Better Collective announces Q1’s financial performance

Better Collective announces Q1’s financial performance

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Better Collective announces Q1’s financial performance

Better Collective reported the statistics of their financial performance for Q1, showcasing a record breaking income.

Results show a 74% increase compared to 2021 amounting to 67.4 million euros. 46% (30 million euros) came from the American market which is 5 times more in comparison with the same time of 2021.

Following the release of the NY mobile sports betting market and the new deal with New York Post, Better Collective saw a huge increase in US business. They stated that the American market is the main one and is slowly achieving the same results as the European business. 

Besides the US, Better Collective is expanding in North America. They have assets of SCB, preparing for the release of the Ontario market.

After taxes the group’s revenue grew by 65%, from 8.3 million euros to 13.7 million euros.

During the 1st quarter, EBITDA grew by 60% (21.4 million euros), the EBITDA margin for Better Collective was lowered by 32%, compared to last year’s 34%.

The clash flow from different operations dropped to 13 million euros from 16 million euros.

Chief executive officer of Better Collective, S. Søgaard said that this year they are off to a good start, as for the 1st quarter they had strong results.

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