Betr Entertainment Limited · ASX:BBT
Betr Entertainment — BlueBet Holdings — FY2021 Earnings Presentation
25 slides from Betr Entertainment's earnings presentation, Aug 31, 2021
Slide 1: FY2021 Annual Results & Investor Presentation
For personal use only FY2021 ANNUAL RESULTS & INVESTOR PRESENTATION August 2021 FY2021 ANNUAL RESULTS & INVESTOR PRESENTATION 1 AUGUST 2021
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: Key Highlights
KEY HIGHLIGHTS For personal use only Beat Prospectus Strong top line growth, achieving FY21 Turnover of $344.7 million (up 83.3% on the forecasts on all key PCP) with Net Win of $35.6 million (up 92.5% on the PCP) metrics as well as strong year on year growth. Underlying EBITDA¹ of $7.5 million (up
Slide 4: FY21 Key Metrics Dashboard versus PCP
FY21 KEY METRICS DASHBOARD VERSUS PCP For personal use only BlueBet has delivered impressive growth 6.5 million 32,472 Bet Count Active Customers¹ across all key (+89.3% on PCP) (+45.7% on PCP) metrics in FY21 and carries great momentum into FY22. $35.6 million 10.3% Net Win Net Win margin (+92.5% o
Slide 5: FY21 Key Metrics versus Prospectus
FY21 KEY METRICS VERSUS PROSPECTUS For personal use only Across all key metrics BlueBet delivered a result 6.5 million 32,472 Bet Count Active Customers¹ above FY21 (+1.3%) (+16.3%) prospectus forecast. $35.6 million 10.3% Net Win Net Win margin (+3.0%) (inline) $344.7 million $214 Turnover Cost per
Slide 6: Strong Growth Across All Key Metrics
STRONG GROWTH ACROSS ALL KEY METRICS For personal use only FY20 FY21 PCP 32,472 Net Win increased by 92.5% to $35.6 million. This 22,289 ACTIVE CUSTOMERS¹ +45.7% increase was driven by: Q4 FY20 Q4 FY21 • Turnover: increased 83.3% from $188.1 million to $344.7 $344.7m million in FY21, driven by a 195
Slide 7: Active Customers and Bet Count
ACTIVE CUSTOMERS¹ AND BET COUNT For personal use only +45.7% on PCP +33.2% on PCP Momentum in 1,894,441 32,472 customer acquisition continues ahead of 1,654,254 investment in incremental marketing 25,540 26,824 1,506,270 expenditure which has 23,927 1,421,802 1,397,594 delivered a step 22,289 change
Slide 8: Australian Trading Business
For personal use only AUSTRALIAN TRADING BUSINESS FY2021 ANNUAL RESULTS & INVESTOR PRESENTATION 8 AUGUST 20218
Slide 9: Turnover by Product
TURNOVER BY PRODUCT For personal use only Impressive growth across all product offerings with sport growing at the highest rate from a COVID FY21 $344.7m disrupted calendar Thoroughbred $174.2m Greyhound $91.0m Harness $32.0m Sport Turnover (FY21) $47.5m 2020. 51% 26% 9% 14% +75.6% +91.6% +93.9% +97
Slide 10: Mobile First Focus & Customer Acquisition
MOBILE FIRST FOCUS & CUSTOMER ACQUISITION For personal use only 62% of Turnover came Turnover ($ million) and Net Win (%) by channel 5.1x (FY20-FY21) $1,095 from mobile apps in FY21. This channel 200 182.0 continues to grow and yields a higher margin 180 11.7% 7.5x +95% $830 than web or call centre
Slide 11: Australian Marketing Strategy
AUSTRALIAN MARKETING STRATEGY For personal use only Our new brand ABOVE THE LINE campaign is an • Increase investment in marketing will see adaptation of the upweighted media spend led by recently filmed “The Aussie Way” and “Aussies love to Multi” ad successful ‘Bluu-ee’ campaigns which will turboc
Slide 12: Australian Marketing Strategy
AUSTRALIAN MARKETING STRATEGY For personal use only Focus on accelerated BELOW THE LINE growth through key • An increase in digital marketing investment will acquisition periods & see accelerated growth from strategic targeted continual promotion of paid media buying across sporting & news high marg
