Betr Entertainment Limited · ASX:BBT
Betr Entertainment — BlueBet Holdings — Q2 FY24 Earnings Presentation
20 slides from Betr Entertainment's earnings presentation, Jan 31, 2024
Slide 1: Q2 FY24 Quarterly Results & Investor Presentation ASX Announcement
ASX Announcement (ASX:BBT) 31 January 2024 Q2 FY24 Quarterly Results & Investor Presentation BlueBet Holdings Limited (ASX:BBT) (BlueBet or the Company) is pleased to provide the attached Q2 FY24 Investor presentation. AUTHORISATION For personal use only This announcement has been authorised for lod
Slide 2: Q2 FY24 Investor Presentation & Appendix 4C
For personal use only Q2 FY24 INVESTOR PRESENTATION & APPENDIX 4C January 2024 1
Slide 3: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER Acceptance included in this presentation. The non-IFRS financial information in this presentation has not been audited or reviewed in accordance with AAS. All This presentation has been prepared by BlueBet Holdings Ltd (ACN 647 124 641) (BlueBet). By accepting, accessin
Slide 4: Q2 FY24 Highlights
Q2 FY24 HIGHLIGHTS Strong trading performance in Australia and the US; Group expected to be cash flow neutral in H2 For personal use only Group expected to be cash Turnover Active Customers¹ Robust Net Win flow neutral in H2 FY24 up 14.2% to $168.7m up 19.0% to 71,789 of 9.7% Further levers to pull;
Slide 5: Group Key Metrics Dashboard - Q2 FY24
GROUP¹ KEY METRICS DASHBOARD - Q2 FY24 Market share gains driving strong growth with record quarterly metrics for Bet Count, Active Customers, Turnover, Gross and Net Win For personal use only 3.3 million 71,789 Bet Count Active Customers2 (+9.0%) (+19.0%) $168.7 million 9.7% Turnover Net Win margin
Slide 6: Australian Trading Business
For personal use only AUSTRALIAN TRADING BUSINESS 5
Slide 7: Australia Key Metrics – Q2 FY24
AUSTRALIA KEY METRICS – Q2 FY24 Strong performance with market share gains delivering record quarterly performance Q2 FY23 Q2 FY24 PCP YTD FY23 YTD FY24 PCP For personal use only 59,632 67,391 ACTIVE +13.0% CUSTOMERS¹ FY23 Q2 FY24 Q2 $154.8m $298.7m $146.3m $279.3m TURNOVER +5.8% +6.9% FY23 Q2 FY24
Slide 8: Record Active Customers and Bet Count
RECORD ACTIVE CUSTOMERS AND BET COUNT1 Active Customers up 13.0% to 67,391 12-month rolling Bet Count over 11.7m For personal use only +13.0% on PCP +4.7% on PCP 67,391 11.7 65,41566,526 11.4 11.6 11.5 63,118 11.2 11.0 59,632 10.6 54,920 9.7 53,328 49,556 8.8 45,087 7.7 39,195 6.5 6.0 32,472 5.1 26,
Slide 9: Turnover by Product
TURNOVER BY PRODUCT1 Outperforming the market with Turnover up 5.8% to $154.8m, driven by strong growth in Sport For personal use only $154.8m Q2 FY24 Turnover Thoroughbred Greyhound Harness Sport $80.7m $35.4m $11.5m $27.2m (Q2 FY24) 52% 23% 7% 18% +0.4% +5.3% 0.0% +31.2% $146.3m Q2 FY23 Turnover $
Slide 10: Mobile-First Focus
MOBILE-FIRST FOCUS1 Mobile Turnover now 68% of total; margin increasing to 11.7% Turnover ($ million) by channel For personal use only (Q2 FY23 – Q2 FY24) Net Win Margin % by channel (Q2 FY23 – Q2 FY24) +3.1% 86.7 84.1 15.8% 12.3% 11.6% 11.7% +7.0% 10.1% 47.3 44.2 7.4% 7.0% +12.9% 17.9 15.8 +29.4% 2
Slide 11: Australian Marketing Activity
AUSTRALIAN MARKETING ACTIVITY Effective brand investment delivers significant efficiencies Well positioned ahead of proposed new Australian wagering regulations Shift towards targeted acquisition media already underway: BlueBet brand relaunch For personal use only • Increased investment in paid digi
Slide 12: US Market Entry
For personal use only US MARKET ENTRY 11
Slide 13: US Market Entry
US MARKET ENTRY ClutchBet gaining traction in Iowa and Colorado with hyper-localised marketing strategy AUD $m Q2 FY24 Q2 FY23 For personal use only Turnover/Handle 13.9 1.4 Gross Win 0.8 0.1 Net Win 0.1 - Bet Count 84,009 6,804 • 71% live wagers shows popularity of live betting for core customer ba
Slide 14: Louisiana Launch
LOUISIANA LAUNCH Go-live announced on 30 January 2024 • Planned marketing promotions For personal use only • New Player offer – Bet up to $200, get up to $1,000 free bets • Retention offers - +200 on New Orleans Saints spread bets, all season - +200 on New Orleans Pelicans spread bets - Parlay insur
Slide 15: Financials
For personal use only FINANCIALS 14
Slide 16: Summary of Quarterly Cash Flows
SUMMARY OF QUARTERLY CASH FLOWS Q2 cash expenditure impacted by significant one-offs; Group expected to be free cash flow neutral in H2 Q2 cash flow highlights $000'S Q2 FY24 For personal use only Cash flows from operating activities • Net cash used in operating activities includes ($4.5m) invested
Slide 17: Q3 FY24 Priorities
For personal use only Q3 FY24 PRIORITIES 16
Slide 18: Q3 FY24 Priorities
Q3 FY24 PRIORITIES Continue strong business momentum in Australia and the US For personal use only Outperform and grow market share Execute successful Louisiana launch Embed BlueBet Global Platform to drive scale Leverage product enhancements to grow share and operational efficiencies and improve ma
Slide 19: Update on Strategic Initiatives
UPDATE ON STRATEGIC INITIATIVES • BlueBet continues to demonstrate strong trading performance. Existing cash reserves and loan For personal use only facility provide financial flexibility, with further levers to pull if required • As disclosed on January 5, BlueBet remains in ongoing strategic discu
Slide 20: For personal use only
For personal use only 19