Strictly embargoed until 07.00, 1
February 2024
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of
MAR.
B90 Holdings
plc
("B90",
the "Company" or "Group")
Trading
Update
B90 Holdings plc, (AIM: B90) the
online marketing and service provision company for the gaming
industry, is pleased to announce the following update for the
financial year ended 31 December 2023 ("FY 2023").
Management delivered on several key
operational milestones during 2023, which are expected to help the
Group achieve profitability in 2024. During the last quarter of the
year the Company restructured its casino and sportsbook operations
and transitioned to an outsourced solution.
Revenue1 and reported
loss1 for FY 2023 are expected to be in line with market
expectations, although increased marketing and administrative
expenses (including one-off restructuring costs) during the year
are expected to result in an increased adjusted EBITDA
loss1 over 2022.
Strategically, the Group has
undergone a significant shift to focus on its B2B operations. This
includes the discontinuation of B2C gambling on www.Bet90.com and
the relaunch of the platform as a comprehensive affiliate site
offering a wide range of content, including casino reviews and information about available bonuses for both sportsbook
and casino. B90 has now successfully established over 200
partnerships in the industry with notable names such as Bet365,
Unibet, ComeOn Group and Betsson Group.
In line with this strategic
realignment, B90 has also streamlined operations at
www.spinbookie.com.
In January 2024, the Company partnered with a specialised platform
and operations partner. The Company is now fully focused on its
B2B, performance marketing strategy.
This move has already reduced Group
operating costs and enhances the Company's focus on affiliate
marketing efforts. The new look and feel of
Spinbookie.com
is live and operational, providing a much-improved
customer experience.
The operations of Emwys and
www.oddsen.nu, dedicated to engaging
users with online gaming forums and maintaining affiliate
agreements within the Nordic region, have performed in line with
management expectations during FY 2023. Full integration of
Emwys, acquired in July 2023, into the Group has now been
completed.
The Company also announces that
Marcel Noordeloos has agreed to continue in his position as Finance
Director and to remain on the Board.
Executive Chairman Ronny Breivik commented:
"Our strategic refocus on B2B operations within the iGaming
sector, particularly with the relaunch of
Bet90.com and the outsourcing of
operations at Spinbookie.com, underpins the shift in our
business model. These initiatives are central towards achieving our
target of profitability, and to driving shareholder, value in
2024.
"We remain committed to leveraging our industry experience and
partnerships to deliver innovative solutions, driving our
performance marketing and affiliate services. We are
increasingly confident in our operational execution and our ability
to build a strong foundation for sustainable growth and shareholder
value. With an enhanced management team and a stronger Board,
complemented by the backing of investment, as well as strategic and
practical guidance from seasoned, insightful investors in our
sector, we are well-positioned to realise our growth
strategy."
1Unaudited.
-Ends-
For
further information please contact:
|
B90
Holdings plc
|
+44 (0)1624 605 764
|
|
Ronny Breivik, Executive
Chairman
Marcel Noordeloos, Finance
Director
|
|
|
Strand Hanson Limited (Nominated Adviser)
|
+44 (0)20 7409 3494
|
|
James Harris / Richard Johnson / Rob
Patrick
|
|
|
Zeus Capital Limited (Broker)
|
+44 (0)20 3829 5000
|
|
Louisa Waddell / Simon
Johnson
|
|
|
Belvedere (Financial PR & IR)
|
+44 (0)20 7653 8702
|
|
John West / Llewellyn Angus / Lily
Pearce
|
|