Betr Entertainment reported a 19.1% increase in turnover to AU$432.3m for the first quarter of FY27, as the Australian wagering operator maintained its full-year earnings guidance.
Gross win increased 3.2% year on year to AU$53.5m, while net win edged up 1% to AU$38.4m. However, gross win margin declined from 14.3% to 12.4%, while net win margin fell from 10.5% to 8.9%.
Trading improved in October following what the company described as customer-friendly results during the September quarter. For FY27 to 26 October, turnover reached AU$568.5m, up 15.9% from AU$490.3m in the prior comparable period.
Gross win for the financial year to date increased 9.4% to AU$74.4m, while net win rose 14.9% to AU$54.1m. Net win margin stood at 9.5%, broadly in line with the 9.6% recorded a year earlier.
Betr reaffirmed its FY27 guidance for normalised EBITDA of AU$13m to AU$19m and positive operating cash flow. The company said upcoming regulatory reforms were not expected to have a material impact on trading.
Betr Q1 FY27 Results (AU$ M)
The quarterly update comes as Betr remains involved in a dispute with HBO over an advertising campaign featuring Entourage actors Jeremy Piven and Adrian Grenier.
HBO previously demanded the campaign be withdrawn, arguing that elements of the commercial evoked or duplicated the television series. Betr has rejected the demand, maintaining that the advert does not use the Entourage name, character names, footage, dialogue or music.
The operator has instead asked HBO to identify the specific protected elements it believes were reproduced and provide evidence of consumer confusion.
The results come amid Betr's ongoing advertising dispute with HBO
