Betr Entertainment Limited · ASX:BBT
Betr Entertainment — BlueBet Holdings — H1 FY2022 Earnings Presentation
28 slides from Betr Entertainment's earnings presentation, Feb 25, 2022
Slide 1: H1 FY2022 Results & Investor Presentation
For personal use only H1 FY2022 RESULTS & INVESTOR PRESENTATION February 2022 H1 FY2022 RESULTS & INVESTOR PRESENTATION 1 FEBRUARY 2022
Slide 2: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER For personal use only Acceptance Effect of rounding This presentation has been prepared by BlueBet Holdings Ltd (ACN 647 124 641) (BlueBet). A number of figures, amounts, percentages, estimates, calculations of value and fractions in this presentation are subject to the
Slide 3: Delivering on Our Commitments
DELIVERING ON OUR COMMITMENTS For personal use only In six months since listing on the ASX we have consistently delivered on our Deploying Deploying IT A strong US Market Prospectus Business Marketing and Platform Entry Funds Funds commitments Successful IPO Launched new New AUS Website Iowa
Slide 4: H1 FY22 Key Highlights
H1 FY22 KEY HIGHLIGHTS For personal use only Beat Prospectus Strong top line growth, with Turnover up 60.5% to $264.5 million and Net Win up 68.4% to $28.6 forecasts on all key million in the half with momentum continuing into Q3 FY22 metrics and delivered strong year on year EBITDA and net cash out
Slide 5: H1 FY22 Key Metrics Dashboard versus PCP
H1 FY22 KEY METRICS DASHBOARD VERSUS PCP1 For personal use only Delivered strong growth across all key metrics in H1, carrying significant 5.4 million 45,087 Bet Count Active Customers2 momentum heading (+76.5%) (+76.5%) into H2 $28.6 million 10.8% Net Win Net Win margin (+68.4%) (+0.5pp) $264.5 mil
Slide 6: H1 FY22 Key Metrics versus Prospectus
H1 FY22 KEY METRICS VERSUS PROSPECTUS1 For personal use only Beat Prospectus forecasts for H1 FY22 across all key metrics 5.4 million 45,087 Bet Count Active Customers1 (+22.9%) (+13.1%) $28.6 million 10.8% Net Win Net Win margin (+28.1%) (+0.6pp) $264.5 million $292 12 Month Rolling Cost Turnover p
Slide 7: Strong Growth Across All Key Metrics
STRONG GROWTH ACROSS ALL KEY METRICS For personal use only H1 FY21 H1 FY22 PCP • Net Win increased by 68.3% to $28.6 million, 45,087 driven by: 25,540 ACTIVE CUSTOMERS¹ +76.5% • Turnover increased by 60.5% to $264.5 million, driven by a 224.1% increase in H1 FY21 H1 FY22 $264.5m marketing & advertis
Slide 8: Active Customers and Bet Count
ACTIVE CUSTOMERS¹ AND BET COUNT For personal use only +76.5% on PCP +76.5% on PCP Strong momentum in customer acquisition 45,087 2,747,643 2,638,108 continues as increased marketing 39,195 investment leads to a step change in bet count 32,472 1,894,441 1,654,254 26,824 25,540 1,506,270 23,927 1,421,
Slide 9: Australian Trading Business
For personal use only AUSTRALIAN TRADING BUSINESS H1 FY2022 RESULTS & INVESTOR PRESENTATION 9 FEBRUARY 20229
Slide 10: H1 Turnover by Product
H1 TURNOVER BY PRODUCT For personal use only Strong growth across all product offerings H1 $264.5m FY22 Thoroughbred Greyhound Harness Sport Turnover (H1 $136.9m $72.7m $24.3m $30.6m FY22) 52% 27% 9% 12% +59.5% +61.9% +61.1% +63.0% H1 $164.7m FY21 $85.9m $44.9m $15.1m$18.8m Turnover (H1 FY20) 52% 27
Slide 11: Mobile First Focus
MOBILE FIRST FOCUS For personal use only 66% of Turnover came Turnover ($ million) by channel Net Win Margin % by channel (H1 FY21 – H1 FY22) (H1 FY21 – H1 FY22) from mobile apps in H1, the highest growth 148.1 and highest margin channel 11.7% 11.7% 11.4% 11.9% +75% 9.2% 8.6% 84.6 83.6 +41% 5.8% 59.
