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betr Entertainmen
betr Entertainmen (BBT) investor relations material
betr Entertainmen Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary28 Jan, 2026
Executive summary
Strategic investments in brand relaunch, marketing, product innovation, and Sky Racing integration aimed at driving profitable market share growth and value creation.
Record H1 FY26 turnover of AUD 444.4 million, up 25% year-on-year, with underlying turnover (excluding TopSport) up 13%, significantly outpacing the 2%-3% market growth.
Customer base grew 5.7% quarter-on-quarter to 163,504 cash-active clients, reflecting successful reactivation and acquisition strategies.
H1 EBITDA loss of AUD 13.2 million driven by one-off, front-weighted strategic investments and exceptionally customer-friendly results.
Trading margins normalized from December, with Net Win Margin at over 11% in December and 10.8% in January.
Financial highlights
H1 normalized EBITDA loss of AUD 13.2 million, impacted by AUD 6 million in front-weighted investment and AUD 7 million from adverse wagering outcomes.
Q2 FY26 turnover was AUD 444.4 million, up 25.5% year-on-year; YTD turnover reached AUD 807.4 million, up 25.2%.
Net win of AUD 37.9 million, below target due to unfavorable Spring Carnival results.
Q2 Gross Win Margin was 12.6%, Net Win Margin 8.5%; YTD Net Win Margin was 9.4%, down 1.0pp year-over-year.
Q2 operating cash outflow of AUD 9.7 million, with closing cash of AUD 41 million (including AUD 13.6 million customer balances).
Outlook and guidance
H2 FY26 normalized EBITDA expected between AUD 5 million and AUD 8 million, with FY27 guidance of AUD 13 million to AUD 19 million, assuming 10%-11% net win margin and modest market growth.
Strategic investments in H1 expected to drive improved operating leverage and profitability in H2 and FY27.
Marketing spend to decrease in H2, with major investments now complete and a leaner cost base established.
Guidance does not rely on further M&A or step changes, but company retains optionality for inorganic growth.
Financial targets assume no material adverse changes to cost of sales or regulatory settings.
How do H1 investments drive FY27 EBITDA?
What are the key drivers of organic turnover growth?
PointsBet stake: What is the strategic plan?
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BlueBet Holdings Ltd is an Australian-based online wagering company that provides sports and racing betting services. The company operates a digital platform where customers can place bets on a wide range of sporting events, horse racing, and other entertainment options. BlueBet’s services are primarily focused on the Australian market, though it is expanding into international markets, including the United States. BlueBet Holdings Ltd is headquartered in Sydney, Australia, and its shares are listed on the ASX.
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