AUS
NZ
UK
CA
USA
IND
Highlights
- BBT’s H1FY25 revenue surged by 121.12% YoY, while EBITDA turned positive at AUD 2.03 million.
- The company’s 19.9% proxy vote was incorrectly excluded in the PointsBet–MIXI scheme due to a registry error.
- BBT expects to maintain growth momentum in Q4FY25, backed by the Topsport acquisition and a larger customer base.
Betr Entertainment Limited (ASX:BBT), is an ASX-listed pure-play digital wagering operator focused exclusively on the Australian wagering market.
In the first half of the financial year 2025 (H1FY25), the company’s revenue surged by 121.12% YoY to AUD 61.54 million up from AUD 27.82 million in H1FY24, particularly driven by increased sales from its sports and racing product line. This resulted in EBITDA turning positive at AUD 2.03 million, a marked improvement from a loss of AUD 9.23 million in H1FY24. Additionally, the loss after income tax narrowed significantly to AUD 0.50 million, compared to AUD 10.36 million in the prior period.
During the third quarter of the financial year 2025 (Q3FY25), the company’s revenue surged by 170% YoY to AUD 376.0 million, up from AUD 139.2 million in Q3FY24. The substantial increase in activity also translated into a 177% YoY rise in gross win, reaching AUD 51.7 million compared to AUD 18.6 million in the prior year. The gross margin slightly improved to 13.7%, up from 13.4% in Q3FY24.
Business Update
BBT announced that a system error by share registry provider Computershare led to the incorrect exclusion of its 19.9% proxy vote against the proposed MIXI, Inc. acquisition of PointsBet. As a competing bidder, Betr had publicly declared its opposition to the scheme, but its votes were mistakenly omitted from the initial tally.
Company Outlook
BBT is likely to extend this positive momentum in Q4FY25 supported by the acquisition of Topsport and increased customer base.
With the proposed acquisition of PointsBet, betr expects to see operational gains as it consolidates into a single brand, app, and tech platform. A Big Four accounting firm supports the company’s estimated cost synergies of over AUD 40 million.
Following the successful migration of the betr and TopSport customer bases, the company is confident in integrating PointsBet’s users, aiming to enhance performance and unlock further value.
Stock Information
The stock price has declined by approximately 22.85% over the past month and about 11.47% over the last six months. In the past one year, BBT’s share price has increased by nearly 42.11% and in the nine months, it has gained 25.58%. The stock has a 52-week high and 52-week low of AUD 0.40 and AUD 0.17, respectively. on 30 June 2025, BBT shared closed AUD 0.27.
Support and Resistance Summary
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 30 Junes 2025. The reference data in this report has been partly sourced from EODHD/Others.
Technical Indicators Defined
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.
Disclaimer
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