OGQ: Bally's Interactive North America leads revenue growth in Q2 2023

The Online Gambling Quarterly regularly provides various in-depth analyses of key financial figures of igaming companies. In this article, the analysts share some revenue growth benchmarks of the recent quarter. In Q2 2023 Bally’s Interactive North America led revenue YoY-growth (compared to the previous year) with an increase of +143% (YoY); the average YoY-growth in the quarter of all online gambling companies analysed was +33%. Regarding the QoQ-growth (compared to the previous quarter Q1 2023), best practice growth was achieved by Scout Gaming (+46%).

Total revenue growth analyses (YoY) – for more data click here

The Online Gambling Quarterly analyses the total revenue figure across all segments and the revenue development for each vertical. For the Q2 2023 development of the total revenue the researchers provide the following insights:

• On average, total revenue (all verticals,…) grew in Q2 2023 by +33% (YoY).
• Best practice growth (YoY) was achieved by Bally’s Interactive North America with +143%. Bally’s Interactive North America includes the B2C online casino operations. The gaming revenue increased from $7.9m in Q2 2022 to $19.1m in Q2 2023. The North America Interactive segment continues its growth momentum, with New Jersey gaining market share and launching in Pennsylvania successfully.
• Lowest/negative growth – At the bottom of the ranking we find 888 Online, GAN B2B and Catena.

Total revenue growth analyses (QoQ) – for more data click here

In many cases the YoY growth rates are exceptionally high due to acquisitions made in a previous quarter – an effect that carries through for consecutive quarters after the acquisition. Therefore, several leading companies in the YoY growth benchmarking have those top positions more or less due to acquisitions made within the 12 months before the analysis. The researchers at Online Gambling Quarterly have therefore decided to also analyze quarter-on-quarter growth (QoQ) benchmarks as well. Those growth rates might be impacted by seasonal effects (eg. football season vs no football season) and other changes, but these figures can provide a quick, current overview of the most recent growth dynamics while excluding the effects of acquisitions in previous quarters.

• Average growth – On average, revenue increased in Q2 2023 (compared to the previous quarter – Q1 2023 – QoQ) by +1.4%.
• Best practice growth (QoQ)  – Best practice growth (QoQ) was achieved by Scout Gaming (+46%). Scout Gaming is a B2B provider of daily fantasy sports and betting solutions. In Q2 2023, the revenues were SEK9.5m (ca. £0.7m) – a QoQ growth of +46%. This revenue growth was mainly driven by the increased focus on the B2B vertical, such as the launch of Brazilian operator Cartola Express. In the YoY revenue analysis, the company also has a top spot at (YoY = +125%).

Betting revenue growth analyses (YoY) – for more data click here

The Online Gambling Quarterly also analysed the development of betting revenue (mostly net revenue) in the recent quarter with the following insights:

• Average growth – On average, betting revenue increased in Q2 2023 (compared to a year earlier) by +13% (YoY).
• Best practice – The best practice growth was achieved by Caesars Digital with +32% and Betway with +29%.
• Lowest/negative growth – At the bottom of the ranking we find PointsBet and 888 Online.

For more financial analyses have a look at the full report here.