Better Collective, a leading super affiliate in the iGaming industry, has disclosed preliminary unaudited figures showcasing a robust financial performance throughout 2023. The company’s achievements exceed initial expectations, driven by substantial revenue growth and an impressive increase in EBITDA.
Overview of Financial Performance:
Better Collective reported total revenue of €327 million ($353 million) for the full year of 2023, surpassing its anticipated range of €315-325 million. Additionally, the company achieved an EBITDA of €111 million, positioning itself at the upper end of the forecasted range of €105-115 million. This represents a remarkable growth of 21% in revenue and a significant 31% increase in EBITDA compared to the previous year.
Impact of Accretive Acquisitions:
Better Collective’s strong financial performance can be attributed, in large part, to several high-profile acquisitions executed throughout 2023. Notably, the company acquired Denmark’s soccer media outlet, Tipsbladet, for €6.5 million ($6.9 million) on September 18, 2023. This strategic acquisition expanded Better Collective’s presence in the lucrative sports betting market and contributed to its revenue growth.
Expansion into the Americas:
In a move to enhance its global reach, Better Collective acquired Toronto-based Playmaker Capital on November 7, 2023. This acquisition aimed to bolster the company’s footprint in the Americas, particularly in the rapidly growing North American iGaming market. By integrating Playmaker Capital’s expertise and resources, Better Collective positioned itself for further growth and diversification.
Operational Excellence and Upward Revisions:
Throughout 2023, Better Collective demonstrated strong operational performance, coupled with effective cost management strategies. The company’s ability to execute accretive acquisitions and capitalize on emerging opportunities led to two upward revisions of its financial targets. Initially setting revenue targets of €290-300 million and EBITDA targets of €90-100 million, Better Collective revised its guidance to €315-325 million in revenues and €105-115 million in EBITDA, both of which were surpassed.
Future Outlook and Market Expectations:
Better Collective is poised for continued growth and expansion in the dynamic iGaming industry. With a solid financial foundation and a track record of successful acquisitions, the company remains well-positioned to capitalize on emerging trends and opportunities. Market analysts anticipate positive momentum for Better Collective, expecting its upcoming financial report, scheduled for release on February 21, to further bolster investor confidence and support its long-term growth trajectory.
Better Collective’s exceptional financial performance in 2023 underscores its position as a dominant player in the iGaming affiliate market. Through strategic acquisitions, operational excellence, and upward revisions of financial targets, the company has demonstrated its ability to drive sustainable growth and create significant value for its stakeholders. As Better Collective continues to expand its global footprint and innovate within the industry, it remains a key player to watch in the evolving landscape of online gaming and affiliate marketing.