Betr Entertainment Limited · ASX:BBT
Betr Entertainment — BlueBet Holdings — Q1 FY24 Earnings Presentation
24 slides from Betr Entertainment's earnings presentation, Oct 31, 2023
Slide 1: ASX Announcement: Q1 FY24 Quarterly Results & Investor Presentation
ASX Announcement (ASX:BBT) 31 October 2023 Q1 FY24 Quarterly Results & Investor Presentation BlueBet Holdings Limited (ASX:BBT) (BlueBet or the Company) is pleased to provide the attached Q1 FY24 Investor presentation. AUTHORISATION For personal use only This announcement has been authorised for lod
Slide 2: Q1 FY24 Investor Presentation & Appendix 4C
For personal use only Q1 FY24 INVESTOR PRESENTATION & APPENDIX 4C October 2023 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: Q1 FY24 Highlights
Q1 FY24 HIGHLIGHTS Outperforming in Australia and making progress in the US, with ongoing product investment delivering significant enhancements For personal use only Active Customers¹ up Turnover up 13.1% Robust Net Win 53.7% increase 25.4% to 68,884 to $150.7m of 9.6% in AU Sport Turnover Continue
Slide 5: Group Key Metrics Dashboard - Q1 FY24
GROUP¹ KEY METRICS DASHBOARD - Q1 FY24 Market share gains driving strong growth in Active Customers and Turnover For personal use only 3.0 million 68,884 Bet Count Active Customers2 (+0.5%) (+25.4%) $150.7 million 9.6% Turnover Net Win margin (+13.1%) (-0.5pp) $19.0 million $413 Gross Win Cost (+6.7
Slide 6: Australian Trading Business
For personal use only AUSTRALIAN TRADING BUSINESS 5
Slide 7: Australia Key Metrics - Q1 FY24
AUSTRALIA KEY METRICS - Q1 FY24 Strong performance with market share gains and robust Net Win margin FY22 FY23 PCP For personal use only 66,526 54,915 ACTIVE +21.1% • Turnover up 8.4% to $143.9m, driven by 21.1% CUSTOMERS¹ increase in Active Customers to 66,526 FY23 Q1 FY24 Q1 $143.9m $132.8m • Disc
Slide 8: Record Active Customers and Bet Count
RECORD ACTIVE CUSTOMERS AND BET COUNT1 Active Customers up 21.1% to 66,526 12-month rolling Bet Count over 11.5m +21.1% on PCP For personal use only 65,415 66,526 +5.4% on PCP 63,118 59,632 11.6 11.5 11.4 11.2 54,920 11.0 53,328 10.6 49,556 9.7 45,087 8.8 39,195 7.7 32,472 6.5 6.0 26,824 25,540 5.1
Slide 9: Turnover by Product
TURNOVER BY PRODUCT1 Outperforming the market with Turnover up 8.4% to $143.9m, driven by strong growth in Sport For personal use only $143.9m Q1 FY24 Turnover Thoroughbred Greyhound Harness Sport $66.5m $35.6m $10.9m $30.9m (Q1 FY24) 46% 25% 8% 21% +5.3% -2.6% -15.8% +53.7% $132.8m Q1 FY23 Turnover
Slide 10: Mobile-First Focus
MOBILE-FIRST FOCUS1 Mobile Turnover up to 70% of total, with margin remaining strongest at 10.9% For personal use only Turnover ($ million) by channel Net Win Margin % by channel (Q1 FY23 – Q1 FY24) (Q1 FY23 – Q1 FY24) +13.4% 83.6 11.9% 73.7 11.3% 10.5% 10.6% 9.2% 8.2% 8.0% +0.6% 40.9 41.1 5.7% +2.6
Slide 11: Marketing Highlights
MARKETING HIGHLIGHTS Launch of new brand campaign, refreshed brand design and focus on customer value driving initiatives • Launched new “Home Grown Bookie” brand campaign featuring well-known media and sports For personal use only Enhanced CRM personality Matt Nable across BVOD, Online Video, Radio
Slide 12: US Market Entry
For personal use only US MARKET ENTRY 11
Slide 13: US Market Entry
US MARKET ENTRY ClutchBet up and running in Iowa and Colorado, targeting Louisiana go-live in October 2023 and Indiana in January 2024 AUD $m Q1 FY24 Q1 FY23 For personal use only Turnover/Handle 6.8 0.2 Gross Win 0.2 - Net Win -0.1 -0.1 Bet Count 28,705 949 • 62% live wagers / 38% pre-match wagers
Slide 14: Louisiana Launch
LOUISIANA LAUNCH For personal use only • Planned marketing promotions • 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 insurance, when 1 leg loses • Launch of a
Slide 15: Product Enhancements
PRODUCT ENHANCEMENTS For personal use only 14
Slide 16: Financials
For personal use only FINANCIALS 15
Slide 17: Summary of Quarterly Cash Flows
SUMMARY OF QUARTERLY CASH FLOWS • Net Cash used in $000'S Q1 FY24 operating activities was For personal use only Cash flows from operating activities ($3.0m) after investing Receipts from customers (Client deposits) 41,532.5 ($2.9m) in US Payments to customers (Client withdrawals) (26,822.6) Payment
Slide 18: Technology Platform
For personal use only TECHNOLOGY PLATFORM 17
Slide 19: BlueBet Global Platform
BLUEBET GLOBAL PLATFORM IOWA Centralised feed Satellites can function independently as and when required and meet management, event compliance for jurisdictional For personal use only regulations and privacy administration, pricing and risk management B2B 1 EVENT COLORADO Multiple brands and Satelli
Slide 20: BlueBet Global Platform
BLUEBET GLOBAL PLATFORM For personal use only 19
Slide 21: Sportsbook as a Solution (B2B Offer)
SPORTSBOOK AS A SOLUTION (B2B OFFER) Technology investment • BlueBet offers a full turnkey Sportsbook-as-a-Solution for B2B partners, providing access to decades of experience provides strong running profitable sportsbooks and developing market-leading gaming technology For personal use only platfor
Slide 22: FY24 Q2 Priorities
For personal use only FY24 Q2 PRIORITIES 21
Slide 23: Q2 Priorities
Q2 PRIORITIES Strategic execution to achieve scale in Australia and US For personal use only B2C progress with growth in 2 live states and Outperform and grow market share go-live in Louisiana BlueBet Global Platform to drive scale and US product enhancements including operational efficiencies Hyper
Slide 24: For personal use only
For personal use only 23