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Better Collective highlights fourth quarter 2018

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  • Q4 Revenue grew by 30% to 12,135 tEUR (Q4 2017: 9,368 tEUR). As expected, organic revenue declined 9%, following the record-breaking Q4 in 2017. Major accounts showed approx. 40% lower commission rate than Q4 2017 influenced mainly by sports results and strong growth in NDCs, as sign-up bonus on new NDCs is offset against revenue share on existing depositors. All other relevant internal KPIs showed strong underlying organic growth (i.e. NDCs, player deposits and sports betting turnover).
  • Q4 EBITA before special items increased 51% to 5,382 tEUR (Q4 2017: 3,556 tEUR). The EBITA-margin before special items increased from 43% in Q3 to 44%. Special items were -114 tEUR, resulting in an EBITA after special items of 5,268 tEUR.
  • Cash Flow from operations before special items was 5,411 tEUR (Q4 2017: 2,717 tEUR), an increase of 99%. The cash conversion rate adjusted for special items was 97%.
  • NDCs grew 91% to more than 76,000 in the quarter (Q4 2017: 40,000).
  • On December 21, 2018, Ribacka Group AB, one of the leading Swedish sports Betting affiliates, was acquired at a price of 31 mEUR, including Net Working Capital. The acquisition will be included in the profit and loss from January 1, 2019.
  • Better Collective’s bettingexpert.com Tipster API won Best Affiliate Product
  • Innovation at SBC Awards 2018.

Financial highlights full year 2018

  • In the full year of 2018, revenue grew by 54% to 40,483 tEUR (full year 2017: 26,257 tEUR). Organic revenue growth was 9%.
  • In the full year of 2018, EBITA before special items increased 47% to 16,072 tEUR (full year 2017: 10,934 tEUR). The EBITA-margin before special items was 40% for the full year, resulting from 40% in Q2, growing to 43% in Q3, and 44% in Q4. Special items (IPO and M&A costs) were -4,080 tEUR, resulting in an EBITA after special items of 11,992 tEUR.
  • Cash Flow from operations before special items was 15,158 tEUR (full year 2017: 9,492 tEUR), an increase of 60%. The cash conversion rate before special items was 89%.
  • End of 2018, cash and unused credit facilities amounted to 51 mEUR.
  • NDCs exceeded 260,000 (growth of 123%).
  • The Net interest bearing debt to EBITDA before special items ratio was 1.37

Conference call

A telephone conference will be held at 10.00 a.m. CET today, February 19, 2019, by CEO Jesper Søgaard and CFO Flemming Pedersen.

Dial in details for participants:

Confirmation Code:        4277806

Denmark:                         +45 32 72 80 42

Sweden:                            +46 (0)8 50692180

United Kingdom:             +44 (0)8445718892

Webcast link

The webcast can also be accessed from www.bettercollective.com and the presentation will be available from 9.00 a.m. CET.

Jesper Søgaard, CEO of Better Collective, commented: In Q4, we continued to deliver significant growth. However, when comparing to the extraordinarily strong Q4 2017, organic revenue declined as expected. This is explained by the volatility that we face in our line of business, where the timing and results of big sport events plus our strong NDC growth have a direct impact on revenue. For the full year 2018, we are in line with our expectations, and we are well prepared for 2019.”

 

About Better Collective:

Better Collective’s vision is to empower iGamers through transparency and technology – this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes more than 2,000+ websites and products. This includes  bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory, and SmartBets, the odds comparison platform made personal.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Better Collective highlights fourth quarter 2018

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Playtech Announces New Partnership with Progress Play

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Playtech has announced a new long-term partnership with Progress Play, selecting Playtech as their exclusive Bingo provider for their extensive network of brands.

This collaboration marks a significant milestone as Progress Play becomes the first white label network to launch Playtech’s brand new innovative Bingo platform, which went live in December 2024.

This strategic partnership strengthens the existing relationship between Progress Play and Playtech, further cementing Playtech’s Bingo position as the B2B market leader. By joining Playtech’s network, Progress Play will benefit from the largest B2B liquidity in the market, offering a wide variety of networked rooms that are well-known and loved by Bingo players.

As Progress Play embarks on its first-ever Bingo launch, they will work closely with Playtech’s Bingo experts to tailor the product to their specific needs. Playtech’s network management team will provide ongoing support and consultation to ensure the success of the Bingo offering.

The deal also includes a variety of side games featuring content from Playtech’s Eyecon studio, renowned for their industry-leading Bingo slots. Together, the Playtech and Progress Play teams will leverage the liquidity and these games with exciting campaigns already underway.

Marat Koss, VP of Interactive Gaming at Playtech, said: “We are delighted to welcome Progress Play to the Playtech Bingo network. We have enjoyed working together for many years, and we are excited to extend this partnership to Bingo vertical. By joining Playtech’s network, Progress Play will be able to offer a best-in-class bingo experience to their vast pool of players who will benefit from a wide choice of content, attractive prizes and large variety of games. We look forward to a continuing our long and successful partnership.”

Itai Loewenstein, CEO at Progress Play, said: “We are thrilled to extend our partnership and integrate Playtech’s innovative Bingo platform into our offerings. This collaboration allows us to deliver an unparalleled gaming experience and next level entertainment to our players. We look forward to the exciting campaigns we have planned together.”

