Betr Entertainment, an Australian betting firm, reported a loss of A$40.2 million for the financial year 2026, despite a notable increase in customer engagement and stronger EBITDA figures in the second half. For the fiscal year that concluded on June 30, Betr's turnover rose by 12.3%, totaling A$1.59 billion, with net win increasing by 7% to A$158.1 million; gross win also saw a rise of 10.1%, reaching A$215.7 million.
In stark contrast to the growth in turnover, Betr faced normalised EBITDA losses of A$7.1 million for FY26, reversing from a profit of A$7.2 million in the previous year. The company's overall performance was heavily influenced by challenges faced in the first half of FY26, where it recorded EBITDA losses of A$13.2 million. Contributing to this decline were favorable outcomes in racing and sports during the Spring Racing Carnival, which led to approximately A$7 million in losses.
CEO Andrew Menz stated, "FY26 was a year of deliberate investment followed by disciplined execution. In the second half, we converted that investment into delivery with a A$19.3 million EBITDA turnaround between H1 and H2."
During this fiscal period, Betr invested significantly in rebranding initiatives, integrating Sky Racing, and acquiring TopSport, resulting in a 45% rise in its advertising budget, which increased to A$28.2 million. In the latter half of the year, the company achieved an estimated EBITDA of A$6.1 million, aligning closely with its forecast of A$5 million to A$8 million in normalised EBITDA.
Additionally, Betr generated A$2.6 million in positive operating cash flow during Q4, marking its first profitable quarter since 2021. As of the end of June, the company's cash reserves stood at A$27.8 million, which included A$11 million in client balances.
