B90 Holdings (B90) , a marketing and service provision company for the online betting industry, said its affiliate Oddsen.nu has signed fixed listing fee marketing agreements expected to provide €200k of revenues to B90 in FY24.
In addition to the listing fees, the terms of the agreements stipulate additional revenue may be earned for marketing services, contingent on marketing performance. Oddsen.nu recently expanded its traditionally Nordics-based platform to a global audience, and is now available in English.
Ronny Breivik, Executive Chairman of B90 Holdings, commenting: "The operations of Oddsen.nu have shifted from being Nordics focused, to having a global reach. We are delighted that this shift in focus has already put us in a position to sign long term, value generative partnerships with reputable partners in the sector.
Oddsen.nu's new expansion plans are also in lockstep with B90 Holdings' plans for growing its organic business."
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Another positive announcement from B90 regarding one of its key affiliates Oddsen.nu, which has recently expanded its operations from the Nordics to a global audience. The deal announced today will add €200k in listing fees to B90's FY24 revenues. Additionally, further performance revenues and fixed fees for every new client acquisition will be accrued. With major football tournaments coming later in 2024, there is material opportunity for B90 to boost FY24 revenues through the agreement.
Oddsen.nu's expanded reach to a global audience should be a significant catalyst for growth. The site, now 20 years in operation, features a popular forum where users engage in discussions about sports betting events, and can avail of the platform's ample betting bonuses. Part of the site's popularity comes from the betting tips service it provides, which has yielded a 4% return on turnover since 2001, complemented by a free option.
As part of Oddsen.nu's global expansion strategy, it has made its platform available in English as well as additional languages through add-ons. One of the platform's distinguishing features to be rolled out globally is its player-of-the-month competition where players can add tips and win prizes based on their return. The popular feature is highly interactive and is expected to benefit significantly from the platform's global expansion.
B90 recently issued a positive trading update for FY23, reporting a revenue increase to €3.0m from €2.1m LY, and an additional €6.6m in cash through equity placements during the period. Notably, B90 reached EBITDA profitability post-period, with every month in the quarter so far showing positive EBITDA. Operationally, B90 completed a strategic shift from B2C to a B2B with a focus on optimising operations around performance marketing and affiliate services. The group relaunched bet90.com as an affiliate website, significantly reducing costs.
Overall, B90 has become leaner and more focused as a result of the shift to core B2B, with more streamlined operations and associated cost reductions across the board. The company is moving full steam ahead with its B2B performance marketing strategy, which has shown great results so far. Based on Q1 performance and today's announcement, we expect a profitable FY24. Newly formed partnerships with industry giants such as Bet365, Unibet, and ComeOn Group, as well as improved digital marketing should further accelerate growth this year.
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