BetMakers posts $64.7m in revenue for FY2024
The company also reduced its adjusted EBITDA losses.
Australian firm BetMakers has published its financial and business results for the 2024 fiscal year. Its Global Tote division is present in more than 35 countries.
The company posted $64.7m in revenue during the past 12 months. BetMakers credited its ongoing global expansion for its revenue total this year.
Global Tote was responsible for generating nearly $36.6m, 58% of the company’s total 2024 revenue, according to the report. This contribution reflected a 3% year-over-year increase.
BetMakers reduced its adjusted EBITDA loss by 74% year-over-year. Adjusted EBITDA loss for the fiscal year was $5m.
Company Executive Chair Matt Davey took a moment to discuss the year’s results.
He commented, “FY24 was a pivotal year for BetMakers in building the foundations that will enable us to deliver sustainable profit and long-term growth.
“A substantial restructuring program has now largely been completed, significantly reducing our cost base has we enter FY25. In addition, our technology and product offering continues to be enhanced, and our international operations continue to grow in profitability.”
Davey went on to discuss plans for the company’s Next Gen platform and what this technology can offer the market.
He said in closing, “We are excited about the development of the Next Gen platform and that the final stages will go live in Q1 FY25. We expect Next Gen to deliver improved operational efficiencies and an enhanced user experience, with benefits to be realized from FY25.
“In the Australian market, where soft trading conditions have remained, BetMakers’ fixed odds managed trading services’ customers will benefit from increased speed, an upgraded user experience and a host of new features from Next Gen.”
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