Betr Entertainment Limited · ASX:BBT
Betr Entertainment — BlueBet Holdings — FY2024 Earnings Presentation
21 slides from Betr Entertainment's earnings presentation, Aug 29, 2024
Slide 1: ASX Announcement: FY24 Results Investor Presentation
ASX Announcement (ASX:BBT) 29 August 2024 FY24 Results Investor Presentation BlueBet Holdings Limited (ASX:BBT) (BlueBet or the Company) is pleased to provide the attached FY24 Results Investor Presentation. —END— AUTHORISATION This announcement has been authorised for lodgement to the ASX by the Bl
Slide 2: FY24 Results Investor Presentation
For personal use only 29 Aug 2024 Investor Presentation FY24 Results COMMERCIAL IN CONFIDENCE
Slide 3: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER Acceptance Effect of rounding This presentation has been prepared by BlueBet Holdings Ltd (ACN 647 124 641) (BlueBet). By accepting, accessing or reviewing this presentation, A number of figures, amounts, percentages, estimates, calculations of value and fractions in th
Slide 4: FY24 Highlights
FY24 HIGHLIGHTS A step change in growth trajectory, underpinned by strong fundamentals Transformational Positive Improved merger with betr Australian financial US Exit trading For personal use only completed performance momentum First step in inorganic Record quarterly Ongoing Australian US exit fol
Slide 5: Rapid Rebrand, Migration and Synergy Realisation
RAPID REBRAND, MIGRATION AND SYNERGY REALISATION The Company has made swift progress since Completion to maximise the value of the combination Successfully migrated betr’s customer base onto the BlueBet platform, providing a material uplift in customer experience Rebranded the consumer facing “BlueB
Slide 6: FY24 Key Metrics Dashboard - Australia
FY24 KEY METRICS DASHBOARD - AUSTRALIA¹ Finishing FY24 with strong momentum in Australia and growth in all key metrics Active 12.1m ↑ ↑ 70,456 (+7.7%) Bet Count Customers2 (+5.1%) For personal use only $591.5m (+11.6%) ↑ ↑ Turnover 10.7% Net Win margin (+0.5pp) 12 Month Rolling $79.5m ↑ ↑ Gross Win
Slide 7: Financials
For personal use only Financials COMMERCIAL IN CONFIDENCE
Slide 8: Group Results - Income Statement
GROUP RESULTS $000's FY24 FY23 – INCOME STATEMENT Turnover (gross of GST) Payouts (gross of GST) Gross Revenue 632,982 -550,915 82,067 536,647 -465,055 71,592 Promotions given (gross of GST) -17,958 -17,664 • Group Turnover up 18% vs. PCP, driven by GST -5,759 -4,906 Wagering Revenue¹ 58,350 49,022
Slide 9: Normalised EBITDA Reconciliation
NORMALISED EBITDA RECONCILIATION Strong Australian performance to outperform the market supports investment in marketing, technology and headcount to underpin future growth • Gross Profit increased 25.1%, driven by Australian Turnover growth of 11.7% with EBITDA FY23 -18,278 For personal use only Ne
Slide 10: Balance Sheet
$000's 30 JUN 2024 30 JUN 2023 BALANCE SHEET Assets Current assets Cash and cash equivalents 24,490 22,695 Trade and other receivables 951 363 Income Tax refund due 44 46 Other assets 1,506 597 Total current assets 26,991 23,701 Non-current assets Investments - 839 Property, plant and equipment 411
Slide 11: Summary of Cash Flows
SUMMARY OF CASH FLOWS • Net Cash used in operating activities was $000's FY24 FY23 ($13.3m) with H2 FY24 being an outflow of Cash flows from operating activities ($2.6m) which was a significant improvement Receipts from customers (Client deposits) 195,209 142,035 on H1 FY24 as the Australian busines
Slide 12: A New Era Begins
For personal use only A New Era Begins COMMERCIAL IN CONFIDENCE
Slide 13: Transformational Merger of BlueBet & betr
TRANSFORMATIONAL MERGER OF BLUEBET & BETR BlueBet and betr to combine to create a profitable, leading Australian wagering operator 1. Materially enhanced scale and increased sustainable base of recreational customers For personal use only 2. Maximising use of BlueBet’s proprietary technology platfor
Slide 14: US Exit to Deliver Laser Focus on Australia
US EXIT TO DELIVER LASER FOCUS ON AUSTRALIA Focusing on our core Australia market where we have a sustainable competitive advantage US market dynamics Creating a leading, have changed Strategic review Australia-focused operator For personal use only • Slower than expected regulation has • As a resul
Slide 15: Successful Customer Migration & Rebrand
SUCCESSFUL CUSTOMER MIGRATION & REBRAND Completed in only 59 days - record time for Australian market Rebrand and Migration successfully executed on For personal use only 28 August betr brand leverages significant investment and younger, sports focused brand positioning All-new app and wagering expe
Slide 16: Migration Confirms Synergy Realisation Timetable
MIGRATION CONFIRMS SYNERGY REALISATION TIMETABLE Successful customer migration in August has allowed earlier realisation of material synergies FY25 JUL 24 AUG 24 SEP 24 OCT 24 NOV 24 DEC 24 JAN 25 FEB 25 MAR 25 APR 25 MAY 25 JUN 25 Synergies IT / TECHNOLOGY PLATFORM For personal use only brought for
Slide 17: All-New Betting Experience
ALL-NEW BETTING EXPERIENCE Rapid product development since Completion has delivered an uplifted experience for all customers Unique Promos 69% ✔ Faster, fresher design delivering speed and ease of use 58% For personal use only Improving the App ✔ Real-time withdrawals 55% ✔ New platform Delivers 8 o
Slide 18: Personalised Promotions & Generosities
PERSONALISED PROMOTIONS & GENEROSITIES The right offer, to the right customer, at the right time For personal use only Tokenised generosity Gives customers personalised Improves Net Win % by delivered to BlueBet promotions and more choice decreasing untargeted platform in August over their offers pr
Slide 19: FY25 H1 Outlook
FY25 H1 OUTLOOK JUL AUG SEP OCT NOV DEC Cash preservation – preparation for migration Drive increased engagement and momentum Emerging profitability at scale • Legacy betr platform has ~3x higher promotional • Period of heavy investment to migrate betr • Retaining valuable customers, with product co
Slide 20: In Conclusion
IN CONCLUSION The Company closes FY24 with record performance in the ongoing Australian business and a compelling platform for growth • Completed our transformational merger with betr as the first major step in our ambitious inorganic growth agenda For personal use only • Delivered a successful Cust
Slide 21: For personal use only
For personal use only COMMERCIAL IN CONFIDENCE