Betty Canada Third-Quarter Revenue Up 23%

Betty Canada said its third-quarter net revenue from online gambling operations in Ontario and Alberta rose 23% from the second quarter. Total net revenue reached US$111 million. Growth in Ontario and the entry into Alberta's newly regulated iGaming market were the key drivers. CEO Chavdar Dimitrov announced the results in a LinkedIn post.

According to Dimitrov, the company had more than 214,000 active players across the two regions in September. This figure is 28% higher than in June. Based on preliminary data from gaming providers, Betty Canada ranked first in the slots market in Alberta after the market opened on July 13. Ontario's revenue reached about US$101 million, up US$11 million from the second quarter. Alberta generated about US$10 million in new revenue following its launch.

In Ontario, advertising spend fell 12% from the second quarter to US$15 million in the third quarter. Even so, new depositing players acquired through organic channels rose 19%, and the total number of new depositing players in Ontario grew 6% to 56,702. In Alberta, 42,831 new depositing players were recorded in the same period, of which more than 10,000 came from pre-launch campaigns. In September, Alberta's share of the company's total revenue was stated as 12%. The company expects this share to rise to 27% by December 2027.

The new slot game Vault Wreckers launched on August 31 in Ontario and on September 17 in Alberta. In its first seven days, the game reached 50,841 active players and recorded 15.6 million rounds. On the bingo side, the company had its strongest quarter since launching the product. Third-quarter bingo net gaming revenue was US$911,000, up 78% from the second quarter. In September alone, it recorded a record US$394,000. Together with Mini Slots, the bingo segment generated US$1.3 million in net gaming revenue in the quarter.