Betr Entertainment, an Australian betting company, announced a A$40.2 million loss for the financial year 2026, though strong customer activity and increased EBITDA for the second half.
For the year that ended on June 30, Betr’s turnover increased by 12.3% to reach A$1.59 billion, while its net win increased by 7% to A$158.1 million. Betr’s gross win also went up 10.1% to A$215.7 million.
But despite this progress, Betr had normalised EBITDA losses of A$7.1 million for FY26, whereas normalised EBITDA for the previous year stood at a profit of A$7.2 million.
Betr’s overall result was affected by difficulties in the first half of FY26. The company reported losses of A$13.2 million for EBITDA, which owed partly to favorable race and sports outcomes during the Spring Racing Carnival, which resulted in approximately A$7 million loss.
Betr CEO Andrew Menz said:
FY26 was a year of deliberate investment followed by disciplined execution. In the second half we converted that investment into delivery with a A$19.3m EBITDA turnaround between H1 and H2.
During this period, the betting company also spent large sums of money on rebranding courses, carrying out Sky Racing integration and acquiring TopSport. With the advertising budget increasing by 45% to A$28.2 million.
In the other half of the year, the estimated EBITDA reached A$6.1 million, and was in line with company forecasts that predicted A$5 million – A$8 million in normalised EBITDA.
The company also generated A$2.6 million in positive operating cash flow in Q4, its first positive quarter since 2021. Cash stood at A$27.8 million at the end of June, including A$11 million in client balances.
