Two prominent online gaming entities, Better Collective and Gambling.com Group, recently disclosed their Q3 2023 earnings. Revenue gains were reported by both firms, but Better Collective emerged victorious, amassing €75.4 million (roughly $81.9 million) versus Gambling.com Group’s $23.5 million.
This outcome is not entirely unexpected, given Better Collective’s renowned assertive acquisition approach, a factor that has propelled them to industry prominence. In this quarter alone, they absorbed Playmaker Capital to bolster their North American market presence and secured a dual listing on Nasdaq Copenhagen – just two illustrations of their bold endeavors.
Examining their year-on-year expansion reveals an even starker performance disparity. Gambling.com Group achieved a respectable 19% revenue surge, but Better Collective surpassed them with a substantial 26.3% leap, climbing from €59.7 million to €75.4 million. Profitability paints a similar picture. Gambling.com Group witnessed a 6% decline in EBITDA (earnings before interest, taxes, depreciation, and amortization) relative to the corresponding period last year. Conversely, Better Collective’s EBITDA skyrocketed by 34.6%.
The Gambling.com Group experienced a remarkable third quarter in 2023, characterized by substantial revenue increases. This outcome truly underscores their dominant presence within the digital gaming sector. A significant portion of this achievement stems from their remarkable internal expansion, demonstrating that their ascent to the top isn’t solely through acquisitions.
Charles Gillespie, CEO and co-founder, commenting on their recent successes, stated they are strategically situated to maintain this forward trajectory. He perceives numerous avenues for lucrative expansion, both in the immediate term and over the long run.
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