Super iGaming affiliate Better Collective has reported its preliminary financial results for the fiscal year 2024, revealing a total revenue of €371 million. This represents a 12.6% increase from 2023 and matches the company’s adjusted revenue projections of €355 million to €375 million.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) was revealed to have reached €113 million, and this actually exceeded the company’s initial forecast of €100 million to €110 million. This growth was helped, partially, by Better Collective’s €50 million cost efficiency program, which was implemented ahead of schedule to counteract declining activity in key markets.
However, despite the positive results, the company did face challenges in the US and Brazilian markets—leading to them adjusting their revenue targets in Q4 2024. This came as a result of slowed partner activity in the US, and regulatory challenges in Brazil.
Key acquisitions—and how the market reacted
One of the core factors behind Better Collective’s growth has been its acquisition of UK-based sports betting media brand AceOdds for €42 million in May 2024. AceOdds, which was established in 2008, provides betting tools, odds comparisons, reviews, and streaming schedules via its web and app-based platforms.
Ian Bowden, Senior Director for the UK & Ireland at Better Collective, spoke on the importance of this acquisition, saying:
“This strategic acquisition brings us a robust owned and operated sports betting media brand in the UK market, poised for global scalability.”
The financial markets responded positively to the company’s latest update, with Better Collective’s share price rising 14% to DKK 77 (€10.69). This well-needed growth follows a significant drop in October 2024, when the company’s stock dropped a whopping 36.5% in just five days after its financial targets were lowered.
Setting an example for iGaming affiliates operating in highly-regulated markets
In addition to its impressive financial performance, Better Collective has also continued to adapt to regulatory changes in its home market of Denmark. In 2024, for example, new licensing requirements were brought in for game suppliers, which will become mandatory from July 1, 2025.
We’ve also seen regulatory changes in the broader affiliate marketing world. In Australia, for example, the QMRA introduced an affiliate compliance certification program in late 2024 to help market participants meet evolving compliance standards.
How Better Collective will adapt in the future to face these challenges remains to be seen—but it’s clear they have been able to overcome challenges, with their financial growth bouncing back from some disappointing 2024 drops.
Sources:
- https://www.gamblinginsider.com/news/28265/better-collective-reports-371m-in-fy24-revenue
- https://view.news.eu.nasdaq.com/view?id=b702bae323945ea45c3552a0a3c6fc1e4&lang=en&src=listed&utm_
