Better Collective Sets Sights on Double-Digit Growth and Future Investments
Better Collective, a leading name in the sports betting industry, has announced its ambitious plans for double-digit revenue growth, continuing its trajectory of investment in future innovations.
The company’s interim report for Q4 2023 reveals a strong performance, with revenues hitting 85 million EUR, surpassing the set target for the year.
Q4 and Full-Year Highlights
The last quarter of 2023 showcased Better Collective’s robust financial health, with a 15% growth in recurring revenue reaching 47 million EUR. Despite a slight dip in EBITDA before special items by 16%, the company maintained a solid EBITDA margin of 35%.
The year’s full report is even more impressive, showing a 21% revenue increase to 327 million EUR, with recurring revenue soaring by 47%.
Strategic Investments and Partnerships
Better Collective’s commitment to innovation is evident in its strategic investments, including the acquisition of Playmaker Capital, which significantly bolsters its position in the Americas. The company also entered a partnership with the National Council on Problem Gambling (NCPG) to integrate safer gambling software, highlighting its dedication to responsible gaming.
For 2024, Better Collective has set ambitious financial targets, aiming for a revenue between 390-420 million EUR and an EBITDA of 125-135 million EUR. These goals reflect the company’s confidence in its strategic direction, including continued investment in its AdTech platform, AI projects, and the North American market’s transition towards a sustainable growth model.
Our Comment on Better Collective’s Future Outlook
Better Collective’s strategic focus on double-digit growth and continued investment in future technologies positions the company as a forward-thinking leader in the sports betting industry.
By balancing profitable growth with strategic investments, Better Collective is not only enhancing its current offerings but also laying the groundwork for long-term success. This approach ensures that the company remains at the forefront of innovation, providing value to partners and engaging sports content to audiences worldwide.
