA is a leading not-for-profit dedicated to protecting the integrity of regulated sports betting markets worldwide. Its global monitoring network serves as a powerful anti-corruption tool, identifying and reporting suspicious betting activity. In late 2024, IBIA further strengthened its capabilities with a major technological upgrade, significantly enhancing its ability to detect and respond to potential match-fixing across its members’ markets.
The post 63 suspicious betting alerts reported by IBIA in Q1 2025 appeared first on European Gaming Industry News.
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Fujitsu names Sammi Abdulla as Business Development Manager for iGaming
Fujitsu, the leading provider of infrastructure and platform solutions to businesses in the global online gambling industry and beyond, has named Sammi Abdulla as Business Development Manager for iGaming.
Sammi is a highly experienced business development manager, having held roles at major companies both inside and outside of the industry. Most recently, he was Business Development Manager at media powerhouse, Next.io.
As Business Development Manager at Fujitsu, Sammi has been tasked with driving the company’s expansion within the global online gambling industry, building meaningful relationships, understanding the unique demands of the sector and aligning Fujitsu’s solutions with client needs.
This includes delivering tailored platform and infrastructure solutions such as compute, storage and hybrid cloud. Sammi will also consult on technical requirements and compliance standards and support clients in driving digital transformation initiatives that improve scalability, uptime and security.
Over the coming months, his priority will be to engage with key stakeholders across the industry, demonstrate how Fujitsu’s technology can add real value and help clients to strengthen and futureproof their operations via scalable, secure and reliable infrastructure.
Nick McDonald, iGaming Account Director at Fujitsu, said: “Sammi is one of the most experienced Business Development Managers in the sector with a proven track record at renowned organisations both in and out of the industry. We are delighted to be able to leverage this as we look to strengthen our position in the market.
“Fujitsu’s platform and infrastructure solutions set the standard for others to follow, and with Sammi on board, we can make more operators and suppliers aware of our suite of products and how they can help them future proof their operations.
“This is a significant hire for Fujitsu, and I look forward to working closely with Sammi in the weeks, months and years to come.”
Sammi Abdulla, Business Development Manager for iGaming at Fujitsu, added: “I’m thrilled to have joined Fujitsu and to be diving even deeper into the iGaming world, a space I have good knowledge of and feel passionate about.
“With Fujitsu’s powerful tech behind us, I’m excited to help our clients level up their infrastructure, stay ahead of the game and maybe even have a little bit of fun while we do it.
“I’m also looking forward to working with the incredible Fujitsu team, which has already made me feel incredibly welcome.”
The post Fujitsu names Sammi Abdulla as Business Development Manager for iGaming appeared first on European Gaming Industry News.
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HÖLLE GAMES STRIKE IT RICH WITH SIERRA NUGGETS
“Sierra Nuggets” goes live today, a new 243-ways slot from Hölle Games. Evoking the spirit of the Californian gold rush in the 1800s, it features the kind of symbols you’d expect – Pickaxes, Dynamite, Gold Nuggets, and of course, a roguish Miner.
Players can get a real gold rush in the game via the Free Spins which come loaded with special Golden Nuggets. Just one Nugget will pay anywhere on the reels in free spins and award players from 1x up to an astounding 1000x EACH! Now that’s the motherlode!
Impatient players can buy the feature immediately via 10, 15 or 20 Free Spins, or else opt to double their stake with the Stake Booster feature which increases the chances to enter the free rounds.
The game is now available in MGA regions with Sweden, Romanian, Netherlands, Switzerland and others coming soon.
The post HÖLLE GAMES STRIKE IT RICH WITH SIERRA NUGGETS appeared first on European Gaming Industry News.
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