SBC News Voice of the Sports Betting Industry
In a new shareholder update, Better Collective revealed that it has surpassed its financial target by reaching full year revenues of €327m and EBITDA of €111m.
These numbers represent an year-over-year growth of 21% and 31% respectively. Initial full-year revenue targets were set between €315m and €325m.
Approximate full-year EBITDA fell in line with the targeted €105m to €115m. The net debt to EBITDA was below 2.0, again achieving expectations.
Targets were adjusted twice during 2023 to reflect successful company growth and acquisitions. The first outline was set at the beginning of 2023, targeting revenues between €290m and €300m, and EBITDA approximately €105m to €115m.
A notable step for the company last year was the acquisition of Toronto TSX-listed Playmaker Capital for €176m funded by Better Collective’s share allocation (65%) and cash reserves (35%).
Better Collective will release its Q4 and full year performance results on 21 February, after market close.
