betr Entertainment reports 19.1% Q1 turnover growth
Key points
- betr Entertainment reported a 19.1% increase in first-quarter turnover, reaching $432.3 million.
- The company reaffirmed its full-year normalised EBITDA guidance of $13 million to $19 million.
- Management highlighted customer growth driven by new product offerings heading into the spring racing season.
betr Entertainment (ASX:BBT) delivered a 19.1% year-on-year increase in first-quarter turnover to $432.3 million for the three months ended Sept. 30.
This turnover expansion contrasts with a drop in gross win margin to 12.4% from 14.3% in the previous corresponding period due to customer-friendly outcomes.
“We’re very pleased with the growth we experienced in Q1 with our investment in product and brand converting to desirable customer activity heading into spring,” said betr Entertainment CEO Andrew Menz.
Net win for the quarter edged up 1% to $38.4 million, while total financial year-to-date turnover reached $568.5 million.
Management reaffirmed its FY27 guidance of normalised EBITDA between $13 million and $19 million alongside positive operating cash flow.
Following the announcement, the betr Entertainment share price was unchanged at $0.13.
The wagering operator noted that win margins rebounded in October following the softer first-quarter hold rates.
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