Better Collective reports US revenue of $8.2m for Q2 2021
Copenhagen-based affiliate hails performance of VegasInsider and RotoGrinders brands with Action Network only just consolidated
Better Collective has posted US market revenue of $8.2m for the second quarter of 2021.
The figure marked an increase of more than five times the revenue generated in Q2 2020.
This revenue uptick was primarily driven by the Stockholm-listed affiliate’s VegasInsider and RotoGrinders brands.
VegasInsider is a sports betting affiliate portal, while RotoGrinders is focused on DFS.
Better Collective’s largest US asset is Action Network, which was only acquired by the European affiliate giant in May 2021 for $240m.
Action Network and its related sites was consolidated to the Better Collective business from May 28 and contributed $2.1m of revenue for the period to June 30 while remaining EBITDA neutral.
Excluding Action Network, Better Collective’s US EBITDA margin for the quarter was 36%.
“The acquisition of Action Network places Better Collective in a leading position within sports betting media in the US and creates a strong foundation for benefitting from the continuous regulation of the US betting market,” said Better Collective CEO Jesper Søgaard.
“The performance of Action Network since the time of consolidation has been strong across KPIs including a significant audience growth.
“Overall, the US segment delivered a strong performance, even considering the low season, and was especially driven by VegasInsider and RotoGrinders,” he added.
Better Collective said new depositing customer (NDCs) performance was on a par with Q1 despite fewer US sports events during the off-season.
The firm is now live in 11 states and expects to generate US revenue in excess of $100m by 2022.