Betr Entertainment Limited · ASX:BBT
Betr Entertainment — Investor Presentation (April 2024)
22 slides from Betr Entertainment's investor presentation, Apr 24, 2024
Slide 1: Q3 FY24 Quarterly Results & Investor Presentation
ASX Announcement (ASX:BBT) 24 April 2024 Q3 FY24 Quarterly Results & Investor Presentation BlueBet Holdings Limited (ASX:BBT) (BlueBet or the Company) is pleased to provide the attached Q3 FY24 Investor presentation. AUTHORISATION This announcement has been authorised for lodgement to the ASX by the
Slide 2: Q3 FY24 Investor Presentation & Appendix 4C
Q3 FY24 INVESTOR PRESENTATION & APPENDIX 4C April 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: Q3 FY24 Highlights
Q3 FY24 HIGHLIGHTS BlueBet delivers maiden cash flow positive quarter since IPO as market share growth accelerates Group’s first ever cash Turnover up 26.1% Active Customers2 Strong Net Win margin flow positive quarter in Q3 to $151.6m up 13.7% to 73,089 of 10.8% Focus on profitability and strong Re
Slide 5: Group Key Metrics Dashboard - Q3 FY24
GROUP¹ KEY METRICS DASHBOARD - Q3 FY24 Market share gains and trading outperformance drives strong growth and Net Win 2.9 million 73,089 Bet Count Active Customers2 (+9.9%) (+13.7%) $151.6 million 10.8% Turnover Net Win margin (+26.1%) (+0.8pp) $19.5 million $250 Gross Win Cost (+23.4%) per First ti
Slide 6: Australian Trading Business
AUSTRALIAN TRADING BUSINESS 5
Slide 7: Australia Key Metrics – Q3 FY24
AUSTRALIA KEY METRICS – Q3 FY24 Accelerating growth momentum and strong Net Win Margin Q3 FY23 Q3 FY24 PCP YTD FY23 YTD FY24 PCP 63,118 67,732 ACTIVE +7.3% CUSTOMERS¹ FY23 Q3 FY24 Q3 $139.6m $438.3m $398.4m $119.1m TURNOVER +17.2% +10.0% FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 $18.7m $15.8m $52.1m $58.7m GR
Slide 8: Record Active Customers and Bet Count
RECORD ACTIVE CUSTOMERS AND BET COUNT1 Active Customers up 7.3% to 67,732 12-month rolling Bet Count over 11.9m +7.3% on PCP +4.8% on PCP 67,732 67,391 11.9 66,526 11.6 11.5 11.7 65,415 11.4 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 26,824 25,540
Slide 9: Turnover by Product
TURNOVER BY PRODUCT1 Outperforming the market with Turnover up 17.2% to $139.6m, driven by strong growth in Sport & Greyhounds $139.6m Q3 FY24 Turnover Thoroughbred Greyhound Harness Sport $65.2m $33.0m $9.1m $32.3m (Q3 FY24) 47% 24% 7% 23% +6.4% +22.2% (1.0%) +48.0% $119.1m Q3 FY23 Turnover $61.3m
Slide 10: Mobile-First Focus
MOBILE-FIRST FOCUS1 Mobile Turnover 65% of total; margin increasing to 12.7% Turnover ($ million) by channel (Q3 FY23 – Q3 FY24) Net Win Margin % by channel (Q3 FY23 – Q3 FY24) +15.8% 77.0 12.7% 12.9% 12.1% 66.2 11.1% 11.2% +28.3% 46.7 8.4% 7.8% 36.5 5.7% -6.3% 14.5 13.6 +14.6% 2.0 2.3 iPhone Websit
Slide 11: Australian Marketing Activity
AUSTRALIAN MARKETING ACTIVITY Continue to drive marketing efficiencies Focus for remainder of FY24 Drive acquisition through Paid Digital channels Increased customer value • Customer acquisition via paid social, search, programmatic and affiliates. Q3 FY24 Highlights: Social Content Strategy increas
Slide 12: US Market Entry
US MARKET ENTRY 11
Slide 13: Update on US Operations
UPDATE ON US OPERATIONS Significant milestone with maiden US B2B Sportsbook partnership in Ohio Update on US operations B2B Sportsbook-as-a-Solution Offer Stage 1 of ‘Capital-Lite’ US market entry complete with foothold and State of Ohio Online Sports Betting clear path to profitability in all thr
Slide 14: Update on US Operations
UPDATE ON US OPERATIONS Gaining traction in Iowa & Colorado with Louisiana launched in January 2024 AUD $m Q3 FY24 Q3 FY23 Turnover/Handle 12.0 1.1 Gross Win 0.8 0.0 Net Win 0.5 - Bet Count 64,799 12,110 Successful Louisiana launch in February ahead of Superbowl • Targeted acquisition plan, focused
Slide 15: Financials
FINANCIALS 14
Slide 16: Summary of Quarterly Cash Flows
SUMMARY OF QUARTERLY CASH FLOWS Accelerating growth and focus on profitability delivers first positive quarterly cash flow Q3 cash flow highlights $000'S Q3 FY24 Cash flows from operating activities • First positive quarterly cash flow generated since IPO driven by accelerated Receipts from customer
Slide 17: Transformational Merger with betr
TRANSFORMATIONAL MERGER WITH BETR 16
Slide 18: Transformational Merger of BlueBet & betr
TRANSFORMATIONAL MERGER OF BLUEBET & BETR BlueBet and betr to combine to create a profitable, leading Australian wagering operator 1. Including synergies, excluding one-off transaction and synergy realisation costs. 6 17
Slide 19: Strategic Rationale
STRATEGIC RATIONALE 1. For the six months ending 31 December 2023. BlueBet includes Australian customers only. 2. An Active Customer is defined in 2 ways: (1) In the case of BlueBet, Australian customers that have placed a cash bet in the 12 months to 31 December 2023. (2) For betr, customers that p
Slide 20: Creating a Bigger, Better Betting Company
CREATING A BIGGER, BETTER BETTING COMPANY Combining betr’s large customer database with BlueBet’s modern technology platform and loyal Active Customer database 1. An Active Customer is defined in 2 ways: (1) In the case of BlueBet, Australian customers that have placed a cash bet in the 12 months to
Slide 21: Timetable
TIMETABLE Date Event Wednesday, 10 April 2024 • Trading Halt Thursday, 11 April 2024 • Announcement of the Proposed Merger and Placement Thursday, 11 April 2024 • Bookbuild for the Placement Friday, 12 April 2024 • Announce completion of Placement and return to trading on ASX Friday, 19 Ap
Slide 22: 21
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