Publicly listed bookmaker betr has delivered on its promise of a positive full-year result, confirming expectations of an EBITDA of around $7 million in a year where it completed a merger and a significant acquisition.
At the start of 2024/25, BlueBet and betr merged, with the new entity later changing its publicly facing and corporate brand to betr. It then undertook an acquisition of TopSport as part of ambitious strategy to build inorganically to at least 10 per cent of the Australian market.
The last quarter of the financial year was dominated by the takeover process involving rival PointsBet, after betr secured 19.9 per cent of that company, which is also at the centre of an acquisition play from Japanese company MIXI.
While the outcome of that planned acquisition remains uncertain, betr has confirmed that its pursuit of PointsBet hasn’t impacted its ambitions to reach profitability, with EBITDA expected to be in the range of $6.9 million to $7.1 million when final results are announced at the end of this month.
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