REG - B90 Holdings PLC - Trading Update

B90 HoldingsAnnouncement

01/02/2024 07:00

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RNS Number : 6107B  B90 Holdings PLC  01 February 2024

Strictly embargoed until 07.00, 1 February 2024

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

B90 Holdings plc

("B90", the "Company" or "Group")

Trading Update

B90 Holdings plc, (AIM: B90) the online marketing and service provision
company for the gaming industry, is pleased to announce the following update
for the financial year ended 31 December 2023 ("FY 2023").

Management delivered on several key operational milestones during 2023, which
are expected to help the Group achieve profitability in 2024. During the last
quarter of the year the Company restructured its casino and sportsbook
operations and transitioned to an outsourced solution.

Revenue(1) and reported loss(1) for FY 2023 are expected to be in line with
market expectations, although increased marketing and administrative expenses
(including one-off restructuring costs) during the year are expected to result
in an increased adjusted EBITDA loss(1) over 2022.

Strategically, the Group has undergone a significant shift to focus on its B2B
operations. This includes the discontinuation of B2C gambling on www.Bet90.com
and the relaunch of the platform as a comprehensive affiliate site offering a
wide range of content, including casino reviews (https://bet90.com/casino/)
and information about available bonuses for both sportsbook and casino. B90
has now successfully established over 200 partnerships in the industry with
notable names such as Bet365, Unibet, ComeOn Group and Betsson Group.

In line with this strategic realignment, B90 has also streamlined operations
at www.spinbookie.com (http://www.spinbookie.com) . In January 2024, the
Company partnered with a specialised platform and operations partner. The
Company is now fully focused on its B2B, performance marketing strategy.

This move has already reduced Group operating costs and enhances the Company's
focus on affiliate marketing efforts.  The new look and feel of
Spinbookie.com (http://www.Spinbookie.com) is live and operational, providing
a much-improved customer experience.

The operations of Emwys and www.oddsen.nu, dedicated to engaging users with
online gaming forums and maintaining affiliate agreements within the Nordic
region, have performed in line with management expectations during FY 2023.
Full integration of Emwys, acquired in July 2023, into the Group has now been
completed.

The Company also announces that Marcel Noordeloos has agreed to continue in
his position as Finance Director and to remain on the Board.

Executive Chairman Ronny Breivik commented:

"Our strategic refocus on B2B operations within the iGaming sector,
particularly with the relaunch of Bet90.com (http://www.Bet90.com) and the
outsourcing of operations at Spinbookie.com, (http://www.Spinbookie.com)
underpins the shift in our business model. These initiatives are central
towards achieving our target of profitability, and to driving shareholder,
value in 2024.

"We remain committed to leveraging our industry experience and partnerships to
deliver innovative solutions, driving our performance marketing and affiliate
services.  We are increasingly confident in our operational execution and our
ability to build a strong foundation for sustainable growth and shareholder
value. With an enhanced management team and a stronger Board, complemented by
the backing of investment, as well as strategic and practical guidance from
seasoned, insightful investors in our sector, we are well-positioned to
realise our growth strategy."

(1)Unaudited.

-Ends-

For further information please contact:

 B90 Holdings plc                              +44 (0)1624 605 764
 Ronny Breivik, Executive Chairman

 Marcel Noordeloos, Finance Director

 Strand Hanson Limited (Nominated Adviser)     +44 (0)20 7409 3494
 James Harris / Richard Johnson / Rob Patrick

 Zeus Capital Limited (Broker)                 +44 (0)20 3829 5000
 Louisa Waddell / Simon Johnson

 Belvedere (Financial PR & IR)                 +44 (0)20 7653 8702
 John West / Llewellyn Angus / Lily Pearce

 

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