Just after finalizing its acquisition of Playmaker Capital, Better Collective published its unaudited full-year report. The company said that 2023 was a very strong year and that the results exceeded its guidance.

According to the company’s announcement, its full-year revenues reached EUR 327 million ($352.5 million), which represents a 21% year-on-year growth. EBITDA, on the other hand, increased by 31% to EUR 111 million ($119.7 million). The latter figure was within the high end of Better Collective’s guidance, while revenue exceeded previous estimates.

In addition, Better Collective reported net debt to EBITDA before special items below 2.0, in line with its target.

The digital sports media group described 2023 as a very strong year as it allowed it to surpass its financial targets. Throughout the year, the company had to update its guidance two times thanks to strong operational performance and accretive acquisitions.

For reference, Better Collective’s first guidance was set out at the beginning of the year and targeted revenues of between EUR 290 and 300 million, as well as EBITDA range of EUR 90-100 million. However, the company had to update the guidance, eventually targeting revenues of EUR 315-325 million and EBITDA of 105-115 million.

Better Collective concluded that its official Q4 and FY 2023 report will go live on February 21, after market close.

Better Collective Seeks to Dominate the Affiliate Market

Better Collective is ambitious to become the leading digital sports media group. The company’s goal is to engage fans and foster passionate communities all over the world.

Better Collective is also bullish on promoting gambling in a safe and responsible way, as demonstrated by its participation in the Responsible Gambling Affiliate Association (RGAA), a body that was founded last year to help affiliate companies serve the online gambling market responsibly.

Other RGAA members include Catena Media, Gambling.com, Oddschecker Global Media, Spotlight Sports Group and XLMedia.

As mentioned, in 2023, Better Collective signed a definitive deal to acquire Playmaker Capital, another leading digital sports group. The acquisition, which was just completed, reinforced the former company’s position as a leading affiliate, allowing it to further develop its business.

In addition, Better Collective expects financial synergies between the two companies to have a beneficial effect on Better Collective’s business. Because of that, the company updated its long-term financial targets following the conclusion of the deal.

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BetMGM provided some insights into the betting markets for the highly anticipated F1 Heineken Silver Las Vegas Grand Prix 2023. As it turns out, Verstappen commands the bigger part of the F1 handle.

BetMGM is preparing for the historic race, believing that it could become the formula racing event with the largest handle in the company history. Now available in 26 markets, BetMGM operates nine retail sportsbooks within MGM Resorts International’s Las Vegas properties.

According to Matt Prevost, BetMGM’s chief revenue officer, the growth of motorsports’ popularity is nothing short of remarkable.

Race weekend in Las Vegas has the potential to shatter every company record for the sport. Popularity for automotive sports in the U.S. continues to grow and the activity we’re already seeing around this event is remarkable.

Matt Prevost, CRO, BetMGM

BetMGM Provides Insights into the Betting Markets

Publishing some insights into how bettors feel about the event, BetMGM remarked that Max Verstappen’s odds to win moved from -350 to -275. Charles Leclerc’s odds, on the other hand, moved from +2200 to +1600. Fernando Alonso’s odds, meanwhile, changed from +4000 to +2500.

BetMGM also published information about the handle percentage recorded by Max Verstappen, Lando Norris and Sergio Perez. Verstappen remains confidently ahead of his rivals, commanding 58.6% of the total handle. Far behind is Norris with 12.6%, followed by Sergio Perez at 6.8%.

BetMGM’s biggest liability, however, is not Verstappen but Logan Sargeant. Next up are Lando Norris and Sergio Perez.

In terms of the highest ticket percentage, Lando Norris takes the lead with 15.8%. He is followed by Max Verstappen and Sergio Perez with 12.7% and 10.9% respectively.

Finally, the company published information about most bet props. The Sergio Perez to finish top 3 market is currently at +160. The any other driver to win the race versus Verstappen market, meanwhile, is at +200. Finally, the Mercedes car to win the race prop stands at +1200.

Speaking of BetMGM, MGM Resorts’ Bellagio Fountain Club will offer premium experiences during the event, including state-of-the-art dining, cutting-edge viewing experiences, the chance to see the race live and a post-race commentary panel featuring the top racers.

However, some of the arrangements surrounding the event, including the pedestrian bridge view blocks and the disruption of homeless people’s lives have attracted criticism from Las Vegas citizens and tourists.

