Betr Entertainment has announced a 24.5 per cent increase in turnover for the December quarter, supported by a customer base of 163,504 active users. Betr Entertainment is an Australian wagering operator focused on sports and racing. The company offers a range of betting products and services through its digital platform.
Despite the overall positive result, the company reported a lower net win margin during the Spring Racing Carnival. Unfavourable outcomes for Betr during this period resulted in a net win margin that was 1.2 percentage points below the company’s target range. However, the net win margin recovered to 11 per cent in December, with January trading showing sustained higher levels.
Betr is actively pursuing growth strategies through both internal expansion and potential acquisitions, with ongoing discussions with various industry participants. Last year, Betr launched an unsuccessful takeover bid for PointsBet, losing out to competitor Mixi.
Furthermore, Betr has announced a proposed on-market buyback of up to 10 per cent of its shares. This buyback will be funded from the company’s existing cash reserves, citing the current share price trading below its perceived intrinsic value.
