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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Czech-based lottery group Allwyn International announced its preliminary results for the first quarter of 2023, posting a huge increase in revenue to reflect strong organic growth across all existing markets.

Driving Organic and Inorganic Growth

For the three months ended March 31, 2023, Allwyn registered total revenue of €1.65 billion ($1.78 billion), up 80% compared to the group’s Q1 2022 revenue figure. The increase Allwyn attributed mainly to the acquisitions of Camelot UK and Camelot LS Group both of which concluded during the reported quarter.

Commenting on the results, Allwyn’s chief executive officer, Robert Chvatal, was pleased to see the business perform strongly from the beginning of the year, driven by its “ongoing focus on driving organic growth” alongside progress in its inorganic growth strategy, stressing that all seven lottery markets contributed to the result.

The completion of two landmark acquisitions in the first quarter underscores our continued success in executing our inorganic growth strategy.

Robert Chvatal, CEO, Allwyn

Chvatal noted that the acquisition of Camelot UK ensured the operation of the UK National Lottery over the next decade, while Camelot LS Group opened the door to the US market.

Excluding the effect of both acquisitions, consolidated revenue was €1.07 billion ($1.16 billion), registering an increase of 17% year-over-year. Consolidated Adjusted EBITDA was €325.5 million ($351.5 million), up 20% from Q1 2022.

The increase was attributed to the further progress in digital channels and Allwyn’s customer proposition in physical retail and was supported by ongoing product and technology innovation. The result was also influenced by the negative pandemic impact in Q1 2022.

On a pro-rata basis, total revenue was €2 billion ($2.16 billion), posting an increase of 176% year-over-year, while Adjusted EBITDA posted an increase of 62% to €280.2 million ($302.6 million), highlighting further the massive impact of both acquisitions.

In fiscal 2022-23, Camelot UK experienced a remarkable year in sales and revenue growth, achieving its second-best annual profit since its launch in 1994 and surpassing the previous year’s result by almost £100 million ($126 million).

Differing Business Models, Inflation, Energy Cost

Allwyn stated that the business models of both Camelot UK and Camelot LS Group differ from those of their other existing markets making consolidated metrics incomparable directly to prior periods. Furthermore, as both acquisitions were completed during Q1 2023, future quarter comparisons will be also affected.

Another factor that influenced the results was the impact of inflationary pressures on the general consumer sentiment, albeit very limited, due to resilient revenues supported by the low price point of Allwyn’s products, low average spend per customer, and a large number of regular players.

Last, profitability was supported by the low proportion of energy in the company’s cost base while a significant portion of the cost base is directly linked to revenues.

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Gambling.com Group, a provider of iGaming digital marketing services, has posted its unaudited financial results for the fourth quarter of 2022. The company’s revenue skyrocketed and so did its net income.

Gambling.com reported $21.3 million for the period, representing a stellar 107% year-on-year increase from Q4 2021’s $10.3 million. Net income increased to $4.4 million, or $0.12 per share.

Adjusted EBITDA sat at $6.85 million, a 202% increase from the $2.2 million recorded in Q4, 2021. The cash flow generated by operating activities was $6.18 billion with a free cash flow of $364,000.

The company also published data about its overall performance in 2022, reporting annual revenue of $76.5 billion. Annual adjusted EBITDA exceeded $24 million with Gambling.com reporting an adjusted EBITDA margin of 31%. Free cash flow for 2022 was $9.46 million, the company noted.

In 2022, Gambling.com saw its NA revenues skyrocket to $10 million, which represents a whopping 364% increase. The year saw the company launch in several new markets and deliver more than 82,000 new depositing customers. Gambling.com was also able to repurchase 38,708 of its ordinary shares for $8.98 per share.

The iGaming provider also published its 2023 guidance, saying that it expects annual revenue of $93-97 million and adjusted EBITDA of $32-36 million.

Executives Praised the Results

The results were addressed by Charles Gillespie, co-founder and chief executive officer of Gambling.com Group, who praised the strong and organic growth. He attributed some of the company’s successes to Gambling.com’s investments in expanding its team, technology and portfolio of performance marketing websites. In addition, 2022 saw the company make forays into five new North American markets

Gambling.com Group’s 364% year-over-year increase in fourth quarter North American revenue to $10.0 million reflects the continued benefit from strong performance in our newest markets, including solid results from our November launch in Maryland.

Charles Gillespie, CEO, Gambling.com

Gillespie added that the company’s great metrics have been further complemented by the strong performance of its Ohio launch this year, as well as from its launch in Massachusetts in early March. Outside of North America, Gambling.com continues to focus on the UK and Ireland, where it has operated for almost a decade.

Gillespie concluded that Gambling.com is poised to grow even further in 2023.

Elias Mark, Gambling.com’s chief financial officer, also commented on the matter. He praised the team for driving an increase of over 133% in new depositing customers and improving the company’s financial metrics.

With our strong operating cash flow and balance sheet, we have the financial flexibility to continue making return-focused investments in our business to deliver increased scale and attractive top-line and cash flow growth – all while maintaining strong profitability.

Elias Mark, CFO, Gambling.com

Gambling.com continues to grow as attested by the EGR Sports Affiliate of the Year award it received in 2022.

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