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Aristocrat has published its full-year results for 2023, posting a robust revenue and EBITDA gain. Between September 2022 and September 2023, the company recorded operating revenue of AUD 6.3 billion.

Now licensed in 103 countries and 327 jurisdictions, the company also reported EBITDA of AUD 2.1 billion. Based on normalized results, operating revenue recorded year-on-year growth of 13%. This is notably the lowest increase recorded by the company and was driven by strong performance in Aristocrat Gaming in North America. Pixel United’s performance was impacted by a variety of factors.

Aristocrat also reported net profit of AUD 1.3 billion, representing a 21% increase. In the meantime, the most significant growth was from the company’s earnings per share, which increased by 26% to 189.6c.

Aristocrat’s results highlighted operating cash flow of AUD 1.79 billion. At the close of the fiscal year, the gambling giant also reported cash debt of AUD 809 million.

In addition to posting strong results, Aristocrat reported strong growth of Premium Class III and Class II installed base, which grew by 8.2%, exceeding 64,000 units. Aristocrat remained the leading supplier in the US market, achieving portfolio performance of 1.4x floor average. Aristocrat also featured 19 of the top 25 Top Premium Leased games, 17 of the Top 25 Mechanical Reel games and 14 of the top 25 Class II Video games.

CEO Croker Praised the Results

Aristocrat’s chief executive officer and managing director, Trevor Croker, commented on the results, saying that he is proud of the company’s annual achievements. He said that the “high-quality result” achieved by the company “demonstrates the ongoing resilience, competitiveness and diversification” of Aristocrat’s portfolio. Croker added that the results also attested to the sound fundamentals in the markets in which Aristocrat operates.

FY 2023 also saw the company sign key partnerships with many major companies and organizations. This included a partnership with the Formula 1 Heineken Silver Las Vegas Grand Prix, upon which the gambling supplier’s machines became the event’s official slot machines.

The partnership represented an opportunity for the company to expand in professional sports.

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Betsson Group has published its interim report for the period between July and September, highlighting new record numbers. The company’s metrics increased across the board as it channeled more active customers toward its products.

As reported, Betsson’s group revenue for the period was EUR 237.6 million ($251 million), representing an increase of 19% and an organic increase of 39%. Casino revenue in particular increased by 27%, while sportsbook revenue increased by only 2. The sportsbook margin, meanwhile, was 7.3%.

The company’s EBITDA for the period sat at EUR 68.9 million ($72.8 million), which translates to an increase of 42%. EBITDA margin was 29%. EBIT, on the other hand, was EUR 56 million ($59 million), representing a year-on-year increase of 46%. The EBIT margin was 23.6%.

Betsson Group also reported a net income of EUR 46.2 million ($48.8 million), corresponding to EUR 0.35 ($0.37) per share. Operating cash flow for the period, meanwhile, was EUR 44.9 million ($47.44 million).

The company’s net debt at the end of Q3 was EUR -65.5 million ($69.2 million).

Last but not least, the company reported a 17% increase in the number of active customers to 1,237,238.

Lindwall Summarized Betsson’s Q3 Achievements

Pontus Lindwall, Betsson’s president and chief executive officer, commented on the results, highlighting the high customer activity, strong financial development and investments in product and new markets.

Linwall praised the increased metrics, noting that the Q3 revenue and EBIT are the highest Betsson has ever recorded. He noted that the figures include the acquisition of betFIRST.

Lindwall added that the Nordics was the only major region that failed to reflect Betsson’s high growth. In the meantime, the company continued to expand its presence, acquiring betFIRST in Belgium, launching in Serbia and obtaining a sports betting license in France.

The executive highlighted the importance of B2B to his company’s growth strategy and said that his team will continue to strengthen the B2B offering. He noted that in September Betsson supplied Bethard with its sportsbook solution.

Q3 was also an important period for the company as it saw it launch its first-ever global advertising campaign.

The theme “A bet makes the difference” focuses on the excitement and entertainment that comes from placing a bet, on sports or casino, rather than the chances of winning. The campaign is part of the marketing strategy to establish Betsson as the Group’s global main brand, aiming to achieve economies of scale and competitive advantages for the business in the long run.

Pontus Lindwall, president & CEO, Betsson Group

Lindwall concluded that he is very optimistic about the rest of 2024. He hinted at possible future investments, saying that Betsson’s geographical diversification, solid balance sheet and strong cash flows provide favorable conditions for growing the company.

