Better Collective flags potential €10m 2020 revenue hit due to coronavirus

Better Collective has confirmed it is readying itself for a potential €10m revenue reduction due to the impact of coronavirus on global sporting events.

Up to €4m of the potential €10m expected loss will come from the postponement of Euro 2020 until 2021.

The remaining €6m loss is a likely result of other postponed sporting events across the globe.

The €10m impact has been earmarked by Better Collective under the assumption that major sporting events, bar Euro 2020, will return to normal activity levels in the second half of this year.

However, the Danish affiliate has confirmed that its financial targets for 2020 remain unchanged. These include double-digit organic growth and total growth of more than 30%.

Better Collective also announced its casino and esports businesses continue to perform at regular levels.

Until mid-March, Better Collective confirmed it had not been notably impacted by the outbreak of Covid-19.

The firm’s February 2020 revenue ended in line with their expectations, with combined revenue in January and February amounting to €14.1m which accounts for a growth of 37%.

Better Collective also noted that player activity in February was at an all-time high.

Jesper Søgaard, Better Collective CEO, said: “Covid-19 has in many instances created an unprecedented situation for societies across the world. Just as many other companies, Better Collective will expectedly also be affected by Covid-19, especially following the postponement of major sports events such as Euro 2020.

“Nothing is more important than the health and safety of people and we look forward to the return of the sports we all enjoy, including a safe and exciting Euro 2021. Though visibility is currently limited, we stay optimistic that normal sports betting activity levels will be restored while our guidance remains unchanged,” he added.