Slide 12: Annual Value & Cost of Acquisition
ANNUAL VALUE & COST OF ACQUISITION For personal use only Cost per First Time $1,119 Depositor increased to $1,044 $292 in a competitive market, with BlueBet competing effectively with its digital strategy Annual Customer Value to Cost to Acquire a First Time Depositor ratio was 3.6x, providing attra
Slide 13: Australian Marketing & Positioning
AUSTRALIAN MARKETING & POSITIONING For personal use only BlueBet brand positioned as the ‘true blue bookie’ of choice through its ‘Aussie Way’ TVC campaign, recently complemented with the ‘Aussies love to multi’ campaign to promote high margin multi products H1 FY2022 RESULTS & INVESTOR PRESENTATION
Slide 14: Financials
For personal use only FINANCIALS H1 FY2022 RESULTS & INVESTOR PRESENTATION 14 14 FEBRUARY 2022
Slide 15: Group Results – Income Statement
GROUP RESULTS – INCOME STATEMENT For personal use only H1 FY22 H1 FY21 Wagering revenue $000'S Turnover 240,441 149,785 growth of 68.4% as the Payouts (207,292) (130,609) team executed our Gross Revenue 33,149 19,176 strategy of customer Promotions given (7,146) (3,733) acquisition, retention Wageri
Slide 16: EBITDA Reconciliation
EBITDA RECONCILIATION For personal use only BlueBet’s Australian Statutory EBITDA H1 FY21 4,664 • Gross profit increased 64.0% driven by 60.5% business has Listed public company costs (200) increase in Turnover and 0.5pp increase in Net continued to scale, Margin % Director and key employee costs (2
Slide 17: Balance Sheet
BALANCE SHEET For personal use only $000'S 31 DEC 2021 30 JUN 2021 Business in a strong Assets Current assets position following Cash and cash equivalents 55,382 56,104 Trade and other receivables 73 188 successful IPO capital Other assets 982 570 raise to execute dual- Total current assets Non-curr
Slide 18: Summary of Cash Flows
SUMMARY OF CASH FLOWS For personal use only Strong operating cash $000'S 31 DEC 2021 31 DEC 2020 Cash flows from operating activities flows which included a Receipts from customers (Client deposits) 65,406 39,960 step change increase Payments to customers (Client withdrawals) (36,717) (22,353) in ma
Slide 19: US Market Entry
For personal use only US MARKET ENTRY H1 FY2022 RESULTS & INVESTOR PRESENTATION 19 19 FEBRUARY 2022
Slide 20: US Market Strategy Remains Unchanged
US MARKET STRATEGY REMAINS UNCHANGED For personal use only Recent trends in the US reinforce our Targeting up to five priority US States for initial market entry as confidence in our “capital lite” market straight B2C wagering provider, establishing an initial footprint entry strategy will provide t
Slide 21: US Market Entry Status
US MARKET ENTRY STATUS For personal use only US market entry Stage 1 – B2C Offering Stage 2 – Sportsbook-as-a-Solution strategy unchanged with progress made in our disciplined Stage 1 B2C offering ahead of progressing Demonstrate Establish initial Partner with US Partner with US the “capital lite” e
Slide 22: B2C: US Market Entry
B2C: US MARKET ENTRY For personal use only BlueBet’s B2C entry IOWA COLORADO INDIANA LOUISIANA TENNESSEE MISSOURI criteria for market Market Access Secured Under Consideration access focuses on the Population 3.2m 5.9m 6.8m 4.6m 6.9m 6.1m following to ensure • First mobile • First mobile • First mob
Slide 23: Key US Vendor Relationships Established
KEY US VENDOR RELATIONSHIPS ESTABLISHED For personal use only Key relationships established with US technology vendors which are being incorporated into the new US platforms H1 FY2022 RESULTS & INVESTOR PRESENTATION 23 FEBRUARY 2022
Slide 24: Outlook
For personal use only OUTLOOK H1 FY2022 RESULTS & INVESTOR PRESENTATION 24 24 FEBRUARY 2022
Slide 25: Remaining Focused on Our Vision – Australia
REMAINING FOCUSED ON OUR VISION For personal use only AUSTRALIA Momentum to continue into H2 as we aggressively increase market share and deliver customer and revenue growth Responsibly deploy IPO Capital with targeted increased marketing and advertising spend whilst remaining focused on our mobile
Slide 26: Remaining Focused on Our Vision – North America
REMAINING FOCUSED ON OUR VISION For personal use only Remain agile and responsibly deploy IPO Capital NORTH AMERICA as we execute Stage 1 (B2C) market entry ahead of pursuing the “capital lite” Stage 2 (Sportsbook- as-a-solution) opportunity Expand market access to have 3-5 markets licenced and oper
Slide 27: Questions?
For personal use only QUESTIONS? H1 FY2022 RESULTS & INVESTOR PRESENTATION 27 27 FEBRUARY 2022
Slide 28: For personal use only
For personal use only H1 FY2022 RESULTS & INVESTOR PRESENTATION 28 FEBRUARY 2022