Revenues rise, losses narrow for B90 Holdings
By Josh White
Date: Friday 23 Sep 2022
(Sharecast News) - Gaming marketing and operating company B90 reported a 150% increase in revenues in its first half on Friday, to €1m.
The AIM-traded firm had raised a further €0.85m in the six months ended 30 June, through a subscription of new ordinary shares.
It recorded an improvement in its net loss to €1.3m, from €1.4m a year ago, notwithstanding further "substantial" investment in marketing and operations.
Operationally, the firm launched the 'Spinbookie' brand, operating in "different yet complementary" markets to B90's existing operations - most notably South America.
It also completed the integration of Oddsen.nu, a Norwegian sports-bet affiliate site, and fully acquired Tippen4You, an established forum platform focussed on the German market.
After the period ended, B90 said it was seeing a "continued improvement" in trading during July and August.
"The group has successfully integrated the acquisitions made last year and its strategic focus now revolves around increasing revenues," said executive chairman Karim Peer.
"We are excited about expansion into new territories and markets, specifically in Latin America, supported by the development of affiliate programmes through both further acquisitions and partnerships."
Peer said that since the end of June, the business had continued to focus on marketing activities, using its key affiliate partnerships, customer acquisition and retention programmes.
"The group is building upon its marketing activities towards the 2022 World Cup in Qatar, starting in November, and seeks to capitalise on the event.
"Revenues in both July and August were in line with monthly revenues received in the second quarter of."
At 1113 BST, shares in B90 Holdings were down 2.7% at 4.5p.
Reporting by Josh White at Sharecast.com.
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