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Mississippi’s gambling regulator, the Mississippi Gaming Commission, published its sports wagering report for September 2023. The report highlights the performance of the state’s sportsbooks and shows which sports were the most popular among players.

In terms of sports betting handle, the Magnolia State’s sportsbooks managed to surpass the $50 billion mark, exceeding the results recorded in September 2022 when the local punters wagered $43,139,310. For reference, September 2023 saw Mississippians wager a total of $51,647,914 on sports. This figure translated into taxable revenue of $8,144,027 billion, which was lower than the revenue recorded in September 2022.

Coastal Mississippi contributed $33,494,794 of the total handle. Bettors in Central Mississippi, on the other hand, wagered $12,331,034. Northern Mississippi sports betting handle, meanwhile, lagged behind at $5,822,085.

Football Remained a Top Performer

The commission also published data about the most popular sports among bettors. According to the data provided by the commission, football remained the most popular sport in the state, although the total football handle experienced a decline in all areas but Central Mississippi. For reference, fans wagered a total of $5,935,048, $19,332,644 and $3,434,245 in Central, Coastal and Northern Mississippi, respectively.

Basketball was another strong contender, recording a handle of $166,396, $235,916 and $191,021 in Central, Coastal and Northern Mississippi, respectively.

Baseball fans in Central Mississippi wagered $1,291,297. Those in Coastal Mississippi bet $3,862,924 more. The baseball handle in Northern Mississippi lagged behind at $342,744.

Parlay cards remained a popular vertical, causing players in Central, Coastal and Northern Mississippi to bet $4,830,155, $5,359,855 and $1,542,319, respectively.

Other sports contributed $108,136, $4,703,453 and $311,754 in handle in Central, Coastal and Northern Mississippi, respectively.

In the meantime, the American Gaming Association published its Commercial Gaming Revenue Tracker for August, reporting on the industry’s performance. Mississippi’s results for the period experienced a slight year-on-year decline of 3.7%.

In the meantime, the overall US gambling industry continued to perform well thanks to the contributions of the iGaming sector. According to experts, the favorable figures may signify a third record-breaking year for the US gambling industry.

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The American Gaming Association has published its latest Commercial Gaming Revenue Tracker, providing state-by-state and nationwide insight into the performance of the United States’ gambling industry. The August results suggest that the US gaming industry might be in for a third record-breaking year in a row.

As reported by the AGA, casino gambling industry revenue continued to grow, while gaming revenue as a whole increased by 4.9% in August. According to the association, this marks the 30th consecutive month of year-on-year growth.

Leveraging data from state regulators, the AGA concluded that the US gaming industry exceeded the $5 billion mark for the twelfth month in a row, sitting at $5.14 billion in August. The first eight months of the year, meanwhile, saw the industry accumulate revenue of $43.15 billion. This figure notably marks a 10.4% YOY increase.

Growth wasn’t universal, however. According to the report, 17 of the 33 states with commercial gambling markets saw their revenues increase. Meanwhile, six markets recorded marginally lower results. These included DC (-0.7%), Florida (-0.9%), Indiana (-1.2%), Iowa (-0.5%), Missouri (-0.3%) and Mississippi (-3.7%).

All Verticals Reported YOY Growth

The AGA also provided an insight into how the separate verticals fared. The association attributed the vast growth to the iGaming sector and pointed out that land-based gaming revenue growth has been experiencing a slight slowdown.

For reference, in August, land-based casinos and sportsbooks experienced a revenue increase of 0.8% year-on-year. Their online counterparts, meanwhile, saw their revenue skyrocket by 24.6% year-on-year. The AGA noted that Kansas, Maryland, Massachusetts, and Ohio were major growth drivers.

Traditional slots and table games are experiencing slower growth but are still responsible for much of the traditional casinos’ revenue. In August, these segments generated $4.06 billion in revenue, which represents a modest 1.1% YOY increase. Slot machines were responsible for almost three-quarters of that number.

During the first 8 months of the year, traditional slots and table games have generated $33.03 billion, surpassing last year’s figure for the same period by 3.3%.

The off-season period in professional sports, meanwhile, led to the usual decrease in revenue. Despite that, the figures exceeded the ones recorded in the summer of 2022, attesting to the increased interest in betting.

In total, sports betting handle for August was $6.67 billion, up 36.1% YOY. This translated into total revenue of $583.1 million, which is 21.2% higher than what the industry recorded in April 2022. This figure was bolstered by the recent launch of betting in additional states.