Slide 13: Financials
For personal use only FINANCIALS FY2021 ANNUAL RESULTS & INVESTOR PRESENTATION 13 13 AUGUST 2021
Slide 14: Group Results – Income Statement
GROUP RESULTS – INCOME STATEMENT For personal use only $000'S FY21 FY20 Wagering revenue Turnover 313,394 170,969 growth of 92.5% as a Payouts (273,189) (150,106) result of the team Gross Revenue 40,206 20,863 executing on our Promotions given (7,854) (4,054) Wagering Revenue¹ 32,351 16,809 strategy
Slide 15: Balance Sheet
BALANCE SHEET For personal use only $000'S FY21 FY20 The business is in a Assets Current assets strong position Cash and cash equivalents 56,104 4,742 Trade and other receivables 188 7 following the highly Other assets 483 3 successful IPO to Total current assets Non-current assets 56,775 4,752 exec
Slide 16: Summary of Cash Flows
SUMMARY OF CASH FLOWS For personal use only Strong operating cash $000'S FY21 FY20 Cash flows from operating activities flows demonstrating Receipts from customers (Client deposits) 83,108 42,831 the focused and Payments to customers (Client withdrawals) (46,465) (24,577) disciplined execution Payme
Slide 17: US Market Entry
For personal use only US MARKET ENTRY FY2021 ANNUAL RESULTS & INVESTOR PRESENTATION 17 17 AUGUST 2021
Slide 18: Current State of Play in US
CURRENT STATE OF PLAY IN US For personal use only Currently 21 states + DC Legal sports betting in the USA with Live Sports Betting. Is Legal in 10 states but not yet operational. Live and legal Active or Pre-Filed Legislation in 3 states. Legal, not yet operational Industry commentators see >40 sta
Slide 19: US Online Sportsbook Sector Exceeding Forecasts
US ONLINE SPORTSBOOK SECTOR EXCEEDING FORECASTS For personal use only • Morgan Stanley’s recent 2025 market size forecast is 2x its Evolution of Morgan Stanley’s 2025 US Sports Betting Market Analysts and Forecast (US$B)2 original estimate as wagering has continued to exceed Operators have expectati
Slide 20: US Online Sports Betting Markets Continue to Grow
US ONLINE SPORTS BETTING MARKETS CONTINUE TO GROW For personal use only US Sports betting dominated by NFL, New Jersey Betting Handle 2018-2021 NBA and College $1,200,000,000 Basketball. $1,000,000,000 FYQ2 sees all 3 sports $800,000,000 kick off their regular seasons & wagering $600,000,000 activit
Slide 21: Target States Growing Strongly
TARGET STATES GROWING STRONGLY For personal use only Key states selected for initial US market IOWA - With a US$m Iowa Handle1 VIRGINIA- Looking US$m Virginia Handle population of a little at the first three seeing betting starting 350 350 more than three million monthly revenue 300 300 people, Iowa
Slide 22: M&A Highlights Our Strategic Value
M&A HIGHLIGHTS OUR STRATEGIC VALUE For personal use only Large scale M&A The primary drivers of M&A activity in the U.S. activity in US sports sports betting industry continues to be access to betting sector as technology, to customers, and to markets/licenses companies look to secure customers, Tar
Slide 23: US Market Strategy Remains Unchanged
US MARKET STRATEGY REMAINS UNCHANGED For personal use only Remain agile and proactively seek out Targeting up to five priority US States for initial market entry as new opportunities to grow our footprint to straight B2C wagering provider, establishing an initial footprint take advantage of the dyna
Slide 24: Questions?
For personal use only QUESTIONS? FY2021 ANNUAL RESULTS & INVESTOR PRESENTATION 24 24 AUGUST 2021
Slide 25: For personal use only
For personal use only FY2021 ANNUAL RESULTS & INVESTOR PRESENTATION 25 AUGUST 2021