Surges Forward with Impressive Growth Despite Bet-at-home’s Struggles
Betclic Everest Group has experienced a notable surge in new players, leading to substantial double-digit revenue and earnings growth in the year to date. This growth trajectory has been particularly impressive considering the challenges faced by its Bet-at-home brand.
The group’s revenue soared to €718.5m for the nine months ending September 30, marking a 21.3% year-on-year increase at constant currencies. Q3 alone witnessed a 17.3% revenue uptick. This exceptional performance spans across all segments, with Sportsbook, comprising 78% of the revenue, and Online Casino, experiencing a significant 48.7% growth.
The standout performer has been the Betclic brand, which drove the group’s growth, contrasting with Bet-at-home’s revenue guidance cut due to unfavorable sports results. Betclic’s revenue spiked by 24%, while Bet-at-home saw a 14% decline. Moreover, the group’s focus on acquiring new unique active players, which increased by 34%, has been pivotal in its success.
Looking ahead, Betclic Everest anticipates continued positive momentum in Q4 2023, driven by its new Betclic app and sustained player growth. FL Group, encompassing Betclic Everest, remains optimistic, expecting robust results across its entertainment businesses. Betclic’s achievement in obtaining the GamCare Safer Gambling certification further solidifies its commitment to responsible gaming. This growth story presents a compelling narrative for stakeholders in the gambling industry, showcasing resilience and innovation in the face of challenges.