Through August, sports betting in the USA recorded revenue of $6.14 billion, a stellar 60.4% up YOY. Handle for the same period reached a whopping $68.23 billion. According to the AGA, these figures mean that betting handle is likely to surpass the $100 billion mark by the end of the year.

Finally, the AGA reported that the six states where online gambling is legal saw revenue from the vertical increase by 23.4% YOY to $495.8 million. Delaware was the only of the six markets that failed to report growth.

Through August, iGaming revenue reached $3.94 billion, representing a YOY increase of 22.7%.

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Gambling regulations in Peru are about to change. The government released changes in the regulations in the online gambling industry, specifically in implementation and regulation in this industry, on October 13, 2023.

New law implementation

The new rules for remote gaming and sports betting in Peru are regulated by Law No. 31557. The document is called Supreme Decree Nº 005-2023.

The point of new regulations is to allow the licensing regime, which will allow online gambling operators to offer their services in the country. Prior to the final approval, the law was amended by Law No. 31806.

The Bill was signed in 2022, and back then, the government was able to set a 12% tax on net income in the gambling industry. According to that, the government was expecting to earn about $40 million in profit from the gambling industry on a yearly basis. Pedro Castillo, the President of Peru, wanted to approve this in order to “have more resources to meet its economic and social obligations.”

Establishing MINCETUR

However, when the Supreme Decree was approved, the Ministry of Foreign Trade and Tourism, MINCETUR, was in charge of everything related to online gaming and sports betting, including getting the authorization to issue licenses. MINCETUR will be in charge of registering various technological platforms and all of their partners, as well as online gaming programs, live casino games, sports betting terminals all around the country, and service providers related to them.

However, one of the most important duties of the body will be taking care of complying with the advertising restrictions and responsible gaming regulations.

The new regulations will take care of the main technological standards, as well as various restrictions when it comes to gambling ads and responsible gaming provisions.

As Sigma reports, the Supreme Decree will also allow the operators who still haven’t gotten their licenses to have the gap of 30 days, specifically the operators who weren’t licensed on March 9, so they’ll get a second chance to become part of the Peruvian gambling market.

Almost all of these regulations will be effective 120 days after they are released. However, the specific sections have special timelines for all operators and licensees.

It remains to be seen how Peruvian operators will react to these new regulations. However, it is surely a step in the right direction when it comes to strengthening the Peruvian and Latin American markets and opening the door to the popularization of gambling and sports betting in these markets.

Source: Pulis Xerxen, Shirley, “Online gambling regulations published in Peru”, October 16, 2023.

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The Kansspelautoriteit has published its latest report, outlining the state of the gambling industry in the Netherlands.

According to the KSA, the total number of active players remained more or less the same during the past six months. GGR continued to increase but demonstrated clear signs of slowing down. The regulator said that the market is leveling off.

For reference, GGR for the period from August 2022 to July 2023 was EUR 1.33 billion (around $1.4 million). To represent the slower growth, the KSA noted that between August 2022 and January 2023, GGR increased 33%. However, from January 2023 to August 2023, the recorded growth was only 8%.

The total number of active accounts was 826,000 as of July 2023, representing a slight decline from January 2023 when there were 859,000 active accounts. The KSA, however, noted that the number of accounts isn’t an active representation of the actual number of players.

The KSA estimates that there are 676,000 active players in the country, 417,000 of whom gamble every month. According to the regulator, players wager around €170 a month, based on a new method of calculation.

The KSA Channeled Players toward the Safer Legal Market

The KSA reported that its efforts to channel players toward the legal market are paying off as 93% of the gamblers play with legal operators. This is in line with KSA’s target goal of having 8 in 10 players pick the licensed alternative.

Younger people continue to be interested in gambling, the KSA noted. According to the regulator, they represent 21% of the total number of accounts, although they spend less money per month at €59.

The KSA added that its CRUKS self-exclusion scheme continues to attract new registrations. The authority added that the total number of excluded players has surpassed 50,000.

Finally, the KSA addressed the recently introduced ban on untargeted advertising for online gambling. Since then, only program sponsorships have been broadcast on TV. However, they are also set to be banned on July 1, 2024.

KSA’s chair, René Jansen, addressed the results, saying that they are in line with the regulator’s expectations. In the meantime, Jansen said that operators should be aware of the continued, albeit slower, growth of the market and adjust their responsible gambling efforts accordingly.

