Two prominent entities in the realm of internet wagering, Better Collective and Gambling.com Group, recently unveiled their fiscal outcomes for the third quarter of 2023. Although both organizations witnessed revenue growth, Better Collective distinguished itself by elevating both its revenue and EBITDA, an indicator of financial success. Conversely, Gambling.com Group encountered a decrease in EBITDA.
Better Collective garnered a substantial €75.4 million (roughly $81.9 million), eclipsing Gambling.com Group’s $23.5 million. This disparity wasn’t entirely unforeseen, given Better Collective’s industry giant status. Their acquisition spree, aimed at expanding their footprint, necessitates a larger revenue flow for support. This quarter alone, they procured Playmaker Capital to delve deeper into the North American market and even secured a dual listing on the Nasdaq Copenhagen Stock Exchange – a testament to their ambition.
To grasp their comparative standings, examining their year-over-year growth rates proves insightful. Gambling.com Group achieved a commendable 19% revenue surge, yet it was overshadowed by Better Collective’s impressive 26.3% leap, ascending from €59.7 million to €75.4 million.
The disparity in EBITDA performance is even more pronounced. Gambling.com Group experienced a 6% decline, while Better Collective relished a 34.6% increase.
Nevertheless, dismissing Gambling.com Group would be premature. They persist as a formidable presence within the online gambling sphere.
The Gambling.com Group experienced a remarkable Q3 in 2023, characterized by substantial increases in revenue. This robust showing highlights the company’s leading presence within the internet gaming sector, a standing further bolstered by considerable internal expansion.
Charles Gillespie, chief executive and co-founder, remarked on the figures, conveying optimism in Gambling.com Group’s sustained achievements, referencing “multiple short- and extended-term lucrative natural development prospects.”