The post Playtech Announces New Partnership with Progress Play appeared first on European Gaming Industry News.

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IGT Lottery Secures EL Responsible Gambling Certification for the Sixth Consecutive Time

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International Game Technology PLC announced that its Italian subsidiary, IGT Lottery, obtained the European Lotteries (EL) Responsible Gaming (RG) Certification for the sixth consecutive time. Through an agreement between European Lotteries and the World Lottery Association (WLA), IGT Lottery has also obtained WLA Responsible Gaming Certification Level 4, the highest level available.

The EL RG Certification was developed to promote the adoption of RG best practices across EL membership organizations. The EL RG standards are also designed to be complementary to the WLA RG Principles and Framework, allowing companies that meet the implementation of the EL RG Standards to also achieve Level 4 certification of the WLA Framework.

“IGT Lottery achieving responsible gaming recertification by EL for the sixth consecutive time, paired with the highest level of WLA certification, showcases our status as a true global leader in sustainability. ‘Advancing Responsibility’ is vital to our success as a lottery company, and central to our sustainability strategy. We will continue to deliver innovation while operating with the highest level of integrity to protect our people, products and processes,” said Marco Tasso, IGT COO of Italian and International Sales and Operations.

IGT Lottery’s RG programme is guided by international best practices. Consistently updated to meet evolving standards, the programme operates on three macro guidelines: the promotion of a positive approach to gaming, the prevention of underage gambling and support for players who need it.

The EL RG certification was issued following an in-depth examination of IGT Lottery’s tools, activities and processes that comprise its RG programme in Italy. IGT Lottery was found to be fully in line with the international standards established by the EL, which require specific actions to protect players by the gaming operator, reaching a score of 100% for each of ten specified areas.

The post IGT Lottery Secures EL Responsible Gambling Certification for the Sixth Consecutive Time appeared first on European Gaming Industry News.

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Meridianbet Expands B2B Operations into Nigeria, Entering a Regulated $2 Billion Betting Market

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Meridianbet, a subsidiary of Golden Matrix Group, Inc., has officially launched its B2B operations in Nigeria, one of the largest and fastest-growing betting markets in Africa. The company’s entry into Nigeria further strengthens its 20-year presence in Africa, leveraging its proven track record in regulated markets to deliver world-class gaming products.

Through its newly licensed local entity, Masterlive Network Limited, Meridianbet has secured full regulatory approval from the Lagos State Lotteries and Gaming Authority (LSLGA), allowing it to operate in both sports betting and online casino verticals under License No: LSLGA/OP/OSB/MB041124.

The official launch of Meridianbet.ng marks a strategic expansion into a market worth over $2 billion, according to the research of Orange Business Intelligence Technology, with over 60 million Nigerians actively participate in betting, contributing to one of the fastest-growing industries on the continent.

Zoran Milosevic, CEO of Meridianbet, commented: “Our expansion into Nigeria marks a significant step in our long-term strategy to deepen our presence in Africa’s most dynamic gaming markets. With a highly engaged player base and strong industry growth, Nigeria presents a major opportunity for our B2B model. We are committed to bringing our cutting-edge technology, AI-powered betting solutions, and localized expertise to drive long-term success for our partners in the region.”

FY 2024 Revenue Growth & Investor Outlook

Golden Matrix Group has provided a preliminary full-year 2024 revenue estimate of $150 million, reflecting the company’s continued growth trajectory. The Group expects to release its audited FY 2024 financial results in the coming days, offering investors a comprehensive performance overview. The Nigerian market represents a strategic opportunity for future revenue expansion, aligning with GMGI’s global strategy to strengthen its presence in high-growth gaming markets.

Key Market Potential & Strategic Expansion

According to the Orange Business Intelligence Technology (ORBIT), Nigeria’s betting industry surpassed $2 billion back in 2020, with projections indicating up to $4.7 billion in annual revenue potential over the next decade. Football remains the primary driver of market growth, with a vast customer base engaging both online and offline. Meridianbet’s B2B model will provide advanced technology solutions, gaming content, and platform services to local operators, offering a scalable and highly adaptable system tailored to the Nigerian market.

A Strategic Milestone in Meridianbet’s African Growth

With operations in 18 markets across Europe, Africa, and Latin America, Meridianbet has built a reputation as a leading technology provider and betting operator. The company’s expansion into Nigeria follows its long-standing success in established African markets, where it has been a dominant player for over two decades.

The soft launch of Meridianbet.ng is already delivering positive early results, with strong partner satisfaction and excellent customer feedback.

AI-Powered Innovation & Market Expansion

As part of this rollout, Meridianbet is introducing its proprietary AI Sports Betting Recommender and AI Casino Recommender, delivering personalized betting experiences based on real-time data, player behavior, and predictive analytics. These innovations, already proving successful in multiple markets, will enhance customer engagement, retention, and overall user satisfaction in Nigeria’s rapidly evolving gaming landscape.

The post Meridianbet Expands B2B Operations into Nigeria, Entering a Regulated $2 Billion Betting Market appeared first on European Gaming Industry News.

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