Betr Entertainment Limited · ASX:BBT
Betr Entertainment — BlueBet Holdings — Q3 FY2024 Earnings Presentation
22 slides from Betr Entertainment's earnings presentation, Apr 24, 2024
Slide 1: ASX Announcement: 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 For personal use only This announcement has been authorised for lodge
Slide 2: Q3 FY24 Investor Presentation & Appendix 4C
For personal use only 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 For personal use only 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 profi
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 For personal use only 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
Slide 6: Australian Trading Business
For personal use only 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 For personal use only 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 $
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 For personal use only +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,
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 For personal use only $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% $119.1m Q3
Slide 10: Mobile-First Focus
MOBILE-FIRST FOCUS1 Mobile Turnover 65% of total; margin increasing to 12.7% Turnover ($ million) by channel For personal use only (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%
Slide 11: Australian Marketing Activity
AUSTRALIAN MARKETING ACTIVITY Continue to drive marketing efficiencies Focus for remainder of FY24 Drive acquisition through Paid Digital channels For personal use only Increased customer value • Customer acquisition via paid social, search, programmatic and affiliates. Q3 FY24 Highlights: Social Co
Slide 12: US Market Entry
For personal use only US MARKET ENTRY 11
Slide 13: Update on US Operations: Maiden US B2B Partnership in Ohio
UPDATE ON US OPERATIONS Significant milestone with maiden US B2B Sportsbook partnership in Ohio For personal use only 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 pr
Slide 14: Update on US Operations: Iowa, Colorado and Louisiana
UPDATE ON US OPERATIONS Gaining traction in Iowa & Colorado with Louisiana launched in January 2024 AUD $m Q3 FY24 Q3 FY23 For personal use only 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 acqu
Slide 15: Financials
For personal use only 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 For personal use only Cash flows from operating activities • First positive quarterly cash flow generated since IPO driven by accelerated
Slide 17: Transformational Merger with betr
TRANSFORMATIONAL MERGER For personal use only 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 For personal use only 1. Including synergies, excluding one-off transaction and synergy realisation costs. 6 17
Slide 19: Strategic Rationale
STRATEGIC RATIONALE For personal use only 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
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 For personal use only 1. An Active Customer is defined in 2 ways: (1) In the case of BlueBet, Australian customers that have placed a cash b
Slide 21: Timetable
TIMETABLE Date Event For personal use only 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
Slide 22: For personal use only
For personal use only 21