Betr Entertainment Limited · ASX:BBT
Betr Entertainment — Investor Presentation (January 2024)
20 slides from Betr Entertainment's investor 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 This announcement has been authorised for lodgement to the ASX by t
Slide 2: Q2 FY24 Investor Presentation & Appendix 4C
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 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; $3m loan Record quart
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 3.3 million 71,789 Bet Count Active Customers2 (+9.0%) (+19.0%) $168.7 million 9.7% Turnover Net Win margin (+14.2%) (+0.4pp) $22
Slide 6: Australian Trading Business
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 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 Q2 FY23 Q2 FY24 Q2 $21
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 +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 26,824 25,540 23,927 4.2
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 $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 $80.4m $33.6m $11.5m $2
Slide 10: Mobile-First Focus
MOBILE-FIRST FOCUS1 Mobile Turnover now 68% of total; margin increasing to 11.7% Turnover ($ million) by channel (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% 2.2 2.9 iPhone Website
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 • Increased investment in paid digital channels Q2 FY24 H
Slide 12: US Market Entry
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 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 base • Continued executi
Slide 14: Louisiana Launch
LOUISIANA LAUNCH Go-live announced on 30 January 2024 • 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
Slide 15: Financials
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 Cash flows from operating activities • Net cash used in operating activities includes ($4.5m) invested in US market entry Rec
Slide 17: Q3 FY24 Priorities
Q3 FY24 PRIORITIES 16
Slide 18: Q3 FY24 Priorities
Q3 FY24 PRIORITIES Continue strong business momentum in Australia and the US 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 margins Continue the evo
Slide 19: Update on Strategic Initiatives
UPDATE ON STRATEGIC INITIATIVES • BlueBet continues to demonstrate strong trading performance. Existing cash reserves and loan facility provide financial flexibility, with further levers to pull if required • As disclosed on January 5, BlueBet remains in ongoing strategic discussions with third part
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