Jansen concluded: “The KSA continues to strictly monitor that Dutch players can gamble in a safe market, with sufficient attention to addiction prevention and insight into possible problematic gaming behavior.”

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The Kentucky Sports Wagering Advisory Council has published a Wagering Catalog outlining all the sports upon which wagers may be conducted. The publication follows a meeting of the council and comes ahead of the launch of sports betting in the state.

Recommended by Hans Stokke, the director of sports betting at the Kentucky Horse Racing Commission, the list includes a large number of events although some were still left out.

For example, Kentucky bettors will be able to wager on all of the biggest sports leagues in the USA, including the NFL, NBA, MLB, NHL, MLS, WNBA and OGA. Wagers on a number of collegiate sports are also allowed.

In addition to that, sports punters will get to place bets on a variety of other events, such as tennis, cornhole, darts, billiards, snooker, chess and cycling. The Olympics are also on the list.

Interestingly, players will be able to wager on motorsports such as NASCAR, NHRA and IndyCar races, among others, but not on international Formula 1 events.

Many Events Made It on the List, Some Did Not

In the meantime, operators will also be allowed to accept wagers on combat sports such as boxing and the UFC. However, slap fighting and other combat sports failed to make it on the list because of their inherent brutality. Stokke in particular was reluctant to approve disciplines that “result in mayhem.”

LIV Golf, the controversial golf tour backed by Saudi Arabia, also made it to the list. However, its addition may be reevaluated if it merges with the PGA Tour.

Fans of video gaming also have a reason to rejoice as Kentucky is set to greenlight betting on eight of the biggest esports titles. These include the Call of Duty League, CS:GO, League of Legends, Dota 2, the NBA 2K League, the Overwatch League, Tom Clancy’s Rainbow Six Siege and VALORANT.

Unfortunately, fans of pickleball aren’t as lucky as the sport failed to make it to the list. However, Stokke reassured proponents of the discipline that it may get added in the future once his team is “more comfortable with the governing bodies that pickleball is subject to.”

Speaking of which, the list is likely to grow in time as more disciplines and women’s leagues are likely to be added in the future. However, the state plans to only include events that are overseen by a governing body that ensures their integrity.

Kentucky sports betting launches in a week. Starting September 7, retail sportsbooks will be able to accept wagers. A mobile launch will follow on September 28, although players can register in advance.

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Esports betting specialist Rivalry has published its Q2 2023 report, highlighting another favorable quarter. The gaming and sports betting operator reported a spectacular increase in handle and updated its guidance.

Rivalry reported record-breaking Q2 revenue of roughly $6.4 million (converted to USD from CAD). This represents a remarkable 60% increase from Q2 2022, demonstrating the company’s resilience.

During the second quarter of the year, Rivalry recorded an impressive handle of $82.6 million. This figure notably represents a whopping 192% year-on-year increase for the company.

At the same time, marketing spend was reduced by 6% year-on-year.

Rivalry reported that its casino business helped it offset the seasonal slowdown of the esports segment, adding an extra $42.3 million in handle.

Gross profit for the period was $2.8 million, representing an 86% year-on-year increase. Net loss, on the other hand, sat at $4.6 million, remaining more or less the same as in Q2 2022 when the company recorded a loss of $4.5 million. Operational expenses also remained nearly flat.

At the end of June 30, 2023, Rivalry had $10.3 million in cash and no outstanding debts.

Salz Is Excited about the Performance

The favorable results caused Rivalry to update its FY guidance. Steven Salz, the company’s co-founder and chief executive officer, attributed the favorable results in Q2 to multiple improvements to the company’s business, including increased marketing sophistication and enhancements to its core product.

Salz teased that the company plans to release a number of products in Q3 that are expected to further boost its business. He promised that Rivalry has “barely scratched the surface” of its product roadmap and is confident in its potential to appeal to younger players.

While the volatility of the market continues to be a challenge to the company, it also provided Rivalry with the opportunity to learn more about the sector and its competitors.

Our position among young Millennial and Gen Z customers represents one of our greatest competitive advantages, but has also presented unique learnings regarding betting behaviors.

Steven Salz, CEO, Rivalry

Salz noted that the learnings and ongoing adjustments to the company’s business are expected to reduce volatility, positively impact bottom-line results and “propel” the company to profitability.

In other news, Rivalry recently introduced same-game parlays and launched a mobile esports app in Ontario.

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