Better Collective revenues up double digits on US investment plan
US sports betting acquisitions spark 60% Q2 NDC increase and triple-digit EBITDA growth for H1
Better Collective today reported Q2 revenue growth of 64% to €15.8m as the business continues to reap the rewards of its US investment strategy.
The Copenhagen-headquartered affiliate saw EBITDA growth before special items of 77% to €6.8m, with an EBITDA margin of 43%.
New depositing customers (NDCs) exceeded 111,000 in the second quarter of 2019, marking growth of 60% from the prior corresponding period.
The strong quarterly growth was driven by Better Collective’s performance in the US sports betting market. The firm acquired DFS network RotoGrinders for $21m in May and also sealed the $20m dual purchase of Vegas Insider and Scores and Odds in July.
Better Collective also agreed a media partnership with NJ Advance Media LCC to integrate content on news outlet, nj.com.
Better Collective CEO Jesper Søgaard
Better Collective CEO Jesper Søgaard said: “I am pleased to report that growth in Q2 was strong compared to the same quarter last year.
“With the execution of two US acquisitions and a media partnership, Better Collective has firmly established its presence in the emerging US sports betting market.
“I am confident that we 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.
“The US operation is likely the biggest growth driver in the years to come,” he added.
In the first half of 2019, Better Collective revenue grew by 79% to €30.7m while EBITDA rocketed by 124% to €13.3m.
The business also established new offices in Nashville, New York and Fort Lauderdale in the US during H1, as well as in the UK and Poland.